Guggenheim Initiates Coverage on Retension Pharmaceuticals (NASDAQ:RTSN)

Stock analysts at Guggenheim started coverage on shares of Retension Pharmaceuticals (NASDAQ:RTSN) in a research note issued on Monday, Benzinga reports. The firm set a “buy” rating and a $55.00 price target on the stock. Guggenheim‘s target price suggests a potential upside of 384.15% from the stock’s previous close.

Retension Pharmaceuticals Price Performance

Shares of RTSN stock opened at $11.36 on Monday. Retension Pharmaceuticals has a 52-week low of $9.66 and a 52-week high of $18.64.

Insider Buying and Selling

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