Retrophin Inc. (RTRX) Rating Reiterated by JMP Securities
Retrophin Inc. (NASDAQ:RTRX)‘s stock had its “buy” rating reaffirmed by investment analysts at JMP Securities in a research note issued to investors on Friday.
Several other research firms have also commented on RTRX. Zacks Investment Research raised Retrophin from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research report on Wednesday, October 12th. BMO Capital Markets reissued an “outperform” rating and issued a $28.00 price objective (up from $25.00) on shares of Retrophin in a research report on Monday, August 8th. Leerink Swann raised their price objective on Retrophin from $27.00 to $32.00 and gave the company an “outperform” rating in a research report on Wednesday, September 7th. Finally, TheStreet lowered Retrophin from a “hold” rating to a “sell” rating in a research report on Friday, November 4th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. Retrophin presently has an average rating of “Buy” and an average target price of $28.40.
Shares of Retrophin (NASDAQ:RTRX) opened at 20.99 on Friday. The stock’s market capitalization is $791.99 million. Retrophin has a 12-month low of $11.60 and a 12-month high of $24.57. The stock has a 50 day moving average price of $20.84 and a 200 day moving average price of $18.67.
Retrophin (NASDAQ:RTRX) last issued its earnings results on Thursday, November 3rd. The biopharmaceutical company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.38 by $0.47. The firm earned $33.95 million during the quarter, compared to analysts’ expectations of $34.84 million. Retrophin had a negative return on equity of 1.33% and a negative net margin of 32.96%. The company’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same period last year, the business posted ($0.05) earnings per share. On average, equities analysts anticipate that Retrophin will post ($1.32) earnings per share for the current fiscal year.
In other news, EVP Alvin Shih sold 8,750 shares of the firm’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $16.24, for a total transaction of $142,100.00. Following the completion of the sale, the executive vice president now directly owns 158,334 shares in the company, valued at $2,571,344.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.41% of the company’s stock.
Several hedge funds have recently made changes to their positions in RTRX. Scopia Capital Management LP increased its position in Retrophin by 874.8% in the first quarter. Scopia Capital Management LP now owns 3,598,222 shares of the biopharmaceutical company’s stock worth $49,152,000 after buying an additional 3,229,087 shares during the period. BlackRock Fund Advisors increased its position in Retrophin by 1.8% in the first quarter. BlackRock Fund Advisors now owns 1,302,989 shares of the biopharmaceutical company’s stock worth $17,799,000 after buying an additional 22,903 shares during the period. GSA Capital Partners LLP increased its position in Retrophin by 68.6% in the second quarter. GSA Capital Partners LLP now owns 46,509 shares of the biopharmaceutical company’s stock worth $828,000 after buying an additional 18,920 shares during the period. Boston Advisors LLC increased its position in Retrophin by 23.8% in the second quarter. Boston Advisors LLC now owns 26,945 shares of the biopharmaceutical company’s stock worth $480,000 after buying an additional 5,185 shares during the period. Finally, First Mercantile Trust Co. increased its position in Retrophin by 35.4% in the second quarter. First Mercantile Trust Co. now owns 5,930 shares of the biopharmaceutical company’s stock worth $106,000 after buying an additional 1,550 shares during the period.
Retrophin, Inc is a biopharmaceutical company focused on the development, acquisition and commercialization of therapies for the treatment of serious, catastrophic or rare diseases. It sells three products, including Chenodal (chenodeoxycholic acid), Cholbam (cholic acid) and Thiola (tiopronin). Its Chenodal is approved in the United States for the treatment of patients suffering from gallstones in whom surgery poses an unacceptable health risk due to disease or advanced age.
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