Bank of New York Mellon Corp Purchases Shares of 17,877 Recro Pharma, Inc. (NASDAQ:REPH)
Bank of New York Mellon Corp purchased a new stake in shares of Recro Pharma, Inc. (NASDAQ:REPH) during the first quarter, Holdings Channel reports. The fund purchased 17,877 shares of the specialty pharmaceutical company’s stock, valued at approximately $156,000.
A number of other institutional investors have also recently bought and sold shares of the stock. Wells Fargo & Company MN boosted its position in Recro Pharma by 3.0% in the first quarter. Wells Fargo & Company MN now owns 17,200 shares of the specialty pharmaceutical company’s stock valued at $150,000 after buying an additional 500 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in Recro Pharma by 17.8% in the first quarter. Janney Montgomery Scott LLC now owns 12,485 shares of the specialty pharmaceutical company’s stock valued at $109,000 after buying an additional 1,885 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new position in Recro Pharma during the first quarter valued at about $150,000. Institutional investors and hedge funds own 64.15% of the company’s stock.
Recro Pharma, Inc. (NASDAQ REPH) traded down 0.68% during trading on Friday, reaching $7.25. The company’s stock had a trading volume of 1,257 shares. The stock’s market cap is $138.11 million. The firm has a 50 day moving average price of $7.37 and a 200-day moving average price of $7.64. Recro Pharma, Inc. has a 52-week low of $5.81 and a 52-week high of $10.85.
Recro Pharma (NASDAQ:REPH) last announced its quarterly earnings data on Thursday, August 10th. The specialty pharmaceutical company reported ($0.48) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.06. The company had revenue of $16.93 million for the quarter, compared to the consensus estimate of $14.90 million. Recro Pharma had a negative return on equity of 61.09% and a negative net margin of 45.15%. On average, analysts expect that Recro Pharma, Inc. will post ($2.35) earnings per share for the current year.
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Several research firms recently issued reports on REPH. Roth Capital set a $20.00 price target on Recro Pharma and gave the company a “buy” rating in a report on Saturday, May 13th. Piper Jaffray Companies set a $11.00 price target on Recro Pharma and gave the company a “buy” rating in a report on Tuesday, July 25th. Zacks Investment Research cut Recro Pharma from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Finally, Janney Montgomery Scott cut Recro Pharma from a “buy” rating to a “fair value” rating and decreased their price target for the company from $21.00 to $6.50 in a report on Wednesday, June 14th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Recro Pharma has an average rating of “Buy” and a consensus price target of $14.00.
In related news, major shareholder James E. Flynn sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $6.74, for a total transaction of $67,400.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider James E. Flynn sold 110,447 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $6.39, for a total value of $705,756.33. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 215,762 shares of company stock worth $1,430,830. 21.60% of the stock is owned by company insiders.
Recro Pharma Company Profile
Recro Pharma, Inc is a clinical-stage specialty pharmaceutical company. The Company is engaged in developing products for hospitals and ambulatory care settings that is developing non-opioid products for treatment of serious acute pain. The Company’s lead product candidate is an injectable form of meloxicam.
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