Reviva Pharmaceuticals downgraded to Hold from Buy at D. Boral Capital

D. Boral Capital downgraded Reviva Pharmaceuticals (RVPH) to Hold from Buy after Reviva announced a 1-for-20 reverse stock split. While the reverse split does not change the company’s underlying fundamentals, such actions are typically associated with weak share price performance and attempts to maintain exchange listing compliance and historically tend to be followed by continued pressure on the stock, the analyst tells investors.