In a report released today, Leland Gershell from Oppenheimer reiterated a Buy rating on Recro Pharma (REPH), with a price target of $18. The company’s shares closed yesterday at $7.29.
Gershell noted:
“3Q18 adjusted net loss per share was $0.64 vs. our $0.51E. REPH continues to execute well on its CDMO business, and modestly increased full-year 2018 revenue guidance. We believe this division presents a growth opportunity that may be under- appreciated by investors, who are likely more focused on IV meloxicam’s regulatory status following the May CRL. Although we’re cautiously optimistic on approval for the treatment of moderate-to-severe pain on/around the 3/24/19 PDUFA date, we believe shares reflect negligible commercial expectations for this product. We reiterate our Outperform rating and $18 PT.”
According to TipRanks.com, Gershell is a 1-star analyst with an average return of -2.3% and a 35.3% success rate. Gershell covers the Healthcare sector, focusing on stocks such as Avenue Therapeutics Inc, Evofem Biosciences Inc, and AzurRx BioPharma Inc.
Recro Pharma has an analyst consensus of Strong Buy, with a price target consensus of $15.33, an 110.3% upside from current levels. In a report released yesterday, Roth Capital also maintained a Buy rating on the stock with a $15 price target.
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The company has a one-year high of $13.05 and a one-year low of $4.78. Currently, Recro Pharma has an average volume of 197.6K.
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Recro Pharma, Inc. is a pharmaceutical company, which engages in the research and development of non-opioid therapeutics for the treatment of acute post operative pain. It operates through the Acute Care, and Contract Development and Manufacturing (CDMO) business segment.
