Recro Pharma (NASDAQ:REPH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday, Zacks.com reports. The brokerage presently has a $13.00 price target on the specialty pharmaceutical company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 16.59% 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. “
Other equities research analysts also recently issued research reports about the company. Oppenheimer set a $20.00 price objective on Recro Pharma and gave the stock a “buy” rating in a research report on Friday, August 9th. ValuEngine upgraded Recro Pharma from a “hold” rating to a “buy” rating in a research report on Friday, May 24th. Finally, BidaskClub raised Recro Pharma from a “hold” rating to a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $12.70.
Recro Pharma (NASDAQ:REPH) last announced its quarterly earnings results on Thursday, August 8th. The specialty pharmaceutical company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.29. Recro Pharma had a negative return on equity of 472.52% and a negative net margin of 64.26%. The firm had revenue of $31.26 million for the quarter, compared to analysts’ expectations of $24.06 million. On average, sell-side analysts forecast that Recro Pharma will post -0.35 earnings per share for the current year.
In related news, Director Arnaud Ajdler acquired 40,000 shares of Recro Pharma stock in a transaction dated Friday, May 17th. The shares were purchased at an average cost of $9.00 per share, with a total value of $360,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 20.10% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Morgan Stanley lifted its stake in Recro Pharma by 1,287.5% in the 2nd quarter. Morgan Stanley now owns 88,135 shares of the specialty pharmaceutical company’s stock worth $896,000 after purchasing an additional 81,783 shares in the last quarter. Paloma Partners Management Co purchased a new stake in shares of Recro Pharma during the 2nd quarter valued at about $109,000. Vanguard Group Inc. raised its position in shares of Recro Pharma by 9.6% during the 2nd quarter. Vanguard Group Inc. now owns 917,121 shares of the specialty pharmaceutical company’s stock valued at $9,327,000 after buying an additional 80,582 shares in the last quarter. BlackRock Inc. raised its position in shares of Recro Pharma by 14.9% during the 2nd quarter. BlackRock Inc. now owns 1,292,173 shares of the specialty pharmaceutical company’s stock valued at $13,142,000 after buying an additional 167,346 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its position in shares of Recro Pharma by 21.1% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 106,533 shares of the specialty pharmaceutical company’s stock valued at $1,083,000 after buying an additional 18,544 shares in the last quarter. 57.58% of the stock is currently owned by institutional investors.
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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