Retrophin Inc. (RTRX) Stock Price Up 5.7% on Analyst Upgrade
Retrophin Inc. (NASDAQ:RTRX) shares were up 5.7% on Monday after BMO Capital Markets raised their price target on the stock to $46.00. The stock traded as high as $22.00 and last traded at $21.22, with a volume of 1,012,352 shares traded. The stock had previously closed at $20.08.
Several other research firms have also commented on RTRX. Zacks Investment Research upgraded Retrophin from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research report on Wednesday, October 12th. JMP Securities restated an “outperform” rating and set a $28.00 price target on shares of Retrophin in a research report on Friday, September 9th. Leerink Swann raised their price target on Retrophin from $27.00 to $32.00 and gave the stock 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 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. The stock currently has a consensus rating of “Buy” and a consensus target price of $29.60.
In other news, EVP Alvin Shih sold 8,750 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now directly owns 158,334 shares in the company, valued at $2,571,344.16. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 2.41% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Scopia Capital Management LP bought a new position in Retrophin during the third quarter worth about $95,180,000. Perceptive Advisors LLC raised its position in Retrophin by 9.3% in the second quarter. Perceptive Advisors LLC now owns 3,279,380 shares of the biopharmaceutical company’s stock worth $58,405,000 after buying an additional 280,000 shares during the period. Consonance Capital Management LP raised its position in Retrophin by 14.3% in the third quarter. Consonance Capital Management LP now owns 3,084,947 shares of the biopharmaceutical company’s stock worth $69,041,000 after buying an additional 385,000 shares during the period. FMR LLC raised its position in Retrophin by 62.4% in the second quarter. FMR LLC now owns 1,997,470 shares of the biopharmaceutical company’s stock worth $35,575,000 after buying an additional 767,152 shares during the period. Finally, BlackRock Fund Advisors raised its position in Retrophin by 6.7% in the third quarter. BlackRock Fund Advisors now owns 1,415,218 shares of the biopharmaceutical company’s stock worth $31,673,000 after buying an additional 89,272 shares during the period.
The stock’s 50-day moving average price is $20.68 and its 200-day moving average price is $18.91. The company’s market capitalization is $800.67 million.
Retrophin (NASDAQ:RTRX) last issued its quarterly earnings data on Thursday, November 3rd. The biopharmaceutical company reported ($0.09) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.47. Retrophin had a negative return on equity of 1.33% and a negative net margin of 32.96%. The company had revenue of $33.95 million for the quarter, compared to analyst estimates of $34.84 million. During the same quarter in the prior year, the firm earned ($0.05) earnings per share. The company’s revenue for the quarter was up 21.2% on a year-over-year basis. Equities research analysts anticipate that Retrophin Inc. will post ($1.32) EPS for the current year.
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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