Reviva Pharmaceuticals price target lowered to $3 from $8 at D. Boral Capital

D. Boral Capital lowered the firm’s price target on Reviva Pharmaceuticals (RVPH) to $3 from $8 and keeps a Buy rating on the shares. The firm cites near-term financing uncertainty for the target cut. While brilaroxazine continues to advance toward a potential NDA filing with key data expected in Q2 and the RECOVER-2 trial slated to launch mid-year, Reviva’s cash position is insufficient to support these milestones, the analyst tells investors in a research note. D. Boral views dilution risk as high and models multiple equity raises.