Zacks Investment Research Lowers Trevena (TRVN) to Hold
Zacks Investment Research lowered shares of Trevena (NASDAQ:TRVN) from a buy rating to a hold rating in a research report report published on Saturday. Zacks Investment Research currently has $2.00 target price on the biopharmaceutical company’s stock.
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. “
Other analysts also recently issued research reports about the stock. Oppenheimer set a $5.00 target price on shares of Trevena and gave the company a buy rating in a report on Thursday, October 12th. HC Wainwright dropped their target price on shares of Trevena from $8.00 to $7.00 and set a buy rating for the company in a report on Thursday, October 12th. Needham & Company LLC dropped their target price on shares of Trevena from $9.00 to $7.00 and set a buy rating for the company in a report on Wednesday, November 8th. Finally, Barclays downgraded shares of Trevena from an overweight rating to an equal weight rating and dropped their target price for the company from $15.00 to $2.50 in a report on Monday, October 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $8.05.
Trevena (NASDAQ:TRVN) last posted its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.27) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.33) by $0.06. During the same quarter last year, the company posted ($0.57) earnings per share. research analysts predict that Trevena will post -1.23 earnings per share for the current year.
Hedge funds have recently modified their holdings of the business. Nationwide Fund Advisors grew its position in Trevena by 92.1% during the second quarter. Nationwide Fund Advisors now owns 49,132 shares of the biopharmaceutical company’s stock worth $113,000 after buying an additional 23,557 shares during the period. Alliancebernstein L.P. grew its holdings in Trevena by 51.9% during the 2nd quarter. Alliancebernstein L.P. now owns 55,300 shares of the biopharmaceutical company’s stock valued at $127,000 after purchasing an additional 18,900 shares in the last quarter. Virtu KCG Holdings LLC grew its holdings in Trevena by 144.0% during the 2nd quarter. Virtu KCG Holdings LLC now owns 58,660 shares of the biopharmaceutical company’s stock valued at $135,000 after purchasing an additional 34,618 shares in the last quarter. Rhumbline Advisers grew its holdings in Trevena by 30.1% during the 2nd quarter. Rhumbline Advisers now owns 64,251 shares of the biopharmaceutical company’s stock valued at $148,000 after purchasing an additional 14,880 shares in the last quarter. Finally, Bourgeon Capital Management LLC grew its holdings in Trevena by 63.1% during the 3rd quarter. Bourgeon Capital Management LLC now owns 86,500 shares of the biopharmaceutical company’s stock valued at $221,000 after purchasing an additional 33,469 shares in the last quarter. 56.10% of the stock is owned by institutional investors.
WARNING: “Zacks Investment Research Lowers Trevena (TRVN) to Hold” was first posted by Watch List News and is owned by of Watch List News. If you are accessing this piece on another site, it was copied illegally and republished in violation of US and international copyright and trademark laws. The legal version of this piece can be accessed at https://www.watchlistnews.com/zacks-investment-research-lowers-trevena-trvn-to-hold/1817193.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Trevena Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trevena and related companies with MarketBeat.com's FREE daily email newsletter.