Zacks Investment Research Upgrades Trevena (TRVN) to “Buy”
Trevena (NASDAQ:TRVN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday. The firm currently has a $0.75 price objective on the biopharmaceutical company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 14.50% from the company’s current price.
According to Zacks, “Trevena, Inc. is a biopharmaceutical company. It focuses on discovering and developing therapeutics for G protein coupled receptors. The Company’s product pipeline includes TRV027, TRV130, TRV734 and Delta opioid biased ligand which are in different clinical phases. Trevena, Inc. is based in King of Prussia, Pennsylvania. “
Several other analysts have also weighed in on the company. HC Wainwright lowered Trevena from a “buy” rating to a “neutral” rating and decreased their price target for the company from $3.00 to $0.75 in a report on Monday, November 5th. JMP Securities increased their price target on Trevena from $4.00 to $15.00 and gave the company an “outperform” rating in a report on Friday, October 12th. Needham & Company LLC lowered Trevena from a “buy” rating to a “hold” rating in a report on Friday, October 12th. Finally, Jefferies Financial Group lowered Trevena from a “buy” rating to a “hold” rating and decreased their price target for the company from $10.00 to $1.00 in a report on Wednesday, October 10th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $5.42.
Trevena (NASDAQ:TRVN) last released its quarterly earnings results on Thursday, November 8th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.07. The company had revenue of $3.00 million for the quarter, compared to analysts’ expectations of $3.00 million. Sell-side analysts forecast that Trevena will post -0.55 EPS for the current year.
Hedge funds have recently added to or reduced their stakes in the business. FMR LLC increased its stake in Trevena by 24.0% in the second quarter. FMR LLC now owns 5,288,100 shares of the biopharmaceutical company’s stock worth $7,615,000 after purchasing an additional 1,022,830 shares during the period. Millennium Management LLC increased its stake in Trevena by 482.7% in the first quarter. Millennium Management LLC now owns 473,691 shares of the biopharmaceutical company’s stock worth $777,000 after purchasing an additional 392,405 shares during the period. LMR Partners LLP purchased a new stake in Trevena in the second quarter worth $207,000. Paloma Partners Management Co purchased a new stake in Trevena in the second quarter worth $411,000. Finally, GSA Capital Partners LLP increased its stake in Trevena by 186.2% in the second quarter. GSA Capital Partners LLP now owns 351,847 shares of the biopharmaceutical company’s stock worth $507,000 after purchasing an additional 228,900 shares during the period. Institutional investors and hedge funds own 42.33% of the company’s stock.
Trevena Company Profile
Trevena, Inc, a biopharmaceutical company, develops therapies based on breakthrough science to benefit patients and healthcare providers confronting serious medical conditions. Its product candidates include OLINVO injection, a G protein biased ligand of the µ opioid receptor that has completed Phase III clinical trials for the management of moderate-to-severe acute pain where intravenous administration is preferred; TRV250, a G protein biased ligand targeting the d-receptor, which is in Phase I clinical study for the treatment of migraine; and TRV734, a small molecule G protein biased ligand of the µ opioid receptor that has completed Phase I clinical study for the treatment of moderate-to-severe acute and chronic pain, as well as TRV027 for the treatment of acute heart failure.
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