Equities research analysts predict that Reata Pharmaceuticals, Inc. (NASDAQ:RETA) will announce $1.40 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Reata Pharmaceuticals’ earnings, with estimates ranging from $800,000.00 to $2.00 million. Reata Pharmaceuticals also posted sales of $1.40 million during the same quarter last year. The company is scheduled to announce its next earnings report on Monday, November 8th.
According to Zacks, analysts expect that Reata Pharmaceuticals will report full-year sales of $5.90 million for the current fiscal year, with estimates ranging from $4.80 million to $6.94 million. For the next fiscal year, analysts forecast that the business will report sales of $53.55 million, with estimates ranging from $22.05 million to $71.90 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Reata Pharmaceuticals.
Reata Pharmaceuticals (NASDAQ:RETA) last posted its quarterly earnings results on Monday, August 9th. The company reported ($2.00) EPS for the quarter, topping the Zacks’ consensus estimate of ($2.13) by $0.13. Reata Pharmaceuticals had a negative net margin of 3,498.16% and a negative return on equity of 84.38%. The firm had revenue of $2.22 million for the quarter, compared to analysts’ expectations of $1.32 million. During the same period in the prior year, the business posted ($2.03) earnings per share. The business’s revenue for the quarter was down 27.7% on a year-over-year basis.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Amundi Pioneer Asset Management Inc. purchased a new position in shares of Reata Pharmaceuticals during the first quarter valued at $11,462,000. Envestnet Asset Management Inc. boosted its position in Reata Pharmaceuticals by 16.4% during the first quarter. Envestnet Asset Management Inc. now owns 2,731 shares of the company’s stock valued at $272,000 after purchasing an additional 384 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in Reata Pharmaceuticals during the first quarter valued at $244,000. Sigma Planning Corp boosted its position in Reata Pharmaceuticals by 17.0% during the first quarter. Sigma Planning Corp now owns 4,345 shares of the company’s stock valued at $433,000 after purchasing an additional 630 shares during the last quarter. Finally, Blueshift Asset Management LLC acquired a new stake in Reata Pharmaceuticals during the first quarter valued at $298,000. Institutional investors and hedge funds own 72.33% of the company’s stock.
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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