Maxim Group Upgrades Reviva Pharmaceuticals (NASDAQ:RVPH) to Buy

Reviva Pharmaceuticals (NASDAQ:RVPH) was upgraded by research analysts at Maxim Group from a “hold” rating to a “buy” rating in a research note issued on Friday,Benzinga reports. The firm presently has a $7.00 price objective on the stock. Maxim Group’s target price indicates a potential upside of 272.34% from the stock’s current price.

A number of other research firms have also recently issued reports on RVPH. Roth Mkm began coverage on Reviva Pharmaceuticals in a research note on Friday. They set a “buy” rating and a $7.00 target price for the company. EF Hutton Acquisition Co. I raised shares of Reviva Pharmaceuticals to a “strong-buy” rating in a research report on Monday, September 23rd. Four investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $11.25.

Reviva Pharmaceuticals Price Performance

Shares of Reviva Pharmaceuticals stock opened at $1.88 on Friday. The company has a market capitalization of $62.87 million, a P/E ratio of -1.69 and a beta of -0.12. The business has a 50-day moving average of $1.56 and a two-hundred day moving average of $1.29. Reviva Pharmaceuticals has a 1 year low of $0.60 and a 1 year high of $4.83.

Institutional Investors Weigh In On Reviva Pharmaceuticals

A hedge fund recently raised its stake in Reviva Pharmaceuticals stock. Geode Capital Management LLC raised its holdings in shares of Reviva Pharmaceuticals Holdings, Inc. (NASDAQ:RVPH) by 17.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent reporting period. 63.18% of the stock is owned by hedge funds and other institutional investors.

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.