In a report released today, Leland Gershell from Oppenheimer maintained a Buy rating on Recro Pharma (NASDAQ: REPH), with a price target of $18. The company’s shares closed yesterday at $5.63, close to its 52-week low of $5.
Gershell said:
“Following yesterday’s news that REPH received a CRL on IV meloxicam stemming from clinical efficacy as well as CMC concerns, we await an anticipated FDA meeting to better understand these issues. We are focused on the agency’s concerns with efficacy given the broadly positive pivotal program, and what steps will be required to address them. Our model now assumes a roughly six-month delay in IV meloxicam’s launch with no additional trial needed, a scenario which admittedly carries risk. Nonetheless, with the CDMO business worth $7/share according to our model, the lack of near-term financing need, and uncertainty around IV meloxicam reflected in the stock, we believe shares are attractive at current levels. We maintain our Outperform rating, but lower our PT to $18 (from $19).”
According to TipRanks.com, Gershell is ranked #4134 out of 4810 analysts.
Currently, the analyst consensus on Recro Pharma is Strong Buy and the average price target is $15.56, representing a 176.4% upside.
In a report released yesterday, Janney Montgomery also maintained a Buy rating on the stock with a $11 price target.
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Based on Recro Pharma’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $12.46 million. In comparison, last year the company had a GAAP net loss of $8.09 million.
Based on the recent corporate insider activity of 46 insiders, corporate insider sentiment is negative on the stock. Most recently, in March 2018, Michael Berelowitz, a Director at REPH sold 7,500 shares for a total of $78,300.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
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