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- The share price of Recro Pharma, Inc. (NASDAQ: REPH) has surged more than 356 percent, year to date.
- Ching-Yi Lin of HC Wainwright & Co has initiated coverage of Recro Pharma with a Buy rating and price target of $19.
- The company has two promising late-stage products that have demonstrated meaningful pain reduction and are expected to be key value drivers for the stock.
The two treatments being developed are IV/IM meloxicam, which is a rapid onset and long-acting COX2 inhibitor, and Dexmedetomidine, which is an intranasal formulation that is a selective alpha 2 adrenergic receptor agonist. Both products are meant for the treatment of post-operative pain and are expected to enter Phase 3 trials later in 2015.
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According to the HC Wainwright report, “IV/IM meloxicam demonstrated significant pain reduction in both hard and soft tissue trials over a 24-hour period after surgery while Dex-IN exhibited significant pain reduction in a hard tissue trial over a 48-hour period beginning one day after surgery.”
Lin believes that these non-opioid therapeutics will reach the market at just the right time, given the growing anti-opioid sentiment. Due to the dangers of using opioids, “the American Society of Anesthesiologists and the Joint Commission, a healthcare accreditation organization, have called for a multi-modal approach to treating postoperative pain,” Lin stated.
In addition, Recro Pharma has acquired the worldwide rights for IV/IM meloxicam, as well as a cGMP manufacturing facility and a royalty and formulation business from Alkermes Plc (NASDAQ: ALKS).
Lin believes that Recro Pharma’s late stage treatments are at present underpriced, while the stock is undervalued.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.