Retension Pharmaceuticals, Inc.’s Quiet Period Set To End on November 18th (NASDAQ:RTSN)

Retension Pharmaceuticals’ (NASDAQ:RTSN) quiet period will expire on Wednesday, November 18th. Retension Pharmaceuticals had issued 3,750,000 shares in its initial public offering on October 9th. The total size of the offering was $45,000,000 based on an initial share price of $12.00. During Retension Pharmaceuticals’ quiet period, insiders and any underwriters that worked on the IPO are restricted from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Zacks Research started coverage on Retension Pharmaceuticals in a research note on Wednesday, November 4th. They set a “hold” rating for the company. Oppenheimer assumed coverage on Retension Pharmaceuticals in a research note on Tuesday, November 3rd. They issued an “outperform” rating and a $50.00 target price on the stock. Guggenheim initiated coverage on Retension Pharmaceuticals in a report on Monday, November 2nd. They issued a “buy” rating and a $55.00 price target on the stock. Finally, Leerink Partners began coverage on Retension Pharmaceuticals in a research report on Tuesday, November 3rd. They set a “strong-buy” rating for the company. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $52.50.

Retension Pharmaceuticals Trading Up 0.8%

RTSN stock opened at $12.25 on Friday. Retension Pharmaceuticals has a 52 week low of $9.66 and a 52 week high of $18.64.

Insider Activity

In other Retension Pharmaceuticals news, CEO Eric Keller purchased 20,800 shares of the business’s stock in a transaction on Tuesday, October 13th. The stock was acquired at an average cost of $12.00 per share, for a total transaction of $249,600.00. Following the completion of the transaction, the chief executive officer directly owned 423,377 shares in the company, valued at approximately $5,080,524. This represents a 5.17% increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Franklin Berger acquired 10,000 shares of Retension Pharmaceuticals stock in a transaction dated Tuesday, October 13th. The shares were bought at an average cost of $12.00 per share, for a total transaction of $120,000.00. Following the completion of the purchase, the director directly owned 10,000 shares of the company’s stock, valued at approximately $120,000. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure.

Retension Pharmaceuticals Company Profile

We are a clinical-stage biopharmaceutical company focused on developing medicines for the treatment of hypertension and other cardiovascular diseases. Our product candidate, RTN-001, is a next-generation, once-daily, oral, small molecule phosphodiesterase-5 (“PDE-5”) inhibitor designed to reduce blood pressure by potentiating nitric oxide signaling, a key mechanism underlying the development and severity of hypertension. While first-generation PDE-5 inhibitors, such as Viagra (sildenafil), were originally studied in cardiovascular indications such as hypertension and angina, we believe they did not have adequate bioavailability and tissue penetration to impact the smooth muscle cells of the central vascular and cardiac tissues and thus failed to achieve clinically meaningful reductions in blood pressure.