Retrophin Inc. (RTRX) Shares Down 4.6%
Retrophin Inc. (NASDAQ:RTRX) shares dropped 4.6% during mid-day trading on Thursday . The stock traded as low as $17.45 and last traded at $17.56, with a volume of 370,066 shares. The stock had previously closed at $18.40.
RTRX has been the subject of several recent analyst reports. BMO Capital Markets initiated coverage on Retrophin in a research note on Monday, April 11th. They set an “outperform” rating and a $25.00 price objective for the company. Leerink Swann reiterated a “buy” rating and set a $4.00 price objective on shares of Retrophin in a research note on Tuesday, June 21st. Finally, Zacks Investment Research upgraded Retrophin from a “hold” rating to a “strong-buy” rating and set a $17.00 price objective for the company in a research note on Saturday, May 7th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Retrophin has an average rating of “Buy” and an average target price of $23.60.
The company has a 50 day moving average of $17.89 and a 200 day moving average of $15.94. The firm has a market cap of $642.93 million and a P/E ratio of 9.13.
Retrophin (NASDAQ:RTRX) last announced its quarterly earnings data on Tuesday, May 3rd. The biopharmaceutical company reported $0.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.22) by $0.36. The company earned $29 million during the quarter, compared to analyst estimates of $31 million. During the same period in the prior year, the firm earned ($0.18) earnings per share. Retrophin’s revenue was up 66.7% on a year-over-year basis. On average, equities analysts expect that Retrophin Inc. will post $0.08 EPS for the current fiscal year.
In other Retrophin news, EVP Alvin Shih sold 8,750 shares of Retrophin stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $17.75, for a total value of $155,312.50. Following the completion of the transaction, the executive vice president now directly owns 167,084 shares of the company’s stock, valued at approximately $2,965,741. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Several institutional investors have bought and sold shares of the company. California State Teachers Retirement System boosted 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 worth $1,250,000 after buying an additional 1,129 shares during the period. Cornerstone Capital Management Holdings LLC. boosted 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 period. Finally, Turner Investments L.P. boosted 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 period.
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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