Reviva Pharmaceuticals (NASDAQ:RVPH) Upgraded to Buy at Maxim Group

Reviva Pharmaceuticals (NASDAQ:RVPH) was upgraded by equities researchers at Maxim Group from a “hold” rating to a “buy” rating in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a $7.00 price target on the stock. Maxim Group’s price target indicates a potential upside of 245.68% from the stock’s current price.

Several other analysts also recently weighed in on RVPH. Roth Mkm initiated coverage on Reviva Pharmaceuticals in a research report on Friday. They issued a “buy” rating and a $7.00 price objective for the company. EF Hutton Acquisition Co. I raised Reviva Pharmaceuticals to a “strong-buy” rating in a research note on Monday, September 23rd. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Reviva Pharmaceuticals has an average rating of “Buy” and an average target price of $11.25.

Reviva Pharmaceuticals Price Performance

Shares of NASDAQ RVPH traded up $0.16 during mid-day trading on Friday, reaching $2.03. 1,779,229 shares of the company’s stock were exchanged, compared to its average volume of 3,108,544. The firm has a market capitalization of $67.72 million, a price-to-earnings ratio of -1.82 and a beta of -0.12. Reviva Pharmaceuticals has a 52 week low of $0.60 and a 52 week high of $4.83. The firm has a 50-day moving average price of $1.54 and a two-hundred day moving average price of $1.28.

Institutional Trading of Reviva Pharmaceuticals

An institutional investor recently raised its position in Reviva Pharmaceuticals stock. Geode Capital Management LLC raised its position in shares of Reviva Pharmaceuticals Holdings, Inc. (NASDAQ:RVPH) by 17.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 278,496 shares of the company’s stock after acquiring an additional 42,376 shares during the quarter. Geode Capital Management LLC owned approximately 0.83% of Reviva Pharmaceuticals worth $401,000 as of its most recent SEC filing. Institutional investors own 63.18% of the company’s stock.

About Reviva Pharmaceuticals

Reviva Pharmaceuticals Holdings, Inc, a biopharmaceutical company, discovers, develops, and commercializes next-generation therapeutics for diseases targeting unmet medical needs in the areas of central nervous system, respiratory, inflammatory, and cardiometabolic diseases. The company's lead product candidate comprises brilaroxazine (RP5063) for the treatment of various neuropsychiatric indications, including schizophrenia, bipolar disorder, major depressive disorder, attentiondeficit/hyperactivity disorder, behavioral and psychotic symptoms of dementia and Alzheimer's disease, and Parkinson's disease psychosis; in clinical development respiratory indications, such as pulmonary arterial hypertension and idiopathic pulmonary fibrosis; and in preclinical development for the treatment of psoriasis.