Recro Pharma, Inc. (REPH) Shares Sold by Granite Point Capital Management L.P.
Granite Point Capital Management L.P. reduced its holdings in Recro Pharma, Inc. (NASDAQ:REPH) by 42.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 38,000 shares of the specialty pharmaceutical company’s stock after selling 27,550 shares during the quarter. Granite Point Capital Management L.P. owned about 0.20% of Recro Pharma worth $267,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the company. TIAA CREF Investment Management LLC acquired a new stake in shares of Recro Pharma in the second quarter valued at about $249,000. Teachers Advisors LLC acquired a new stake in shares of Recro Pharma in the second quarter valued at about $162,000. Cadence Capital Management LLC grew its position in shares of Recro Pharma by 32.4% in the second quarter. Cadence Capital Management LLC now owns 124,491 shares of the specialty pharmaceutical company’s stock valued at $875,000 after purchasing an additional 30,455 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Recro Pharma by 182.7% in the second quarter. Bank of New York Mellon Corp now owns 50,532 shares of the specialty pharmaceutical company’s stock valued at $355,000 after purchasing an additional 32,655 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. acquired a new stake in shares of Recro Pharma in the second quarter valued at about $215,000. 65.06% of the stock is currently owned by institutional investors.
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Recro Pharma, Inc. (REPH) traded up 0.78% during midday trading on Thursday, hitting $7.74. 9,525 shares of the company traded hands. The company’s market capitalization is $147.52 million. The stock’s 50-day moving average price is $7.44 and its 200 day moving average price is $7.60. Recro Pharma, Inc. has a 12-month low of $5.81 and a 12-month high of $10.17.
Recro Pharma (NASDAQ:REPH) last released its quarterly earnings data on Thursday, August 10th. The specialty pharmaceutical company reported ($0.48) earnings per share for the quarter, topping the consensus estimate of ($0.54) by $0.06. The company had revenue of $16.93 million for the quarter, compared to analyst estimates of $14.90 million. Recro Pharma had a negative net margin of 46.75% and a negative return on equity of 56.04%. On average, equities analysts forecast that Recro Pharma, Inc. will post ($2.35) EPS for the current year.
Several equities research analysts have recently issued reports on REPH shares. Piper Jaffray Companies set a $11.00 price target on Recro Pharma and gave the company a “buy” rating in a research report on Tuesday, July 25th. Roth Capital set a $20.00 price target on Recro Pharma and gave the company a “buy” rating in a research report on Monday, July 31st. Zacks Investment Research raised Recro Pharma from a “hold” rating to a “buy” rating and set a $8.25 price target on the stock in a research report on Wednesday, August 16th. Finally, Janney Montgomery Scott downgraded Recro Pharma from a “buy” rating to a “fair value” rating and lowered their price target for the company from $21.00 to $6.50 in a research report on Wednesday, June 14th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $13.82.
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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