Leerink Swann Brokers Lower Earnings Estimates for Reata Pharmaceuticals Inc (RETA)
Reata Pharmaceuticals Inc (NASDAQ:RETA) – Stock analysts at Leerink Swann dropped their FY2019 EPS estimates for Reata Pharmaceuticals in a note issued to investors on Tuesday, September 25th. Leerink Swann analyst J. Schwartz now forecasts that the company will post earnings per share of ($3.19) for the year, down from their previous estimate of ($3.17). Leerink Swann has a “Outperform” rating and a $139.00 price target on the stock. Leerink Swann also issued estimates for Reata Pharmaceuticals’ FY2020 earnings at ($1.18) EPS, FY2021 earnings at $1.12 EPS and FY2022 earnings at $6.62 EPS.
A number of other research analysts also recently commented on RETA. ValuEngine raised shares of Reata Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Wednesday, June 6th. BidaskClub downgraded shares of Reata Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 23rd. Zacks Investment Research raised shares of Reata Pharmaceuticals from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research report on Friday, July 13th. Robert W. Baird increased their target price on shares of Reata Pharmaceuticals from $47.00 to $92.00 and gave the company an “outperform” rating in a research report on Tuesday, July 24th. Finally, Citigroup increased their target price on shares of Reata Pharmaceuticals from $76.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, July 24th. One analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Reata Pharmaceuticals has an average rating of “Buy” and an average target price of $90.86.
Reata Pharmaceuticals (NASDAQ:RETA) last posted its earnings results on Wednesday, August 8th. The company reported ($1.08) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.74) by ($0.34). The company had revenue of $7.57 million for the quarter, compared to analysts’ expectations of $9.11 million.
Large investors have recently modified their holdings of the stock. Point72 Asset Management L.P. acquired a new stake in shares of Reata Pharmaceuticals in the 2nd quarter worth $6,962,000. First Manhattan Co. acquired a new stake in shares of Reata Pharmaceuticals in the 2nd quarter worth $807,000. Wallace Capital Management Inc. acquired a new stake in shares of Reata Pharmaceuticals in the 2nd quarter worth $271,000. King Luther Capital Management Corp lifted its stake in shares of Reata Pharmaceuticals by 47.3% in the 2nd quarter. King Luther Capital Management Corp now owns 93,516 shares of the company’s stock worth $3,270,000 after acquiring an additional 30,021 shares during the period. Finally, Sio Capital Management LLC acquired a new stake in shares of Reata Pharmaceuticals in the 2nd quarter worth $1,533,000. Hedge funds and other institutional investors own 46.63% of the company’s stock.
In related news, insider Elaine Castellanos sold 7,336 shares of the stock in a transaction on Monday, July 23rd. The shares were sold at an average price of $50.81, for a total transaction of $372,742.16. Following the completion of the sale, the insider now owns 140 shares in the company, valued at approximately $7,113.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Keith Wayne Ward sold 4,750 shares of the stock in a transaction on Thursday, July 5th. The stock was sold at an average price of $36.62, for a total transaction of $173,945.00. Following the sale, the insider now owns 4,750 shares of the company’s stock, valued at approximately $173,945. The disclosure for this sale can be found here. 31.69% of the stock is owned by corporate insiders.
Reata Pharmaceuticals Company Profile
Reata Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, focuses on identifying, developing, and commercializing therapeutics to address serious and life-threatening diseases with therapies by targeting molecular pathways that regulate cellular metabolism and inflammation. The company is developing Phase III clinical trial programs, including bardoxolone methyl for the treatment of patients with chronic kidney disease caused by Alport syndrome; and for a form of pulmonary arterial hypertension associated with connective tissue disease.
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