HC Wainwright Lowers Trevena (TRVN) Price Target to $3.00

Trevena (NASDAQ:TRVN) had its target price decreased by HC Wainwright from $7.00 to $3.00 in a research note published on Friday. HC Wainwright currently has a buy rating on the biopharmaceutical company’s stock.

A number of other brokerages also recently commented on TRVN. Zacks Investment Research upgraded shares of Trevena from a hold rating to a buy rating and set a $1.75 price objective for the company in a research report on Friday, August 17th. Jefferies Financial Group downgraded shares of Trevena from a buy rating to a hold rating and reduced their price objective for the company from $10.00 to $1.00 in a research report on Wednesday. JMP Securities raised their price objective on shares of Trevena from $4.00 to $15.00 and gave the company an outperform rating in a research report on Friday. Finally, Needham & Company LLC downgraded shares of Trevena from a buy rating to a hold rating in a research report on Friday. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $5.66.

NASDAQ:TRVN traded down $0.07 during mid-day trading on Friday, reaching $0.88. The stock had a trading volume of 12,717,879 shares, compared to its average volume of 1,749,324. The company has a quick ratio of 3.40, a current ratio of 3.40 and a debt-to-equity ratio of 0.28. The company has a market cap of $161.29 million, a P/E ratio of -0.73 and a beta of -0.38. Trevena has a twelve month low of $0.76 and a twelve month high of $3.58.

Trevena (NASDAQ:TRVN) last announced its quarterly earnings data on Thursday, August 2nd. The biopharmaceutical company reported ($0.13) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.13). The firm had revenue of $2.50 million during the quarter, compared to analyst estimates of $5.50 million. Analysts expect that Trevena will post -0.61 EPS for the current year.

Several hedge funds have recently bought and sold shares of the company. Northern Trust Corp lifted its position in shares of Trevena by 6.6% during the 1st quarter. Northern Trust Corp now owns 579,697 shares of the biopharmaceutical company’s stock valued at $950,000 after acquiring an additional 35,967 shares during the period. Schwab Charles Investment Management Inc. lifted its position in shares of Trevena by 55.0% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 144,362 shares of the biopharmaceutical company’s stock valued at $237,000 after acquiring an additional 51,200 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Trevena by 635.7% during the 1st quarter. JPMorgan Chase & Co. now owns 89,228 shares of the biopharmaceutical company’s stock valued at $146,000 after acquiring an additional 77,100 shares during the period. LMR Partners LLP acquired a new stake in shares of Trevena during the 2nd quarter valued at approximately $207,000. Finally, GSA Capital Partners LLP lifted its position in shares of Trevena by 186.2% during the 2nd quarter. GSA Capital Partners LLP now owns 351,847 shares of the biopharmaceutical company’s stock valued at $507,000 after acquiring an additional 228,900 shares during the period. Institutional investors own 43.08% 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.

Further Reading: Buyback

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