Tobira Therapeutics Inc. (TBRA) Hits New 12-Month High at $41.39
Shares of Tobira Therapeutics Inc. (NASDAQ:TBRA) hit a new 52-week high on Tuesday . The company traded as high as $41.39 and last traded at $38.70, with a volume of 11,135,197 shares trading hands. The stock had previously closed at $4.74.
A number of analysts have weighed in on the stock. HC Wainwright restated a “buy” rating and issued a $31.00 target price (up previously from $22.00) on shares of Tobira Therapeutics in a research report on Saturday, August 13th. Cowen and Company restated a “buy” rating and issued a $11.00 target price on shares of Tobira Therapeutics in a research report on Wednesday, August 10th. Zacks Investment Research upgraded shares of Tobira Therapeutics from a “hold” rating to a “buy” rating and set a $4.75 target price on the stock in a research report on Friday, July 29th. Finally, Cantor Fitzgerald lowered shares of Tobira Therapeutics to a “buy” rating and set a $19.00 target price on the stock. in a research report on Monday, July 25th. Five equities research analysts have rated the stock with a buy rating, Tobira Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $16.75.
The firm’s market capitalization is $722.35 million. The stock’s 50-day moving average is $4.61 and its 200-day moving average is $8.02.
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Tobira Therapeutics (NASDAQ:TBRA) last announced its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.63) by $0.08. The firm had revenue of $1.06 million for the quarter. On average, analysts forecast that Tobira Therapeutics Inc. will post ($2.65) EPS for the current fiscal year.
In other news, major shareholder A/S Novo sold 92,119 shares of the firm’s stock in a transaction dated Thursday, July 7th. The shares were sold at an average price of $12.20, for a total transaction of $1,123,851.80. Following the sale, the insider now owns 2,016,691 shares of the company’s stock, valued at approximately $24,603,630.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 6.20% of the company’s stock.
Several hedge funds have recently made changes to their positions in TBRA. Franklin Resources Inc. bought a new stake in shares of Tobira Therapeutics during the first quarter worth about $4,797,000. State Street Corp increased its stake in shares of Tobira Therapeutics by 184.3% in the first quarter. State Street Corp now owns 42,875 shares of the biopharmaceutical company’s stock worth $351,000 after buying an additional 27,794 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Tobira Therapeutics by 2.5% in the first quarter. Geode Capital Management LLC now owns 32,223 shares of the biopharmaceutical company’s stock worth $263,000 after buying an additional 799 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Tobira Therapeutics during the second quarter worth about $263,000. Finally, California State Teachers Retirement System increased its stake in shares of Tobira Therapeutics by 230.2% in the second quarter. California State Teachers Retirement System now owns 18,578 shares of the biopharmaceutical company’s stock worth $233,000 after buying an additional 12,951 shares during the last quarter. 62.02% of the stock is currently owned by hedge funds and other institutional investors.
About Tobira Therapeutics
Tobira Therapeutics, Inc, formerly Regado Biosciences, Inc, is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of therapies to treat liver disease, inflammation, fibrosis and human immunodeficiency virus (HIV). The Company’s lead product candidate, cenicriviroc (CVC), is an immunomodulator and dual inhibitor of C-C Chemokine Receptor 2 (CCR2) and C-C Chemokine Receptor 5 (CCR5) being evaluated for the treatment of non-alcoholic steatohepatitis (NASH), primary sclerosing cholangitis (PSC), and as an adjunctive therapy to standard of care in HIV.
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