Reata Pharmaceuticals (RETA) Set to Announce Earnings on Monday

Posted by MarketBeat News on Aug 6th, 2022

Reata Pharmaceuticals (NASDAQ:RETA – Get Rating) is scheduled to be posting its quarterly earnings results before the market opens on Monday, August 8th. Analysts expect Reata Pharmaceuticals to post earnings of ($1.90) per share for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

Reata Pharmaceuticals (NASDAQ:RETA – Get Rating) last issued 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. The company had revenue of $0.91 million during the quarter, compared to analysts’ expectations of $1.55 million. Reata Pharmaceuticals had a negative net margin of 2,650.72% and a negative return on equity of 137.52%. Reata Pharmaceuticals’s revenue was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.86) EPS. On average, analysts expect Reata Pharmaceuticals to post $-8 EPS for the current fiscal year and $-7 EPS for the next fiscal year.

Reata Pharmaceuticals Stock Performance

Shares of NASDAQ RETA opened at $35.70 on Friday. The stock has a market cap of $1.30 billion, a P/E ratio of -4.28 and a beta of 1.09. The firm has a 50 day moving average price of $32.38 and a 200 day moving average price of $30.55. Reata Pharmaceuticals has a 52-week low of $20.24 and a 52-week high of $131.51.

Analysts Set New Price Targets

RETA has been the topic of a number of research reports. Citigroup boosted their price objective on shares of Reata Pharmaceuticals from $43.00 to $46.00 and gave the stock a “buy” rating in a research report on Friday, May 27th. LADENBURG THALM/SH SH decreased their price objective on shares of Reata Pharmaceuticals from $75.00 to $67.00 in a report on Wednesday, May 11th. Finally, The Goldman Sachs Group decreased their price objective 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $59.00.

Institutional Trading of Reata Pharmaceuticals

Several hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its holdings in Reata Pharmaceuticals by 3.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 200,153 shares of the company’s stock worth $6,558,000 after acquiring an additional 6,526 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Reata Pharmaceuticals by 1.6% in the 1st quarter. Bank of New York Mellon Corp now owns 120,675 shares of the company’s stock worth $3,953,000 after buying an additional 1,927 shares during the last quarter. Verition Fund Management LLC bought a new stake in Reata Pharmaceuticals in the first quarter valued at approximately $2,724,000. BNP Paribas Arbitrage SA lifted its position in Reata Pharmaceuticals by 65.6% in the first quarter. BNP Paribas Arbitrage SA now owns 57,034 shares of the company’s stock valued at $1,868,000 after purchasing an additional 22,592 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Reata Pharmaceuticals by 18.5% in the first quarter. JPMorgan Chase & Co. now owns 28,162 shares of the company’s stock valued at $923,000 after purchasing an additional 4,398 shares during the last quarter. Institutional investors and hedge funds own 73.55% of the company’s stock.

About Reata Pharmaceuticals

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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.