Trevena, Inc. (TRVN) Downgraded by Zacks Investment Research
Zacks Investment Research cut shares of Trevena, Inc. (NASDAQ:TRVN) from a hold rating to a sell rating in a research note published 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. “
A number of other research analysts also recently commented on TRVN. Roth Capital set a $9.00 price objective on shares of Trevena and gave the company a buy rating in a research note on Saturday, May 6th. Oppenheimer Holdings, Inc. set a $10.00 price objective on shares of Trevena and gave the company a buy rating in a research note on Thursday, May 4th. Needham & Company LLC reiterated a buy rating and set a $11.00 price objective on shares of Trevena in a research note on Wednesday, April 5th. Aegis restated a buy rating and issued a $14.00 price target on shares of Trevena in a research report on Monday, April 17th. Finally, HC Wainwright restated a buy rating on shares of Trevena in a research report on Monday, May 8th. Two investment analysts have rated the stock with a sell rating and eleven have issued a buy rating to the stock. Trevena presently has a consensus rating of Buy and a consensus target price of $11.73.
Trevena (TRVN) opened at 2.57 on Wednesday. The firm has a 50-day moving average of $2.56 and a 200-day moving average of $3.89. The firm’s market capitalization is $149.83 million. Trevena has a 1-year low of $2.15 and a 1-year high of $8.00.
Trevena (NASDAQ:TRVN) last posted its quarterly earnings data on Thursday, May 4th. The biopharmaceutical company reported ($0.36) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.55) by $0.19. On average, analysts expect that Trevena will post ($1.51) earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC increased its position in 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 last quarter. Citizens & Northern Corp increased its stake in shares of Trevena by 87.2% in the first quarter. Citizens & Northern Corp now owns 54,300 shares of the biopharmaceutical company’s stock valued at $199,000 after buying an additional 25,300 shares in the last quarter. Piermont Capital Management Inc. increased its stake in shares of Trevena by 18.8% in the first quarter. Piermont Capital Management Inc. now owns 91,290 shares of the biopharmaceutical company’s stock valued at $335,000 after buying an additional 14,420 shares in the last quarter. Sphera Funds Management LTD. purchased a new stake in shares of Trevena during the first quarter valued at $429,000. Finally, American International Group Inc. increased its stake in shares of Trevena by 7.1% in the first quarter. American International Group Inc. now owns 27,541 shares of the biopharmaceutical company’s stock valued at $101,000 after buying an additional 1,816 shares in the last quarter. Institutional investors own 64.45% of the company’s stock.
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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