H.C. Wainwright lowered the firm’s price target on Reviva Pharmaceuticals (RVPH) to $11 from $14 and keeps a Buy rating on the shares. Johnson & Johnson’s (JNJ) acquisition of Intra-Cellular Therapies (ITCI), a rival of Reviva for a “massive premium” serves to emphasize the :significant unwarranted valuation discrepancy” between the two companies, the analyst tells investors in a research note. The firm believes Reviva’s brilaroxazine is a more potent drug in schizophrenia than Intra-Cellular’s lumateperone. However, it reduced Reviva’s price target based on the recent equity dilution.
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