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Fly News Breaks for April 4, 2019
REPH
Apr 4, 2019 | 07:44 EDT
Oppenheimer analyst Leland Gershell raised his price target for Recro Pharma to $15 from $9 to reflect the company's updated business plan. With its announced plan to restructure its Acute Care Segment, which should enable Recro Pharma to become cash flow positive in the second half of 2019 by virtue of its growing CDMO business, the analyst believes the company is taking rational steps toward rebuilding equity value following IV meloxicam's 2nd CRL. He reiterates an Outperform rating on the shares.
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