Recro Pharma Inc (NASDAQ:REPH) Position Cut by Wedge Capital Management L L P NC
Wedge Capital Management L L P NC trimmed its stake in Recro Pharma Inc (NASDAQ:REPH) by 15.0% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 140,601 shares of the specialty pharmaceutical company’s stock after selling 24,832 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.63% of Recro Pharma worth $1,558,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of REPH. Nuveen Asset Management LLC acquired a new position in Recro Pharma during the 2nd quarter valued at approximately $3,455,000. River & Mercantile Asset Management LLP acquired a new stake in Recro Pharma during the 2nd quarter worth approximately $2,166,000. BlackRock Inc. increased its position in Recro Pharma by 14.9% during the 2nd quarter. BlackRock Inc. now owns 1,292,173 shares of the specialty pharmaceutical company’s stock worth $13,142,000 after purchasing an additional 167,346 shares in the last quarter. Penn Capital Management Co. Inc. acquired a new stake in Recro Pharma during the 2nd quarter worth approximately $1,525,000. Finally, Morgan Stanley increased its position in Recro Pharma by 1,287.5% during the 2nd quarter. Morgan Stanley now owns 88,135 shares of the specialty pharmaceutical company’s stock worth $896,000 after purchasing an additional 81,783 shares in the last quarter. Institutional investors own 59.13% of the company’s stock.
Shares of REPH stock traded up $0.57 during mid-day trading on Friday, reaching $16.28. 10,076 shares of the company were exchanged, compared to its average volume of 229,102. Recro Pharma Inc has a fifty-two week low of $5.53 and a fifty-two week high of $16.75. The company has a market capitalization of $366.69 million, a P/E ratio of -6.31 and a beta of -0.40. The business’s 50 day simple moving average is $12.51 and its 200 day simple moving average is $10.67.
Several brokerages have issued reports on REPH. ValuEngine downgraded shares of Recro Pharma from a “buy” rating to a “hold” rating in a research report on Tuesday, October 1st. Zacks Investment Research raised shares of Recro Pharma from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research report on Wednesday, October 30th. BidaskClub raised shares of Recro Pharma from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 22nd. Stephens began coverage on shares of Recro Pharma in a research report on Wednesday, October 16th. They issued an “overweight” rating and a $14.00 price objective for the company. Finally, Oppenheimer set a $20.00 price objective on shares of Recro Pharma and gave the company a “buy” rating in a research report on Friday, August 9th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $13.25.
Recro Pharma Company Profile
Recro Pharma, Inc, a specialty pharmaceutical company, develops and commercializes products for hospital and related acute care settings. The company operates in two segments, Acute Care, and Contract Development and Manufacturing. Its lead product candidate includes injectable meloxicam, which completed pivotal phase III clinical trials for the treatment of post-operative pain.
Featured Story: Dead Cat Bounce
Want to see what other hedge funds are holding REPH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Recro Pharma Inc (NASDAQ:REPH).
Receive News & Ratings for Recro Pharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Recro Pharma and related companies with MarketBeat.com's FREE daily email newsletter.