Retrophin Inc. (RTRX) Upgraded to Buy by Zacks Investment Research
Retrophin Inc. (NASDAQ:RTRX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The brokerage currently has a $25.00 target price on the biopharmaceutical company’s stock. Zacks Investment Research’s price objective points to a potential upside of 11.36% from the stock’s previous close.
According to Zacks, “Retrophin is a pharmaceutical company focused on the development, acquisition and commercialization of drugs for the treatment of serious, catastrophic or rare diseases for which there are currently no viable options for patients. The Company’s approved products include Chenodal®, Cholbam, and Thiola®, and its pipeline includes compounds for several catastrophic diseases, including focal segmental glomerulosclerosis, pantothenate kinase-associated neurodegeneration, infantile spasms, nephrotic syndrome and others. Retrophin, Inc. is based in San Diego. “
Other equities research analysts also recently issued research reports about the stock. JMP Securities reiterated a “buy” rating on shares of Retrophin in a research report on Saturday, July 9th. Leerink Swann reiterated a “buy” rating and issued a $27.00 target price on shares of Retrophin in a research report on Monday, June 27th. Finally, BMO Capital Markets reiterated a “buy” rating on shares of Retrophin in a research report on Monday, June 20th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $28.40.
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Retrophin (NASDAQ:RTRX) opened at 22.45 on Wednesday. Retrophin has a 12 month low of $11.60 and a 12 month high of $24.57. The stock’s 50 day moving average is $20.89 and its 200 day moving average is $17.75. The company has a market cap of $824.61 million, a PE ratio of 9.12 and a beta of 1.02.
Retrophin (NASDAQ:RTRX) last released its earnings results on Thursday, August 4th. The biopharmaceutical company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.30. Retrophin had a net margin of 83.57% and a negative return on equity of 0.52%. The company earned $33.30 million during the quarter, compared to the consensus estimate of $32.73 million. The company’s revenue was up 38.2% on a year-over-year basis. Equities analysts predict that Retrophin will post $0.09 earnings per share for the current year.
In other news, EVP Alvin Shih sold 8,750 shares of the firm’s stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $16.24, for a total transaction of $142,100.00. Following the transaction, the executive vice president now owns 158,334 shares in the company, valued at approximately $2,571,344.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.41% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. increased its position in Retrophin by 78.4% in the second quarter. Macquarie Group Ltd. now owns 929,316 shares of the biopharmaceutical company’s stock worth $16,551,000 after buying an additional 408,281 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in Retrophin by 1.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 120,921 shares of the biopharmaceutical company’s stock worth $2,154,000 after buying an additional 2,040 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Retrophin during the second quarter worth $3,113,000. EverPoint Asset Management LLC acquired a new position in Retrophin during the second quarter worth $9,796,000. Finally, AQR Capital Management LLC increased its position in Retrophin by 4.0% in the second quarter. AQR Capital Management LLC now owns 86,775 shares of the biopharmaceutical company’s stock worth $1,546,000 after buying an additional 3,367 shares in the last quarter.
Retrophin Company Profile
Retrophin, Inc is a biopharmaceutical company focused on the development, acquisition and commercialization of therapies for the treatment of serious, catastrophic or rare diseases. It sells three products, including Chenodal (chenodeoxycholic acid), Cholbam (cholic acid) and Thiola (tiopronin). Its Chenodal is approved in the United States for the treatment of patients suffering from gallstones in whom surgery poses an unacceptable health risk due to disease or advanced age.
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