Tobira Therapeutics Inc. (NASDAQ:TBRA) shares dropped 1.4% during mid-day trading on Friday . The company traded as low as $11.60 and last traded at $11.70, with a volume of 65,892 shares trading hands. The stock had previously closed at $11.87.

TBRA has been the topic of a number of recent research reports. Zacks Investment Research lowered shares of Tobira Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, April 22nd. Cowen and Company reiterated a “buy” rating on shares of Tobira Therapeutics in a report on Tuesday, May 10th. Leerink Swann reiterated a “buy” rating and set a $18.00 price objective on shares of Tobira Therapeutics in a report on Tuesday, May 10th. HC Wainwright initiated coverage on shares of Tobira Therapeutics in a report on Monday, April 11th. They set a “buy” rating and a $22.00 price objective on the stock. Finally, Cantor Fitzgerald initiated coverage on shares of Tobira Therapeutics in a report on Wednesday, July 6th. They set a “buy” rating and a $27.00 price objective on the stock. Five equities research analysts have rated the stock with a buy rating, Tobira Therapeutics has a consensus rating of “Buy” and an average price target of $20.20.

The stock has a 50 day moving average price of $11.52 and a 200-day moving average price of $8.75. The firm’s market capitalization is $220.14 million.

Tobira Therapeutics (NASDAQ:TBRA) last released its earnings results on Monday, May 9th. The biopharmaceutical company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by $0.12. On average, analysts expect that Tobira Therapeutics Inc. will post ($2.49) earnings per share for the current year.

In related news, major shareholder A/S Novo sold 66,814 shares of Tobira Therapeutics stock in a transaction dated Thursday, June 30th. The stock was sold at an average price of $13.04, for a total transaction of $871,254.56. Following the transaction, the insider now directly owns 2,073,022 shares of the company’s stock, valued at $27,032,206.88. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

An institutional investor recently bought a new position in Tobira Therapeutics stock. Marshall Wace LLP purchased a new position in Tobira Therapeutics Inc. (NASDAQ:TBRA) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 107,493 shares of the biopharmaceutical company’s stock, valued at approximately $1,080,000. Marshall Wace LLP owned approximately 0.57% of Tobira Therapeutics at the end of the most recent reporting period.

Tobira Therapeutics, Inc, formerly Regado Biosciences, Inc, is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of therapies to treat liver disease, inflammation, fibrosis and human immunodeficiency virus (HIV). The Company’s lead product candidate, cenicriviroc (CVC), is an immunomodulator and dual inhibitor of C-C Chemokine Receptor 2 (CCR2) and C-C Chemokine Receptor 5 (CCR5) being evaluated for the treatment of non-alcoholic steatohepatitis (NASH), primary sclerosing cholangitis (PSC), and as an adjunctive therapy to standard of care in HIV.

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