Zacks: Brokerages Expect Recro Pharma, Inc. (REPH) Will Announce Quarterly Sales of $14.90 Million
Equities research analysts expect that Recro Pharma, Inc. (NASDAQ:REPH) will post $14.90 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Recro Pharma’s earnings, with the lowest sales estimate coming in at $14.62 million and the highest estimate coming in at $15.17 million. Recro Pharma reported sales of $17.28 million in the same quarter last year, which indicates a negative year-over-year growth rate of 13.8%. The business is scheduled to announce its next earnings report on Thursday, August 10th.
On average, analysts expect that Recro Pharma will report full-year sales of $14.90 million for the current financial year, with estimates ranging from $61.40 million to $63.04 million. For the next financial year, analysts anticipate that the company will post sales of $61.19 million per share, with estimates ranging from $58.37 million to $64.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Recro Pharma.
Recro Pharma (NASDAQ:REPH) last issued its quarterly earnings data on Thursday, May 11th. The specialty pharmaceutical company reported ($0.42) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.57) by $0.15. The company had revenue of $18.74 million for the quarter, compared to analyst estimates of $15.58 million. Recro Pharma had a negative net margin of 45.15% and a negative return on equity of 61.09%.
A number of equities research analysts have recently commented on REPH shares. Janney Montgomery Scott cut Recro Pharma from a “buy” rating to a “fair value” rating and lowered their target price for the stock from $21.00 to $6.50 in a research note on Wednesday, June 14th. Zacks Investment Research upgraded Recro Pharma from a “hold” rating to a “buy” rating and set a $9.50 target price on the stock in a research note on Wednesday, May 17th. Piper Jaffray Companies set a $11.00 target price on Recro Pharma and gave the stock a “buy” rating in a research note on Tuesday, July 25th. Finally, Roth Capital set a $20.00 target price on Recro Pharma and gave the stock a “buy” rating in a research note on Monday, July 31st. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $14.00.
In related news, major shareholder James E. Flynn sold 10,000 shares of the business’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $6.74, for a total value of $67,400.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider James E. Flynn sold 110,447 shares of the business’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $6.39, for a total value of $705,756.33. The disclosure for this sale can be found here. Insiders sold a total of 970,391 shares of company stock worth $7,076,242 over the last 90 days. 21.60% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the stock. Acadian Asset Management LLC bought a new position in Recro Pharma during the first quarter worth $150,000. Janney Montgomery Scott LLC raised its position in Recro Pharma by 17.8% in the first quarter. Janney Montgomery Scott LLC now owns 12,485 shares of the specialty pharmaceutical company’s stock worth $109,000 after buying an additional 1,885 shares during the last quarter. Wells Fargo & Company MN raised its position in Recro Pharma by 3.0% in the first quarter. Wells Fargo & Company MN now owns 17,200 shares of the specialty pharmaceutical company’s stock worth $150,000 after buying an additional 500 shares during the last quarter. Bank of New York Mellon Corp bought a new position in Recro Pharma during the first quarter worth $156,000. Finally, TFS Capital LLC bought a new position in Recro Pharma during the first quarter worth $827,000. Institutional investors and hedge funds own 64.15% of the company’s stock.
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Recro Pharma Company Profile
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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