HC Wainwright Reaffirms Buy Rating for Reviva Pharmaceuticals (NASDAQ:RVPH)

HC Wainwright reiterated their buy rating on shares of Reviva Pharmaceuticals (NASDAQ:RVPH) in a report released on Monday morning, Benzinga reports. They currently have a $20.00 target price on the stock.

Reviva Pharmaceuticals Stock Up 1.8 %

Shares of RVPH opened at $3.90 on Monday. Reviva Pharmaceuticals has a 12-month low of $2.67 and a 12-month high of $9.25. The firm has a market capitalization of $108.89 million, a PE ratio of -2.34 and a beta of -0.02. The stock’s fifty day simple moving average is $3.82 and its 200-day simple moving average is $4.34.

Hedge Funds Weigh In On Reviva Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC acquired a new stake in Reviva Pharmaceuticals during the 3rd quarter worth approximately $27,000. Wells Fargo & Company MN grew its position in Reviva Pharmaceuticals by 4,550.0% during the 2nd quarter. Wells Fargo & Company MN now owns 5,115 shares of the company’s stock worth $30,000 after acquiring an additional 5,005 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Reviva Pharmaceuticals during the 1st quarter worth $31,000. Raymond James & Associates bought a new stake in Reviva Pharmaceuticals during the 1st quarter worth $34,000. Finally, Charles Schwab Investment Management Inc. acquired a new position in Reviva Pharmaceuticals during the 4th quarter worth about $52,000. Institutional investors and hedge funds own 63.18% of the company’s stock.

Reviva Pharmaceuticals Company Profile

Reviva Pharmaceuticals Holdings, Inc, a clinical-stage biopharmaceutical company, discovers, develops, and commercializes next-generation therapeutics for diseases targeting unmet medical needs in the areas of central nervous system, respiratory, cardiovascular, metabolic, and inflammatory diseases. The company's lead product candidate is brilaroxazine (RP5063), which is in Phase III clinical trials for use in the treatment of schizophrenia, as well as completed Phase I clinical trials to treat bipolar disorder, major depressive disorder, attentiondeficit/hyperactivity disorder, behavioral and psychotic symptoms of dementia or Alzheimer's disease, Parkinson's disease psychosis, attention deficit hyperactivity disorder, pulmonary arterial hypertension, and idiopathic pulmonary fibrosis.