Retrophin, Inc. (RTRX) Rating Lowered to Hold at Zacks Investment Research
Retrophin, Inc. (NASDAQ:RTRX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.
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. “
Several other analysts have also commented on the stock. BMO Capital Markets increased their target price on shares of Retrophin from $40.00 to $46.00 and gave the company an “outperform” rating in a research note on Monday, November 21st. JMP Securities reissued a “buy” rating on shares of Retrophin in a research note on Friday, November 11th. Finally, TheStreet lowered shares of Retrophin from a “hold” rating to a “sell” rating in a research note on Friday, November 4th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $28.80.
Shares of Retrophin (NASDAQ:RTRX) traded up 5.15% during mid-day trading on Wednesday, hitting $20.20. 200,198 shares of the stock traded hands. The company’s market cap is $762.19 million. Retrophin has a 52 week low of $11.60 and a 52 week high of $24.57. The stock has a 50-day moving average of $20.04 and a 200-day moving average of $19.62.
Retrophin (NASDAQ:RTRX) last released its earnings results on Thursday, November 3rd. The biopharmaceutical company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.38 by $0.47. Retrophin had a negative net margin of 32.96% and a negative return on equity of 1.33%. The business had revenue of $33.95 million for the quarter, compared to analyst estimates of $34.84 million. During the same period in the prior year, the company earned ($0.05) earnings per share. The firm’s revenue for the quarter was up 21.2% on a year-over-year basis. Analysts anticipate that Retrophin will post ($1.32) EPS for the current year.
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In related news, CEO Steve Aselage sold 8,200 shares of the company’s stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $21.12, for a total value of $173,184.00. Following the completion of the sale, the chief executive officer now owns 248,756 shares in the company, valued at approximately $5,253,726.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.41% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Scopia Capital Management LP bought a new stake in Retrophin during the third quarter worth about $95,180,000. FMR LLC increased its stake in Retrophin by 62.4% in the second quarter. FMR LLC now owns 1,997,470 shares of the biopharmaceutical company’s stock worth $35,575,000 after buying an additional 767,152 shares during the last quarter. EverPoint Asset Management LLC bought a new stake in Retrophin during the second quarter worth about $9,796,000. Macquarie Group Ltd. increased its stake 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 during the last quarter. Finally, Consonance Capital Management LP increased its stake in Retrophin by 14.3% in the third quarter. Consonance Capital Management LP now owns 3,084,947 shares of the biopharmaceutical company’s stock worth $69,041,000 after buying an additional 385,000 shares during 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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