UPDATE: Maxim Group Starts Reviva Pharmaceuticals (RVPH) at Buy, $10 PT
- Dow, S&P 500 end with gains up after bumpy week, but Nike drags
- Over $100 Billion Wiped Off: Bitcoin (BTC) Price Falls As China's Central Bank Vows to Ban Cryptocurrency Trading
- Nike (NKE) Stock Falls On a Revenue Miss and Slashed FY Sales Outlook, Analysts Bullish Despite NT Supply Chain Challenges
- Oil hits highest in almost 3 years as supply tightens
- Here's Why Meredith (MDP) Stock Price Soared 18% in After Hours
Maxim Group analyst Jason McCarthy initiates coverage on Reviva Pharmaceuticals (NASDAQ: RVPH) with a Buy rating and a price target of $10.00. The analyst commented:
- Reviva is developing its lead asset, RP5063, for the treatment of schizophrenia and respiratory indications including idiopathic pulmonary fibrosis (IPF) and pulmonary arterial hypertension (PAH).
- RP5063 has a multimodal mechanism of action, more completely addressing the mix of positive, negative, and cognitive symptoms associated with schizophrenia.
- The drug completed a P2 study (N=234) demonstrating robust efficacy in reducing the Positive and Negative Syndrome Scale (PANSS). On safety/tolerability, RP5063 demonstrated no signs of major side effects associated with antipsychotics like suicidal ideation or sexual dysfunction, and reported potentially best-in-class discontinuation rates.
- RP5063 also delivered positive results in preclinical IPF/PAH models via its antagonist activity at key 5-HT receptors, which also has the potential to address major comorbid mental illnesses (e.g., depression and psychosis) in both IPF and PAH.
- Conclusion. Current drugs for schizophrenia carry suboptimal efficacy and significant side effects, driving high discontinuation and relapse rates. RP5063 has a differentiated, multimodal approach validated by positive P2 data. At the current market cap of ~$66M and with P3 ahead and $35M in cash to fuel development, we view the risk/reward profile as favorable.
Shares of Reviva Pharmaceuticals closed at $3.83 yesterday.
You May Also Be Interested In
- Summit Insights Assumes ServiceNow (NOW) at Buy
- Singapore Telecommunications Ltd. (ST:SP) (SGAPY) PT Raised to SGD4.10 at New Street Research
- Oriental Land Co Ltd. (4661:JP) (OLCLY) PT Raised to JPY10,700 at Morgan Stanley
Create E-mail Alert Related CategoriesAnalyst Comments, Hot New Coverage, New Coverage
Related EntitiesMaxim Group
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!