Reviva Pharma Stock Is Trading Higher After Maxim Initiated With Buy, Target Price Of $10

Reviva Pharmaceuticals Holdings Inc RVPH is trading higher with around 60k in session volume.
Maxim initiated coverage of Reviva with a Buy rating and $10 price target, equivalent to an upside of around 140%.
The company is developing its lead asset, RP5063 (brilaroxazine), to treat schizophrenia and respiratory indications.
Analyst Jason McCarthy tells in a research note that RP5063 features a multimodal mechanism of action, which is "more completely" addressing the mix of positive, negative, and cognitive symptoms associated with schizophrenia.
In April, RP5063 showed positive action in the schizophrenia trial that met its primary endpoint of disease severity versus placebo.
Price Action: RVPH shares are up 9.92% at $4.21 during the market session on the last check Monday.