Trevena, Inc. (NASDAQ:TRVN) Downgraded by Zacks Investment Research
Trevena, Inc. (NASDAQ:TRVN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday.
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. “
Several other research analysts have also recently commented on the company. ValuEngine cut Trevena from a “sell” rating to a “strong sell” rating in a research report on Friday, June 2nd. Needham & Company LLC increased their price target on Trevena from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Monday, May 15th. HC Wainwright reissued a “buy” rating on shares of Trevena in a research report on Monday, May 8th. Roth Capital set a $9.00 price target on Trevena and gave the company a “buy” rating in a research report on Saturday, May 6th. Finally, Oppenheimer Holdings, Inc. set a $10.00 price objective on Trevena and gave the company a “buy” rating in a research report on Thursday, May 4th. Two equities research analysts have rated the stock with a sell rating and eleven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $11.73.
Shares of Trevena (NASDAQ TRVN) traded down 2.2269% on Wednesday, hitting $2.7572. The company had a trading volume of 38,976 shares. The firm’s market capitalization is $160.75 million. The firm has a 50 day moving average of $2.53 and a 200-day moving average of $3.97. Trevena has a 12-month low of $2.15 and a 12-month high of $8.00.
Trevena (NASDAQ:TRVN) last issued its quarterly earnings results on Thursday, May 4th. The biopharmaceutical company reported ($0.36) EPS for the quarter, beating the consensus estimate of ($0.55) by $0.19. On average, equities analysts predict that Trevena will post ($1.51) EPS for the current year.
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Several hedge funds have recently added to or reduced their stakes in the stock. FMR LLC raised its position in shares of Trevena by 4.5% in the first quarter. FMR LLC now owns 7,037,804 shares of the biopharmaceutical company’s stock worth $25,828,000 after buying an additional 304,256 shares during the period. Northpointe Capital LLC raised its position in shares of Trevena by 170.0% in the first quarter. Northpointe Capital LLC now owns 1,163,184 shares of the biopharmaceutical company’s stock worth $4,269,000 after buying an additional 732,365 shares during the period. State Street Corp raised its position in shares of Trevena by 3.9% in the fourth quarter. State Street Corp now owns 706,305 shares of the biopharmaceutical company’s stock worth $4,154,000 after buying an additional 26,620 shares during the period. Paulson & CO. Inc. purchased a new position in shares of Trevena during the first quarter worth $1,496,000. Finally, Geode Capital Management LLC raised its position in shares of Trevena by 4.2% in the first quarter. Geode Capital Management LLC now owns 390,429 shares of the biopharmaceutical company’s stock worth $1,432,000 after buying an additional 15,839 shares during the period. 64.45% of the stock is owned by institutional investors.
Trevena Inc is a biopharmaceutical company, which is engaged in developing various therapies. The Company is developing OLINVO, a u-receptor G protein pathway selective modulator (u-GPS) for the management of moderate-to-severe acute pain where intravenous (IV) administration is preferred. It is focused on commercializing it in the United States for use in acute care settings, such as hospitals and ambulatory surgery centers.
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