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 Wednesday. The firm presently has a $2.25 target price on the biopharmaceutical company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 18.42% 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. “
Several other research analysts have also weighed in on the stock. Oppenheimer reissued a “buy” rating on shares of Trevena in a research note on Thursday, March 22nd. HC Wainwright lifted their price objective on shares of Trevena to $7.00 and gave the stock a “buy” rating in a research note on Thursday, March 8th. Cowen reissued a “buy” rating and set a $10.00 price objective on shares of Trevena in a research note on Monday. Finally, ValuEngine upgraded shares of Trevena from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $5.63.
Trevena stock opened at $1.90 on Wednesday. The company has a quick ratio of 4.11, a current ratio of 4.11 and a debt-to-equity ratio of 0.35.
Trevena (NASDAQ:TRVN) last released its quarterly earnings data on Thursday, May 3rd. The biopharmaceutical company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.05. equities research analysts expect that Trevena will post -0.8 earnings per share for the current year.
A number of hedge funds have recently made changes to their positions in TRVN. Northpointe Capital LLC raised its holdings in Trevena by 38.2% during the 4th quarter. Northpointe Capital LLC now owns 1,772,557 shares of the biopharmaceutical company’s stock worth $2,836,000 after buying an additional 489,532 shares during the period. Dimensional Fund Advisors LP raised its holdings in Trevena by 37.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 980,440 shares of the biopharmaceutical company’s stock worth $2,500,000 after buying an additional 268,825 shares during the period. Virtu Financial LLC raised its holdings in Trevena by 1,546.1% during the 4th quarter. Virtu Financial LLC now owns 191,701 shares of the biopharmaceutical company’s stock worth $307,000 after buying an additional 180,055 shares during the period. Goldman Sachs Group Inc. raised its holdings in Trevena by 343.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 195,253 shares of the biopharmaceutical company’s stock worth $312,000 after buying an additional 151,257 shares during the period. Finally, American Century Companies Inc. acquired a new stake in Trevena during the 4th quarter worth approximately $135,000. Hedge funds and other institutional investors own 48.93% of the company’s stock.
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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