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Tuesday, October 3, 2023

The Forecast Just Changed on Reata Pharmaceuticals Inc. (NASDAQ:RETA)

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Reata Pharmaceuticals Inc. (RETA) shares are trading at lower $136.51 and the avg recommendation for the stock is Strong Buy, while the current analyst price target stands at $245.50.

To add more color to this target, the company’s high over the last year is $257.96 and the low is $88.17. Over the last 52 weeks, RETA is down -32.64% while the S&P 500 is up 18.49%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, RETA reported a profit of $55.79 million. Reata Pharmaceuticals Inc. also saw revenues increase to $1.4 million. In addition, RETA has free cash flow of -$277.74 million as of 09-2020. The company’s EBITDA came in at -$52.41 million which compares well with its peers.

RETA Return on Equity (ROE) is -163.40%, and its Return on Assets is -56.50%. All told, it is clear that, RETA needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. RETA has a short ratio of 10.70 and outstanding shares of 33.71M.

Company Outlook

RETA has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 0.32 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -11.35. Reata Pharmaceuticals Inc. RETA also noted assets of $613.0 million at the end of the last quarter. Investors should also keep an eye on sector updates as RETA has historically followed its peers on positive news.

All told, Reata Pharmaceuticals Inc. RETA has strung together solid data and demonstrated underlying fundamentals. At its current valuation, RETA represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Reata Pharmaceuticals Inc. RETA is now commanding a market cap of 4.47B and a float of 27.38M. RETA is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of RETA stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in RETA, either long or short, and we have not been compensated for this article.

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