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

Key Points

• Retension Pharmaceuticals’ quiet period is scheduled to end November 18, after its October 9 IPO raised $45 million by selling 3.75 million shares at $12 each; underwriters may begin research coverage after the restriction expires.
• Analyst views are broadly positive: MarketBeat reports a consensus “Buy” rating and an average price target of $52.50, based on ratings ranging from Hold to Strong Buy.
• CEO Eric Keller and Director Franklin Berger bought shares at $12 each on October 13, purchasing 20,800 and 10,000 shares, respectively.

Retension Pharmaceuticals' (NASDAQ:RTSN - Get Free Report) quiet period is set to expire on Wednesday, November 18th. Retension Pharmaceuticals had issued 3,750,000 shares in its 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 involved in the IPO are prevented from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the expiration 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 analysts have recently issued reports on the stock. Zacks Research began coverage on shares of Retension Pharmaceuticals in a report on Wednesday, November 4th. They set a "hold" rating for the company. Leerink Partners assumed coverage on Retension Pharmaceuticals in a research report on Tuesday, November 3rd. They set a "strong-buy" rating for the company. Guggenheim initiated coverage on Retension Pharmaceuticals in a research note on Monday, November 2nd. They set a "buy" rating and a $55.00 price objective for the company. Finally, Oppenheimer assumed coverage on Retension Pharmaceuticals in a report on Tuesday, November 3rd. They issued an "outperform" rating and a $50.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, Retension Pharmaceuticals has a consensus rating of "Buy" and an average price target of $52.50.

Retension Pharmaceuticals Stock Performance

Shares of Retension Pharmaceuticals stock opened at $12.02 on Wednesday. Retension Pharmaceuticals has a 52-week low of $9.66 and a 52-week high of $18.64.

Insider Activity at Retension Pharmaceuticals

In other news, CEO Eric Keller acquired 20,800 shares of the firm's stock in a transaction that occurred on Tuesday, October 13th. The stock was bought at an average cost of $12.00 per share, for a total transaction of $249,600.00. Following the acquisition, the chief executive officer directly owned 423,377 shares in the company, valued at approximately $5,080,524. The trade was a 5.17% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Franklin Berger acquired 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, October 13th. The stock was purchased at an average price of $12.00 per share, with a total value of $120,000.00. Following the completion of the acquisition, the director owned 10,000 shares in the company, valued at $120,000. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information.

About Retension Pharmaceuticals

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.

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