Retrophin Inc. (RTRX) Shares Down 4.9%
Shares of Retrophin Inc. (NASDAQ:RTRX) dropped 4.9% during mid-day trading on Monday . The company traded as low as $17.49 and last traded at $17.57, with a volume of 291,310 shares trading hands. The stock had previously closed at $18.48.
RTRX has been the subject of a number of recent analyst reports. Zacks Investment Research lowered shares of Retrophin from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 6th. Leerink Swann reissued a “buy” rating on shares of Retrophin in a research note on Wednesday, May 11th. BMO Capital Markets reissued a “buy” rating on shares of Retrophin in a research note on Wednesday, May 4th. Finally, JMP Securities reissued a “buy” rating on shares of Retrophin in a research note on Saturday, July 9th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Retrophin presently has a consensus rating of “Buy” and an average price target of $23.60.
The firm has a 50 day moving average price of $17.91 and a 200-day moving average price of $15.91. The firm has a market capitalization of $641.83 million and a P/E ratio of 9.11.
Retrophin (NASDAQ:RTRX) last released its quarterly earnings results on Tuesday, May 3rd. The biopharmaceutical company reported $0.14 EPS for the quarter, topping the consensus estimate of ($0.22) by $0.36. During the same period last year, the firm earned ($0.18) EPS. The firm had revenue of $29 million for the quarter, compared to analyst estimates of $31 million. The company’s quarterly revenue was up 66.7% on a year-over-year basis. On average, equities research analysts anticipate that Retrophin Inc. will post $0.08 EPS for the current year.
In other Retrophin news, EVP Alvin Shih sold 8,750 shares of Retrophin stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $17.75, for a total transaction of $155,312.50. Following the transaction, the executive vice president now owns 167,084 shares of the company’s stock, valued at $2,965,741. The transaction was disclosed in a filing with the SEC, which is available at this link.
Other hedge funds and institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System raised its position in Retrophin by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 64,781 shares of the biopharmaceutical company’s stock valued at $1,250,000 after buying an additional 1,129 shares during the period. Cornerstone Capital Management Holdings LLC. raised its position in Retrophin by 1,449.5% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 91,421 shares of the biopharmaceutical company’s stock worth $1,763,000 after buying an additional 85,521 shares during the last quarter. Tekla Capital Management LLC bought a new position in Retrophin during the fourth quarter worth about $6,365,000. Finally, Turner Investments L.P. raised its position in Retrophin by 61.6% in the fourth quarter. Turner Investments L.P. now owns 384,760 shares of the biopharmaceutical company’s stock worth $7,422,000 after buying an additional 146,720 shares during the last quarter.
Retrophin, Inc is a biopharmaceutical company focused on the development, acquisition and commercialization of therapies for the treatment of serious, catastrophic or rare diseases. It sells three products, including Chenodal (chenodeoxycholic acid), Cholbam (cholic acid) and Thiola (tiopronin). Its Chenodal is approved in the United States for the treatment of patients suffering from gallstones in whom surgery poses an unacceptable health risk due to disease or advanced age.
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