Retension Pharmaceuticals, Inc.’s (NASDAQ:RTSN) Quiet Period Will Expire on November 18th

Retension Pharmaceuticals’ (NASDAQ:RTSN) quiet period will end 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 underwriters that worked on the IPO are restricted from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Guggenheim started coverage on shares of Retension Pharmaceuticals in a report on Monday, November 2nd. They set a “buy” rating and a $55.00 price target for the company. Oppenheimer initiated coverage on shares of Retension Pharmaceuticals in a report on Tuesday, November 3rd. They issued an “outperform” rating and a $50.00 price objective on the stock. Wall Street Zen upgraded shares of Retension Pharmaceuticals to a “hold” rating in a research report on Saturday. Leerink Partners assumed coverage on shares of Retension Pharmaceuticals in a research report on Tuesday, November 3rd. They issued a “strong-buy” rating on the stock. Finally, Zacks Research began coverage on shares of Retension Pharmaceuticals in a research note on Wednesday, November 4th. They set a “hold” rating for the company. One investment 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, 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 $12.27 on Friday. Retension Pharmaceuticals has a 1-year low of $9.66 and a 1-year high of $18.64.

Insider Buying and Selling at Retension Pharmaceuticals

In other Retension Pharmaceuticals news, CEO Eric Keller purchased 20,800 shares of the stock in a transaction dated Tuesday, October 13th. The shares were bought at an average cost of $12.00 per share, with a total value of $249,600.00. Following the completion of the acquisition, the chief executive officer owned 423,377 shares of the company’s stock, valued at approximately $5,080,524. This trade represents a 5.17% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Franklin Berger bought 10,000 shares of the stock in a transaction on 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 purchase, the director owned 10,000 shares in the company, valued at $120,000. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information.

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.