Recro Pharma Inc. (REPH) Rating Increased to Buy at Zacks Investment Research
Recro Pharma Inc. (NASDAQ:REPH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The brokerage presently has a $8.75 target price on the specialty pharmaceutical company’s stock. Zacks Investment Research’s price objective suggests a potential upside of 12.04% from the stock’s current price.
According to Zacks, “Recro Pharma, Inc. is a clinical stage specialty pharmaceutical company. It develops non-opioid therapeutics for the treatment of pain in the post-operative setting. The company is developing intranasal formulation of Dexmedetomidine (Dex) for the treatment of post-operative pain and cancer breakthrough pain; sublingual formulation of Dex for the treatment of chronic pain; and Fadolmidine (Fado), a product candidate to treat post-operative pain and neuropathic pain. Recro Pharma, Inc. is based in Malvern, Pennsylvania. “
A number of other equities research analysts also recently weighed in on the company. HC Wainwright reaffirmed a “buy” rating on shares of Recro Pharma in a report on Monday, July 18th. Janney Montgomery Scott started coverage on Recro Pharma in a report on Monday, August 29th. They set a “buy” rating and a $21.00 price objective on the stock. Brean Capital started coverage on Recro Pharma in a report on Monday, October 3rd. They set a “buy” rating and a $21.00 price objective on the stock. Finally, Roth Capital started coverage on Recro Pharma in a report on Friday, September 16th. They set a “buy” rating and a $24.00 price objective on the stock. Five analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and a consensus target price of $17.75.
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Shares of Recro Pharma (NASDAQ:REPH) opened at 7.81 on Wednesday. The firm’s market capitalization is $77.08 million. Recro Pharma has a 52-week low of $5.59 and a 52-week high of $12.50. The company has a 50-day moving average price of $8.97 and a 200 day moving average price of $8.21.
Recro Pharma (NASDAQ:REPH) last released its earnings results on Thursday, August 11th. The specialty pharmaceutical company reported ($0.83) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.78) by $0.05. Recro Pharma had a negative return on equity of 52.80% and a negative net margin of 8.70%. The firm had revenue of $17.30 million for the quarter, compared to analyst estimates of $18.70 million. Analysts expect that Recro Pharma will post ($3.13) EPS for the current fiscal year.
In other news, major shareholder Healthcare Master Fun Broadfin bought 390,000 shares of the business’s stock in a transaction dated Tuesday, August 16th. The stock was bought at an average price of $7.50 per share, for a total transaction of $2,925,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 39.30% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of REPH. Stonepine Capital Management LLC boosted its position in Recro Pharma by 81.0% in the second quarter. Stonepine Capital Management LLC now owns 428,670 shares of the specialty pharmaceutical company’s stock worth $3,408,000 after buying an additional 191,796 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in Recro Pharma by 30.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 49,947 shares of the specialty pharmaceutical company’s stock worth $397,000 after buying an additional 11,682 shares during the period. BlackRock Fund Advisors boosted its position in Recro Pharma by 37.5% in the second quarter. BlackRock Fund Advisors now owns 15,268 shares of the specialty pharmaceutical company’s stock worth $121,000 after buying an additional 4,163 shares during the period. Finally, Vanguard Group Inc. boosted its position in Recro Pharma by 0.4% in the second quarter. Vanguard Group Inc. now owns 107,252 shares of the specialty pharmaceutical company’s stock worth $852,000 after buying an additional 400 shares during the period. Institutional investors own 36.38% of the company’s stock.
About Recro Pharma
Recro Pharma, Inc is a clinical-stage specialty pharmaceutical company. The Company is engaged in developing products for hospitals and ambulatory care settings that is developing non-opioid products for treatment of serious acute pain. The Company’s lead product candidate is an injectable form of meloxicam.
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