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 note issued to investors on Wednesday. The firm currently has a $25.00 target price on the biopharmaceutical company’s stock. Zacks Investment Research’s price target would indicate a potential upside of 11.36% from the stock’s current price.
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. “
RTRX has been the topic of a number of other reports. BMO Capital Markets reiterated an “outperform” rating and set a $40.00 target price (up from $28.00) on shares of Retrophin in a report on Thursday, September 8th. Leerink Swann reiterated a “buy” rating and set a $4.00 target price on shares of Retrophin in a report on Tuesday, June 21st. Finally, JMP Securities restated an “outperform” rating and issued a $28.00 price objective on shares of Retrophin in a report on Friday, September 9th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Retrophin currently has a consensus rating of “Buy” and an average target price of $28.40.
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Shares of 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 firm has a 50-day moving average of $20.89 and a 200 day moving average of $17.75. The stock has a market capitalization of $824.61 million, a price-to-earnings 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 the Zacks’ consensus estimate of ($0.23) by $0.30. The company had revenue of $33.30 million for the quarter, compared to analyst estimates of $32.73 million. Retrophin had a net margin of 83.57% and a negative return on equity of 0.52%. The firm’s revenue for the quarter was up 38.2% on a year-over-year basis. Equities analysts forecast that Retrophin will post $0.09 earnings per share for the current fiscal year.
In related news, EVP Alvin Shih sold 8,750 shares of Retrophin 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 sale, the executive vice president now directly owns 158,334 shares in the company, valued at approximately $2,571,344.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.41% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in RTRX. Scopia Capital Management LP raised its stake in shares of Retrophin by 874.8% in the first quarter. Scopia Capital Management LP now owns 3,598,222 shares of the biopharmaceutical company’s stock valued at $49,152,000 after buying an additional 3,229,087 shares in the last quarter. Perceptive Advisors LLC raised its stake in shares of Retrophin by 9.3% in the second quarter. Perceptive Advisors LLC now owns 3,279,380 shares of the biopharmaceutical company’s stock valued at $58,405,000 after buying an additional 280,000 shares in the last quarter. FMR LLC raised its stake in shares of Retrophin by 62.4% in the second quarter. FMR LLC now owns 1,997,470 shares of the biopharmaceutical company’s stock valued at $35,575,000 after buying an additional 767,152 shares in the last quarter. BlackRock Fund Advisors raised its stake in shares of Retrophin by 1.8% in the second quarter. BlackRock Fund Advisors now owns 1,325,946 shares of the biopharmaceutical company’s stock valued at $23,615,000 after buying an additional 22,957 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Retrophin by 5.8% in the second quarter. Vanguard Group Inc. now owns 1,255,576 shares of the biopharmaceutical company’s stock valued at $22,362,000 after buying an additional 69,097 shares in the last quarter.
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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