Reviva Pharmaceuticals (NASDAQ:RVPH) Raised to Strong-Buy at EF Hutton Acquisition Co. I

EF Hutton Acquisition Co. I upgraded shares of Reviva Pharmaceuticals (NASDAQ:RVPH) to a strong-buy rating in a research note published on Monday, Zacks.com reports.

Several other research analysts also recently issued reports on the company. Benchmark reaffirmed a speculative buy rating and issued a $17.00 price objective on shares of Reviva Pharmaceuticals in a research note on Monday, August 26th. Maxim Group restated a hold rating on shares of Reviva Pharmaceuticals in a research report on Friday, August 16th. Finally, HC Wainwright reissued a buy rating and issued a $14.00 price objective on shares of Reviva Pharmaceuticals in a research note on Thursday, July 11th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Reviva Pharmaceuticals presently has a consensus rating of Buy and a consensus price target of $14.33.

Reviva Pharmaceuticals Price Performance

Shares of Reviva Pharmaceuticals stock opened at $1.29 on Monday. The company’s 50 day moving average price is $1.08 and its two-hundred day moving average price is $1.84. The firm has a market capitalization of $38.47 million, a P/E ratio of -0.81 and a beta of -0.10. Reviva Pharmaceuticals has a fifty-two week low of $0.60 and a fifty-two week high of $6.80.

Reviva Pharmaceuticals (NASDAQ:RVPH) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.02. On average, analysts expect that Reviva Pharmaceuticals will post -0.98 earnings per share for the current year.

Institutional Trading of Reviva Pharmaceuticals

An institutional investor recently raised its position in Reviva Pharmaceuticals stock. Vanguard Group Inc. grew its position in Reviva Pharmaceuticals Holdings, Inc. (NASDAQ:RVPH) by 2.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,001,836 shares of the company’s stock after purchasing an additional 26,854 shares during the quarter. Vanguard Group Inc. owned approximately 3.59% of Reviva Pharmaceuticals worth $3,787,000 as of its most recent filing with the SEC. 63.18% of the stock is owned by hedge funds and other institutional investors.

About Reviva Pharmaceuticals

Reviva Pharmaceuticals Holdings, Inc, a biopharmaceutical company, discovers, develops, and commercializes next-generation therapeutics for diseases targeting unmet medical needs in the areas of central nervous system, respiratory, inflammatory, and cardiometabolic diseases. The company's lead product candidate comprises brilaroxazine (RP5063) for the treatment of various neuropsychiatric indications, including schizophrenia, bipolar disorder, major depressive disorder, attentiondeficit/hyperactivity disorder, behavioral and psychotic symptoms of dementia and Alzheimer's disease, and Parkinson's disease psychosis; in clinical development respiratory indications, such as pulmonary arterial hypertension and idiopathic pulmonary fibrosis; and in preclinical development for the treatment of psoriasis.