Roth Capital Initiates Coverage on Recro Pharma Inc. (REPH)
Roth Capital initiated coverage on shares of Recro Pharma Inc. (NASDAQ:REPH) in a research note published on Friday morning. The firm issued a buy rating and a $24.00 price objective on the specialty pharmaceutical company’s stock.
Several other equities analysts have also commented on REPH. Brean Capital restated a buy rating on shares of Recro Pharma in a report on Sunday, July 17th. Zacks Investment Research lowered shares of Recro Pharma from a hold rating to a sell rating in a report on Wednesday, June 15th. Janney Montgomery Scott assumed coverage on shares of Recro Pharma in a report on Monday, August 29th. They set a buy rating and a $21.00 target price on the stock. Finally, HC Wainwright reiterated a buy rating on shares of Recro Pharma in a report on Monday, July 18th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $18.95.
Shares of Recro Pharma (NASDAQ:REPH) opened at 9.34 on Friday. The stock’s 50 day moving average is $9.29 and its 200 day moving average is $7.88. The firm’s market capitalization is $92.18 million. Recro Pharma has a 1-year low of $5.59 and a 1-year high of $15.59.
Recro Pharma (NASDAQ:REPH) last issued its quarterly earnings data on Thursday, August 11th. The specialty pharmaceutical company reported ($0.83) EPS for the quarter, missing the consensus estimate 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 company earned $17.30 million during the quarter, compared to analyst estimates of $18.70 million. Equities analysts predict that Recro Pharma will post ($3.13) earnings per share for the current year.
In other news, major shareholder Healthcare Master Fun Broadfin acquired 390,000 shares of the company’s stock in a transaction on Tuesday, August 16th. The shares were bought at an average cost of $7.50 per share, with a total value of $2,925,000.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 39.30% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in REPH. Stonepine Capital Management LLC increased its stake in shares of 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 in the last quarter. Vanguard Group Inc. increased its stake in shares of 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 in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of 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 in the last quarter. Finally, BlackRock Fund Advisors increased its stake in shares of 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 in the last quarter. 36.38% of the stock is currently owned by institutional investors.
About Recro Pharma
Recro Pharma, Inc is a clinical-stage specialty pharmaceutical company. The Company is engaged in developing non-opioid therapeutics for the treatment of pain, initially for acute pain following surgery. The Company’s lead product is an intranasal formulation of Dexmedetomidine (Dex). Its product candidates for pain indications include: Dex-IN, Dex-SL and Fadolmidine (Fado).
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