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 research report issued on Wednesday. The brokerage currently has a $8.25 target price on the specialty pharmaceutical company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 12.09% from the stock’s previous close.
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. “
Several other research firms also recently weighed in on REPH. Piper Jaffray Companies set a $11.00 target price on Recro Pharma and gave the company a “buy” rating in a research report on Tuesday, July 25th. Roth Capital set a $20.00 target price on Recro Pharma and gave the company a “buy” rating in a research report on Monday, July 31st. Finally, Janney Montgomery Scott downgraded Recro Pharma from a “buy” rating to a “fair value” rating and dropped their target price for the company from $21.00 to $6.50 in a research report on Wednesday, June 14th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Recro Pharma presently has a consensus rating of “Buy” and an average target price of $13.82.
Shares of Recro Pharma (NASDAQ REPH) opened at 7.36 on Wednesday. Recro Pharma has a 52-week low of $5.81 and a 52-week high of $10.85. The firm’s 50 day moving average is $7.39 and its 200 day moving average is $7.65. The stock’s market capitalization is $140.24 million.
Recro Pharma (NASDAQ:REPH) last released its earnings results on Thursday, August 10th. The specialty pharmaceutical company reported ($0.48) earnings per share for the quarter, beating the consensus estimate of ($0.54) by $0.06. The company had revenue of $16.93 million during the quarter, compared to the consensus estimate of $14.90 million. Recro Pharma had a negative return on equity of 55.59% and a negative net margin of 46.75%. Equities analysts expect that Recro Pharma will post ($2.35) earnings per share for the current year.
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In other news, insider James E. Flynn sold 110,447 shares of Recro Pharma stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $6.39, for a total value of $705,756.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder James E. Flynn sold 10,000 shares of Recro Pharma stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $6.74, for a total value of $67,400.00. The disclosure for this sale can be found here. Insiders sold a total of 215,762 shares of company stock valued at $1,430,830 in the last quarter. Company insiders own 21.60% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Recro Pharma by 14.2% in the second quarter. Vanguard Group Inc. now owns 640,208 shares of the specialty pharmaceutical company’s stock valued at $4,501,000 after buying an additional 79,520 shares during the last quarter. OxFORD Asset Management LLP boosted its position in shares of Recro Pharma by 364.3% in the second quarter. OxFORD Asset Management LLP now owns 203,430 shares of the specialty pharmaceutical company’s stock valued at $1,430,000 after buying an additional 159,619 shares during the last quarter. Northern Trust Corp boosted its position in shares of Recro Pharma by 428.5% in the second quarter. Northern Trust Corp now owns 178,437 shares of the specialty pharmaceutical company’s stock valued at $1,254,000 after buying an additional 144,676 shares during the last quarter. Marshall Wace North America L.P. bought a new position in shares of Recro Pharma during the first quarter valued at about $1,601,000. Finally, MARSHALL WACE ASIA Ltd bought a new position in shares of Recro Pharma during the first quarter valued at about $1,601,000. Institutional investors and hedge funds own 63.71% 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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