Reviva Pharmaceuticals price target lowered to $2 from $3 at D. Boral Capital

D. Boral Capital analyst Jason Kolbert lowered the firm’s price target on Reviva Pharmaceuticals (RVPH) to $2 from $3 and keeps a Buy rating on the shares. The company has executed on back-to-back capital raises that provide $19M in gross proceeds and reinforce its near-term financial runway, the analyst tells investors in a research note. The firm says that while Reviva’s balance sheet is strengthened, the company’s dilution overhang has expanded.