Equities Analysts Set Expectations for Reata Pharmaceuticals, Inc.’s FY2023 Earnings (NASDAQ:RETA)

Reata Pharmaceuticals, Inc. (NASDAQ:RETAGet Rating) – Investment analysts at Cantor Fitzgerald issued their FY2023 earnings per share estimates for Reata Pharmaceuticals in a research report issued to clients and investors on Monday, June 6th. Cantor Fitzgerald analyst C. Duncan forecasts that the company will post earnings of ($4.51) per share for the year.

Several other brokerages also recently issued reports on RETA. LADENBURG THALM/SH SH lowered their price objective on shares of Reata Pharmaceuticals from $75.00 to $67.00 in a research report on Wednesday, May 11th. Citigroup lifted their target price on shares of Reata Pharmaceuticals from $43.00 to $46.00 and gave the company a “buy” rating in a report on Friday, May 27th. The Goldman Sachs Group lowered their target price on shares of Reata Pharmaceuticals from $93.00 to $73.00 and set a “buy” rating on the stock in a report on Tuesday, May 24th. Finally, StockNews.com began coverage on shares of Reata Pharmaceuticals in a report on Thursday, March 31st. They issued a “sell” rating on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $59.00.

Shares of Reata Pharmaceuticals stock opened at $34.76 on Thursday. Reata Pharmaceuticals has a 1 year low of $20.24 and a 1 year high of $153.41. The company’s fifty day moving average is $29.40 and its two-hundred day moving average is $33.69.

Reata Pharmaceuticals (NASDAQ:RETAGet Rating) last announced its quarterly earnings results on Tuesday, May 10th. The company reported ($2.03) EPS for the quarter, topping the consensus estimate of ($2.26) by $0.23. Reata Pharmaceuticals had a negative net margin of 2,650.72% and a negative return on equity of 137.52%. The firm had revenue of $0.91 million for the quarter, compared to analyst estimates of $1.55 million. During the same period last year, the business earned ($1.86) EPS. Reata Pharmaceuticals’s revenue for the quarter was down 3.2% compared to the same quarter last year.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. FourThought Financial LLC raised its position in Reata Pharmaceuticals by 58.0% during the third quarter. FourThought Financial LLC now owns 583 shares of the company’s stock worth $58,000 after acquiring an additional 214 shares during the last quarter. Macquarie Group Ltd. raised its position in Reata Pharmaceuticals by 60.1% during the third quarter. Macquarie Group Ltd. now owns 594 shares of the company’s stock worth $60,000 after acquiring an additional 223 shares during the last quarter. First Mercantile Trust Co. raised its position in Reata Pharmaceuticals by 20.6% during the third quarter. First Mercantile Trust Co. now owns 721 shares of the company’s stock worth $73,000 after acquiring an additional 123 shares during the last quarter. US Bancorp DE raised its position in Reata Pharmaceuticals by 930.5% during the first quarter. US Bancorp DE now owns 1,824 shares of the company’s stock worth $60,000 after acquiring an additional 1,647 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Reata Pharmaceuticals during the third quarter worth about $233,000. Hedge funds and other institutional investors own 73.55% of the company’s stock.

About Reata Pharmaceuticals (Get Rating)

Reata Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, identifies, develops, and commercializes novel therapeutics for patients with serious or life-threatening diseases. The company is developing Phase 3 clinical trial programs, including bardoxolone methyl (bardoxolone) for the treatment of patients with chronic kidney disease (CKD) caused by Alport syndrome, as well as for a form of pulmonary arterial hypertension associated with connective tissue disease; omaveloxolone that is Phase II clinical trial to treat Friedreich's ataxia; and conduct Phase 2 study for various form of CKD, such as IgA nephropathy, type 1 and type 2 diabetic CKD, hypertensive CKD, focal segmental glomerulosclerosis, and others.

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