Reviva Pharmaceuticals price target lowered to $1 from $1.50 at Roth Capital

Roth Capital lowered the firm’s price target on Reviva Pharmaceuticals (RVPH) to $1 from $1.50 and keeps a Buy rating on the shares. Though the firm believes that Brilaroxazine has potential to become a blockbuster antipsychotic in the crowded schizophrenia landscape, the outsized financing requirements to execute the second Phase 3 study, a weak capitalization structure following a series of dilutive financings, and a concomitant reverse split and the lack of high-impact near-term catalysts are driving the firm’s price target cut, the analyst tells investors in a research note.