Leerink Swann Weighs in on Reata Pharmaceuticals, Inc.’s Q3 2017 Earnings (RETA)
Reata Pharmaceuticals, Inc. (NASDAQ:RETA) – Research analysts at Leerink Swann issued their Q3 2017 EPS estimates for shares of Reata Pharmaceuticals in a research report issued to clients and investors on Wednesday. Leerink Swann analyst J. Schwartz forecasts that the company will post earnings per share of ($0.41) for the quarter. Leerink Swann has a “Outperform” rating and a $43.00 price target on the stock. Leerink Swann also issued estimates for Reata Pharmaceuticals’ Q4 2017 earnings at ($0.48) EPS, FY2017 earnings at ($1.73) EPS, FY2018 earnings at ($2.01) EPS, FY2019 earnings at ($1.95) EPS, FY2020 earnings at ($0.80) EPS and FY2021 earnings at $0.48 EPS.
RETA has been the topic of a number of other research reports. Jefferies Group LLC initiated coverage on shares of Reata Pharmaceuticals in a research report on Wednesday, August 30th. They issued a “buy” rating and a $44.00 target price on the stock. Citigroup Inc. reaffirmed a “buy” rating and issued a $87.00 target price (up previously from $39.00) on shares of Reata Pharmaceuticals in a research report on Tuesday, July 25th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $50.00 target price (up previously from $38.00) on shares of Reata Pharmaceuticals in a research report on Tuesday, July 25th. ValuEngine cut shares of Reata Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Monday, September 11th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $47.00 target price on shares of Reata Pharmaceuticals in a research report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating and eight have given a buy rating to the stock. Reata Pharmaceuticals presently has a consensus rating of “Buy” and an average target price of $51.63.
Shares of Reata Pharmaceuticals (NASDAQ RETA) opened at 31.01 on Friday. Reata Pharmaceuticals has a 12-month low of $18.51 and a 12-month high of $41.60. The stock has a 50 day moving average of $28.57 and a 200 day moving average of $26.88. The company’s market cap is $809.45 million.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System lifted its position in Reata Pharmaceuticals by 20.8% in the second quarter. California State Teachers Retirement System now owns 15,125 shares of the company’s stock valued at $479,000 after buying an additional 2,600 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Reata Pharmaceuticals by 102.4% during the second quarter. The Manufacturers Life Insurance Company now owns 7,343 shares of the company’s stock worth $233,000 after purchasing an additional 3,715 shares in the last quarter. State Street Corp lifted its position in shares of Reata Pharmaceuticals by 4.9% during the second quarter. State Street Corp now owns 108,212 shares of the company’s stock worth $3,422,000 after purchasing an additional 5,094 shares in the last quarter. Virtu KCG Holdings LLC acquired a new stake in shares of Reata Pharmaceuticals during the second quarter worth about $249,000. Finally, FMR LLC lifted its position in shares of Reata Pharmaceuticals by 74.4% during the second quarter. FMR LLC now owns 414,491 shares of the company’s stock worth $13,114,000 after purchasing an additional 176,885 shares in the last quarter. 21.85% of the stock is currently owned by institutional investors.
In related news, Director James Edward Bass bought 8,064 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were bought at an average price of $31.00 per share, with a total value of $249,984.00. Following the completion of the transaction, the director now directly owns 67,411 shares of the company’s stock, valued at approximately $2,089,741. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 62.40% of the company’s stock.
About Reata Pharmaceuticals
Reata Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company is focused on identifying, developing and commercializing product candidates that modulate the activity of regulatory proteins involved in the biology of mitochondrial function, oxidative stress, and inflammation to address the unmet medical needs of patients with a range of serious or life-threatening diseases.
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