Recro Pharma (NASDAQ:REPH) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Recro Pharma (NASDAQ:REPH) from a hold rating to a buy rating in a research report report published on Thursday morning, Zacks.com reports. The firm currently has $11.00 price objective on the specialty pharmaceutical company’s stock.
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. “
Other equities research analysts have also recently issued reports about the company. Roth Capital restated a buy rating on shares of Corvus Gold in a research note on Monday, March 25th. Oppenheimer upped their price objective on Recro Pharma from $9.00 to $15.00 and gave the stock an outperform rating in a research note on Thursday, April 4th. Finally, ValuEngine upgraded XOMA from a sell rating to a hold rating in a research note on Friday, May 24th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $11.30.
Recro Pharma (NASDAQ:REPH) last issued its earnings results on Friday, May 10th. The specialty pharmaceutical company reported ($0.10) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.79) by $0.69. The business had revenue of $25.07 million during the quarter, compared to analysts’ expectations of $20.51 million. Recro Pharma had a negative return on equity of 472.52% and a negative net margin of 83.56%. As a group, sell-side analysts predict that Recro Pharma will post -0.54 earnings per share for the current fiscal year.
In related news, Director Arnaud Ajdler acquired 40,000 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The stock was purchased at an average cost of $9.00 per share, for a total transaction of $360,000.00. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Geraldine Henwood sold 144,806 shares of the company’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $8.89, for a total value of $1,287,325.34. Following the sale, the chief executive officer now owns 342,947 shares of the company’s stock, valued at $3,048,798.83. The disclosure for this sale can be found here. Corporate insiders own 20.10% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of REPH. BlackRock Inc. increased its position in Recro Pharma by 5.7% during the 4th quarter. BlackRock Inc. now owns 1,154,815 shares of the specialty pharmaceutical company’s stock valued at $8,199,000 after buying an additional 62,787 shares in the last quarter. Kennedy Capital Management Inc. increased its position in Recro Pharma by 19.5% during the 1st quarter. Kennedy Capital Management Inc. now owns 598,107 shares of the specialty pharmaceutical company’s stock valued at $3,505,000 after buying an additional 97,482 shares in the last quarter. Geode Capital Management LLC increased its position in Recro Pharma by 12.3% during the 4th quarter. Geode Capital Management LLC now owns 157,953 shares of the specialty pharmaceutical company’s stock valued at $1,121,000 after buying an additional 17,299 shares in the last quarter. Cadence Capital Management LLC acquired a new position in Recro Pharma during the 1st quarter valued at about $803,000. Finally, Squarepoint Ops LLC increased its position in Recro Pharma by 88.9% during the 4th quarter. Squarepoint Ops LLC now owns 81,794 shares of the specialty pharmaceutical company’s stock valued at $581,000 after buying an additional 38,494 shares in the last quarter. Hedge funds and other institutional investors own 56.99% of the company’s stock.
About Recro Pharma
Recro Pharma, Inc, a specialty pharmaceutical company, develops and commercializes products for hospital and related acute care settings. The company operates in two segments, Acute Care, and Contract Development and Manufacturing. Its lead product candidate includes injectable meloxicam, which completed pivotal phase III clinical trials for the treatment of post-operative pain.
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