This Friday, investors finally revitalized Repros Therapeutics Inc. (NASDAQ:RPRX) stock.
The shares succeeded to overcome the psychological barrier of $0.40 per share, but not solely due to the latest positive developments of RPRX.
A positive change in the rating of RPRX made the significant input into the almost 19% share price increase.
Last Wednesday, RPRX announced that a Type B Meeting will be initiated in order to review the company’s Phase III protocols for Androxal. Androxal is an orally active small molecule drug under development that restores normal pituitary response in men, resulting in normalization of testosterone and luteinizing hormone (“LH”) levels.
This next step in the development of the company’s pipeline of products received a positive investor reaction.
On the same day, RPRX shares pulled 1.56% up, which looked like a big step ahead, especially on the background of the overall poor trading volume and the constant rolling down of the share price during the whole month.
Though, that same big step ahead looked rather minor as compared to the one made on Friday, as the positive change in the rating of RPRX shares by Ladenburg Thalmann was announced. The research firm upgraded its recommendation for RPRX from Neutral to Buy.[BANNER]
The “upgrade” fueled investor optimism towards RPRX, which of course resulted in an upgraded performance for the stock. RPRX closed at $0.428 on a volume of 3.6 million shares changing hands. That volume was higher than the volume realized as RPRX was granted a patent for its Androxal earlier this month.
If the price continues growing in the same manner long enough, RPRX stock may regain compliance with the minimum bid price of $1 requirement for continued listing on the Nasdaq Capital Market earlier than the granted period, which ends up at the end of October.
