Recro Pharma (NASDAQ:REPH) Upgraded to “Buy” at Zacks Investment Research

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Zacks Investment Research upgraded shares of Recro Pharma (NASDAQ:REPH) from a hold rating to a buy rating in a report released on Thursday morning, Zacks.com reports. Zacks Investment Research currently has $13.00 target price 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 issued research reports about the stock. Oppenheimer set a $20.00 price target on shares of Recro Pharma and gave the stock a buy rating in a research note on Friday, August 9th. BidaskClub upgraded shares of Recro Pharma from a hold rating to a buy rating in a research note on Wednesday, August 14th. Finally, ValuEngine upgraded shares of Recro Pharma from a hold rating to a buy rating in a research note on Friday, May 24th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $12.70.

NASDAQ:REPH opened at $10.77 on Thursday. The firm has a market cap of $241.10 million, a price-to-earnings ratio of -4.33 and a beta of -0.27. Recro Pharma has a 52 week low of $5.53 and a 52 week high of $11.85. The firm has a 50-day moving average price of $10.14 and a two-hundred day moving average price of $9.11.

Recro Pharma (NASDAQ:REPH) last posted its quarterly earnings data on Thursday, August 8th. The specialty pharmaceutical company reported ($0.13) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.42) by $0.29. Recro Pharma had a negative net margin of 64.26% and a negative return on equity of 472.52%. The firm had revenue of $31.26 million during the quarter, compared to analyst estimates of $24.06 million. Analysts expect that Recro Pharma will post -0.35 earnings per share for the current year.

Several hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp increased its stake in shares of Recro Pharma by 1.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 58,297 shares of the specialty pharmaceutical company’s stock worth $593,000 after purchasing an additional 969 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Recro Pharma by 5.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 45,956 shares of the specialty pharmaceutical company’s stock worth $468,000 after purchasing an additional 2,510 shares during the last quarter. Virtu Financial LLC increased its stake in shares of Recro Pharma by 27.7% during the 1st quarter. Virtu Financial LLC now owns 12,875 shares of the specialty pharmaceutical company’s stock worth $75,000 after purchasing an additional 2,795 shares during the last quarter. Meeder Asset Management Inc. increased its stake in shares of Recro Pharma by 191.1% during the 1st quarter. Meeder Asset Management Inc. now owns 5,086 shares of the specialty pharmaceutical company’s stock worth $30,000 after purchasing an additional 3,339 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Recro Pharma during the 2nd quarter worth approximately $48,000. Institutional investors own 57.58% 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.

See Also: Example of operating income, EBIT and EBITDA

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