Trevena (TRVN) Downgraded by HC Wainwright
HC Wainwright cut shares of Trevena (NASDAQ:TRVN) from a buy rating to a neutral rating in a research report sent to investors on Monday, Marketbeat.com reports. The brokerage currently has $0.75 price target on the biopharmaceutical company’s stock, down from their prior price target of $3.00.
TRVN has been the topic of several other research reports. Zacks Investment Research downgraded Trevena from a buy rating to a hold rating in a research note on Wednesday, October 17th. Needham & Company LLC downgraded Trevena from a buy rating to a hold rating in a research note on Friday, October 12th. Jefferies Financial Group downgraded Trevena from a buy rating to a hold rating and dropped their price objective for the company from $10.00 to $1.00 in a research note on Wednesday, October 10th. Finally, JMP Securities upped their price objective on Trevena from $4.00 to $15.00 and gave the company an outperform rating in a research note on Friday, October 12th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $5.79.
Shares of TRVN stock traded up $0.02 during trading on Monday, hitting $0.63. The company’s stock had a trading volume of 27,179 shares, compared to its average volume of 6,336,475. The firm has a market cap of $47.17 million, a PE ratio of -0.53 and a beta of 0.61. The company has a quick ratio of 3.40, a current ratio of 3.40 and a debt-to-equity ratio of 0.28. Trevena has a 52 week low of $0.55 and a 52 week high of $3.58.
Trevena Company Profile
Trevena, Inc, a biopharmaceutical company, develops therapies based on breakthrough science to benefit patients and healthcare providers confronting serious medical conditions. Its product candidates include OLINVO injection, a G protein biased ligand of the µ opioid receptor that has completed Phase III clinical trials for the management of moderate-to-severe acute pain where intravenous administration is preferred; TRV250, a G protein biased ligand targeting the d-receptor, which is in Phase I clinical study for the treatment of migraine; and TRV734, a small molecule G protein biased ligand of the µ opioid receptor that has completed Phase I clinical study for the treatment of moderate-to-severe acute and chronic pain, as well as TRV027 for the treatment of acute heart failure.
Further Reading: Dollar Cost Averaging
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