Trevena, Inc. (TRVN) Receives $12.10 Consensus Target Price from Brokerages
Shares of Trevena, Inc. (NASDAQ:TRVN) have been given an average recommendation of “Buy” by the thirteen brokerages that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and eleven have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $12.10.
Several research firms have recently issued reports on TRVN. Oppenheimer Holdings, Inc. set a $10.00 target price on shares of Trevena and gave the stock a “buy” rating in a report on Thursday, May 4th. Cowen and Company restated a “buy” rating and issued a $13.00 target price on shares of Trevena in a report on Wednesday, March 22nd. Needham & Company LLC restated a “buy” rating and issued a $9.00 target price (down previously from $11.00) on shares of Trevena in a report on Friday, May 5th. Zacks Investment Research upgraded shares of Trevena from a “sell” rating to a “hold” rating in a report on Wednesday, March 29th. Finally, HC Wainwright restated a “buy” rating on shares of Trevena in a report on Monday, May 8th.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. increased its position in Trevena by 12.1% in the first quarter. Goldman Sachs Group Inc. now owns 59,522 shares of the biopharmaceutical company’s stock worth $218,000 after buying an additional 6,402 shares during the period. Palo Alto Investors LLC acquired a new position in Trevena during the first quarter worth approximately $1,253,000. Tudor Investment Corp ET AL acquired a new position in Trevena during the first quarter worth approximately $202,000. Highbridge Capital Management LLC acquired a new position in Trevena during the first quarter worth approximately $440,000. Finally, Paulson & CO. Inc. acquired a new position in Trevena during the first quarter worth approximately $1,496,000. 64.49% of the stock is currently owned by institutional investors and hedge funds.
Shares of Trevena (NASDAQ TRVN) traded down 2.46% during midday trading on Monday, hitting $2.78. The company had a trading volume of 997,421 shares. Trevena has a 12-month low of $2.15 and a 12-month high of $8.00. The company’s market capitalization is $162.08 million. The company’s 50-day moving average price is $2.66 and its 200 day moving average price is $4.36.
Trevena (NASDAQ:TRVN) last released its earnings results on Thursday, May 4th. The biopharmaceutical company reported ($0.36) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.55) by $0.19. Equities research analysts predict that Trevena will post ($1.51) earnings per share for the current fiscal year.
Trevena Company Profile
Trevena Inc is a biopharmaceutical company, which is engaged in developing various therapies. The Company is developing OLINVO, a u-receptor G protein pathway selective modulator (u-GPS) for the management of moderate-to-severe acute pain where intravenous (IV) administration is preferred. It is focused on commercializing it in the United States for use in acute care settings, such as hospitals and ambulatory surgery centers.
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