Recro Pharma Inc (NASDAQ:REPH) Sees Significant Decrease in Short Interest

Recro Pharma Inc (NASDAQ:REPH) saw a large decrease in short interest in the month of September. As of September 15th, there was short interest totalling 639,200 shares, a decrease of 15.0% from the August 31st total of 751,600 shares. Based on an average daily volume of 344,800 shares, the days-to-cover ratio is presently 1.9 days. Currently, 3.2% of the company’s shares are sold short.

Separately, Zacks Investment Research downgraded Recro Pharma from a “hold” rating to a “sell” rating in a research report on Wednesday, August 19th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. Recro Pharma presently has a consensus rating of “Hold” and an average target price of $11.75.

Shares of REPH traded down $0.12 during mid-day trading on Thursday, hitting $1.98. The company had a trading volume of 560,694 shares, compared to its average volume of 435,049. Recro Pharma has a 1-year low of $1.91 and a 1-year high of $19.21. The business’s 50-day simple moving average is $2.51 and its 200-day simple moving average is $5.00. The stock has a market cap of $49.64 million, a PE ratio of 10.50 and a beta of 0.54.

Recro Pharma (NASDAQ:REPH) last posted its quarterly earnings results on Monday, August 10th. The specialty pharmaceutical company reported ($0.25) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.09). The business had revenue of $15.52 million for the quarter, compared to the consensus estimate of $19.00 million. Research analysts forecast that Recro Pharma will post -0.98 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the stock. XTX Markets LLC purchased a new stake in Recro Pharma during the second quarter valued at about $46,000. BNP Paribas Arbitrage SA grew its holdings in shares of Recro Pharma by 105.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 6,102 shares of the specialty pharmaceutical company’s stock worth $50,000 after purchasing an additional 3,128 shares during the period. Citigroup Inc. increased its position in shares of Recro Pharma by 64.3% in the first quarter. Citigroup Inc. now owns 6,554 shares of the specialty pharmaceutical company’s stock worth $54,000 after acquiring an additional 2,566 shares in the last quarter. Jane Street Group LLC acquired a new stake in Recro Pharma in the 2nd quarter valued at $56,000. Finally, Diversified Trust Co acquired a new stake in shares of Recro Pharma in the second quarter valued at about $61,000. 61.31% of the stock is currently owned by institutional investors and hedge funds.

About Recro Pharma

Recro Pharma, Inc, a specialty pharmaceutical company, develops and commercializes products for hospital and related acute care settings. The company operates in two segments, Acute Care, and Contract Development and Manufacturing. Its lead product candidate includes injectable meloxicam, which completed pivotal phase III clinical trials for the treatment of post-operative pain.

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