Trevena, Inc. (TRVN) Sets New 1-Year Low After Analyst Downgrade
Trevena, Inc. (NASDAQ:TRVN) hit a new 52-week low during trading on Thursday after HC Wainwright lowered their price target on the stock from $8.00 to $7.00. HC Wainwright currently has a buy rating on the stock. Trevena traded as low as $1.99 and last traded at $1.99, with a volume of 2,991,116 shares trading hands. The stock had previously closed at $2.37.
TRVN has been the topic of several other research reports. Cowen and Company restated a “buy” rating and set a $10.00 price target on shares of Trevena in a research note on Friday, August 4th. Zacks Investment Research lowered shares of Trevena from a “buy” rating to a “hold” rating in a research note on Friday, August 25th. Finally, Oppenheimer Holdings, Inc. set a $8.00 price target on shares of Trevena and gave the stock a “buy” rating in a research note on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the company’s stock. Trevena currently has a consensus rating of “Buy” and an average price target of $10.48.
A number of large investors have recently bought and sold shares of TRVN. Dimensional Fund Advisors LP grew its stake in Trevena by 528.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 711,615 shares of the biopharmaceutical company’s stock valued at $1,637,000 after buying an additional 598,383 shares during the last quarter. Paulson & CO. Inc. acquired a new position in Trevena in the 1st quarter valued at $1,496,000. Palo Alto Investors LLC acquired a new position in Trevena in the 1st quarter valued at $1,253,000. FMR LLC grew its stake in Trevena by 4.5% in the 1st quarter. FMR LLC now owns 7,037,804 shares of the biopharmaceutical company’s stock valued at $25,828,000 after buying an additional 304,256 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in Trevena by 15.0% in the 2nd quarter. Vanguard Group Inc. now owns 1,822,103 shares of the biopharmaceutical company’s stock valued at $4,191,000 after buying an additional 238,089 shares during the last quarter. Institutional investors and hedge funds own 60.09% of the company’s stock.
The stock’s 50-day moving average price is $2.49 and its 200-day moving average price is $2.75. The stock’s market cap is $115.81 million.
Trevena (NASDAQ:TRVN) last posted its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.35). Equities research analysts anticipate that Trevena, Inc. will post ($1.41) earnings per share for the current fiscal year.
Trevena Company Profile
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.
Receive News & Ratings for Trevena Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trevena Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.