Trevena (TRVN) Cut to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Trevena (NASDAQ:TRVN) from a buy rating to a hold rating in a report issued on Tuesday.

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. “

A number of other analysts have also recently weighed in on the stock. Oppenheimer reiterated a buy rating on shares of Trevena in a research note on Thursday, March 22nd. HC Wainwright increased their price target on shares of Trevena to $7.00 and gave the stock a buy rating in a research note on Thursday, March 8th. Cowen reiterated a buy rating and set a $10.00 price target on shares of Trevena in a research note on Monday, May 7th. Finally, ValuEngine upgraded shares of Trevena from a strong sell rating to a sell rating in a research note on Wednesday, May 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. Trevena presently has a consensus rating of Hold and an average target price of $5.63.

Shares of NASDAQ:TRVN opened at $1.87 on Tuesday. The firm has a market cap of $118.94 million, a P/E ratio of -1.55 and a beta of -0.54. 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 has a 1-year low of $1.34 and a 1-year high of $3.10.

Trevena (NASDAQ:TRVN) last issued its quarterly earnings results on Thursday, May 3rd. The biopharmaceutical company reported ($0.14) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.05. research analysts expect that Trevena will post -0.69 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC lifted its stake in shares of Trevena by 482.7% in the 1st quarter. Millennium Management LLC now owns 473,691 shares of the biopharmaceutical company’s stock worth $777,000 after acquiring an additional 392,405 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Trevena by 635.7% in the 1st quarter. JPMorgan Chase & Co. now owns 89,228 shares of the biopharmaceutical company’s stock worth $146,000 after acquiring an additional 77,100 shares during the period. Northern Trust Corp lifted its stake in shares of Trevena by 6.6% in the 1st quarter. Northern Trust Corp now owns 579,697 shares of the biopharmaceutical company’s stock worth $950,000 after acquiring an additional 35,967 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in shares of Trevena by 55.0% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 144,362 shares of the biopharmaceutical company’s stock worth $237,000 after acquiring an additional 51,200 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Trevena by 343.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 195,253 shares of the biopharmaceutical company’s stock worth $312,000 after acquiring an additional 151,257 shares during the period. Institutional investors own 49.26% of the company’s stock.

About Trevena

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.

Get a free copy of the Zacks research report on Trevena (TRVN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Trevena (NASDAQ:TRVN)

Receive News & Ratings for Trevena Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trevena and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply