Trevena, Inc. (NASDAQ:TRVN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, October 18th. The brokerage currently has a $2.50 target price on the biopharmaceutical company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 62.34% from the company’s previous close.
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. “
Other equities research analysts have also issued research reports about the company. Oppenheimer Holdings, Inc. set a $5.00 price target on Trevena and gave the stock a “buy” rating in a research report on Thursday, October 12th. HC Wainwright dropped their target price on Trevena from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Thursday, October 12th. Cowen and Company reissued a “buy” rating and issued a $10.00 target price on shares of Trevena in a research report on Friday, August 4th. Finally, Barclays PLC lowered Trevena from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $15.00 to $2.50 in a research report on Monday, October 16th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $9.25.
Trevena (NASDAQ TRVN) traded down 0.65% during midday trading on Wednesday, hitting $1.54. 761,697 shares of the company traded hands. Trevena has a 12-month low of $1.43 and a 12-month high of $8.00. The stock has a 50 day moving average price of $2.28 and a 200-day moving average price of $2.60. The company’s market cap is $91.93 million.
Trevena (NASDAQ:TRVN) last released its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.35) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.35). Analysts expect that Trevena will post ($1.36) EPS for the current year.
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Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its stake in Trevena by 40.4% in the 1st quarter. Bank of New York Mellon Corp now owns 231,553 shares of the biopharmaceutical company’s stock valued at $851,000 after purchasing an additional 66,577 shares during the period. Goldman Sachs Group Inc. boosted its stake in Trevena by 12.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 59,522 shares of the biopharmaceutical company’s stock valued at $218,000 after purchasing an additional 6,402 shares during the period. Wells Fargo & Company MN boosted its stake in Trevena by 38.4% in the 1st quarter. Wells Fargo & Company MN now owns 222,349 shares of the biopharmaceutical company’s stock valued at $817,000 after purchasing an additional 61,650 shares during the period. Highbridge Capital Management LLC bought a new stake in Trevena in the 1st quarter valued at $440,000. Finally, Weiss Multi Strategy Advisers LLC bought a new stake in Trevena in the 1st quarter valued at $184,000. Institutional investors and hedge funds own 60.09% of the company’s stock.
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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