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.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RVPH:
- Reviva Pharmaceuticals reports Q1 EPS (13c), consensus (18c)
- Reviva Pharmaceuticals: Promising Schizophrenia Treatment Drives Buy Rating
- Biotech Alert: Searches spiking for these stocks today
- Reviva Pharmaceuticals Reports 2024 Financial Results
- Reviva Pharmaceuticals price target lowered to $8 from $15 at D. Boral Capital