Reviva Pharmaceuticals price target lowered to $7 from $14 at Benchmark

Benchmark lowered the firm’s price target on Reviva Pharmaceuticals (RVPH) to $7 from $14 and keeps a Speculative Buy rating on the shares ahead of the completion of a meeting with the FDA scheduled for Q4 to discuss the future NDA submission for brilaroxazine, which the firm calls “the next major catalyst for the shares.” The data so far have demonstrated Brilaroxazine has better efficacy, fewer side-effects, higher patient compliance, and easy dosing compared to existing alternatives for the treatment of schizophrenia, says the analyst, who adds that the company will likely need additional capital in order to move its clinical programs forward.