Equities

Cantor Fitzgerald Equities Analysts Decrease Earnings Estimates for Reata Pharmaceuticals, Inc. (NASDAQ:RETA)

Reata Pharmaceuticals, Inc. (NASDAQ:RETA) – Research analysts at Cantor Fitzgerald lowered their FY2022 earnings per share estimates for shares of Reata Pharmaceuticals in a note issued to investors on Thursday, December 9th. Cantor Fitzgerald analyst C. Duncan now expects that the company will earn ($10.06) per share for the year, down from their previous estimate of ($8.83). Cantor Fitzgerald currently has a “Overweight” rating and a $112.00 price objective on the stock. Reata Pharmaceuticals (NASDAQ:RETA) last announced its quarterly earnings results on Monday, November 8th. The company reported ($1.97) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.32) by $0.35. Reata Pharmaceuticals had a negative net margin of 2,020.49% and a negative return on equity of 81.91%. The company had revenue of $7.40 million during the quarter, compared to the consensus estimate of $2.07 million. During the same quarter in the previous year, the company posted ($1.94) earnings per share. The company’s revenue for the quarter was up 428.6% compared to the same quarter last year.

Several other equities analysts also recently issued reports on RETA. Robert W. Baird downgraded Reata Pharmaceuticals from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $110.00 to $37.00 in a research report on Thursday. Barclays lowered their price target on Reata Pharmaceuticals from $180.00 to $43.00 and set an “overweight” rating on the stock in a report on Thursday. The Goldman Sachs Group downgraded shares of Reata Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $39.00 price objective for the company. in a report on Thursday. Finally, SVB Leerink reissued a “market perform” rating and set a $35.00 target price (down previously from $282.00) on shares of Reata Pharmaceuticals in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $107.71.

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NASDAQ RETA opened at $29.32 on Monday. The company has a 50-day moving average price of $90.42 and a two-hundred day moving average price of $112.31. Reata Pharmaceuticals has a 52 week low of $27.50 and a 52 week high of $153.41. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of -3.79 and a beta of 1.48.

Several institutional investors and hedge funds have recently made changes to their positions in RETA. First Mercantile Trust Co. boosted its holdings in shares of Reata Pharmaceuticals by 20.6% in the third quarter. First Mercantile Trust Co. now owns 721 shares of the company’s stock worth $73,000 after buying an additional 123 shares during the period. Sigma Planning Corp lifted its position in shares of Reata Pharmaceuticals by 2.9% in the 3rd quarter. Sigma Planning Corp now owns 6,544 shares of the company’s stock valued at $658,000 after acquiring an additional 184 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Reata Pharmaceuticals by 9.1% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 2,458 shares of the company’s stock worth $247,000 after purchasing an additional 206 shares during the period. FourThought Financial LLC grew its position in Reata Pharmaceuticals by 58.0% during the 3rd quarter. FourThought Financial LLC now owns 583 shares of the company’s stock worth $58,000 after purchasing an additional 214 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in Reata Pharmaceuticals by 1.9% during the 3rd quarter. Principal Financial Group Inc. now owns 11,622 shares of the company’s stock valued at $1,170,000 after purchasing an additional 221 shares during the period. 74.04% of the stock is currently owned by institutional investors.

About Reata Pharmaceuticals

Reata Pharmaceuticals, Inc is a clinical stage biopharmaceutical company, which engages in identifying, developing, and commercializing pharmaceutical products. Its product candidates are bardoxolone methyl and omaveloxolone, which activate the transcription factor Nrf2 to restore mitochondrial function, reduce oxidative stress, and resolve inflammation.

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Earnings History and Estimates for Reata Pharmaceuticals (NASDAQ:RETA)

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