Trevena Inc. (TRVN) Shares Up 2.5%
Shares of Trevena Inc. (NASDAQ:TRVN) shot up 2.5% on Tuesday . The stock traded as high as $6.94 and last traded at $6.85, with a volume of 155,148 shares trading hands. The stock had previously closed at $6.68.
Several research firms have recently weighed in on TRVN. Cowen and Company reiterated a “buy” rating on shares of Trevena in a research note on Sunday, April 17th. Needham & Company LLC reiterated a “buy” rating on shares of Trevena in a research note on Tuesday, May 3rd. Brean Capital reiterated a “buy” rating on shares of Trevena in a research note on Tuesday, May 3rd. Wedbush reiterated an “outperform” rating and issued a $20.00 price objective on shares of Trevena in a research note on Thursday, May 5th. Finally, FBR & Co reiterated a “buy” rating and issued a $16.00 price objective on shares of Trevena in a research note on Wednesday, May 4th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $14.30.
The stock’s market cap is $360.42 million. The stock has a 50-day moving average price of $6.58 and a 200-day moving average price of $7.49.
Trevena (NASDAQ:TRVN) last released its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by $0.01. On average, analysts anticipate that Trevena Inc. will post ($1.55) earnings per share for the current fiscal year.
In related news, CEO Maxine Gowen acquired 22,084 shares of the company’s stock in a transaction dated Friday, May 27th. The stock was purchased at an average price of $7.12 per share, with a total value of $157,238.08. Following the completion of the purchase, the chief executive officer now owns 279,025 shares in the company, valued at approximately $1,986,658. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.
An institutional investor recently raised its position in Trevena stock. Jennison Associates LLC increased its position in shares of Trevena Inc. (NASDAQ:TRVN) by 0.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 702,341 shares of the biopharmaceutical company’s stock after buying an additional 2,341 shares during the period. Jennison Associates LLC owned approximately 1.38% of Trevena worth $7,375,000 at the end of the most recent reporting period.
Trevena Inc is a clinical-stage biopharmaceutical company. The Company discovers, develops and intends to commercialize therapeutics that use an approach to target G protein coupled receptors (GPCRs). Using its product platform, the Company has identified and advanced three differentiated product candidates: Oliceridine (TRV130), TRV027 and TRV250.
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