Shares of Tobira Therapeutics Inc. (NASDAQ:TBRA) dropped 3.7% during mid-day trading on Tuesday . The company traded as low as $4.85 and last traded at $4.88, with a volume of 525,564 shares trading hands. The stock had previously closed at $5.07.

TBRA has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Tobira Therapeutics from a “hold” rating to a “buy” rating and set a $4.75 target price for the company in a research note on Friday, July 29th. Cantor Fitzgerald cut shares of Tobira Therapeutics to a “buy” rating and set a $19.00 price objective for the company. in a research note on Monday, July 25th. Cowen and Company restated a “buy” rating and issued a $11.00 price objective on shares of Tobira Therapeutics in a research note on Wednesday, August 10th. HC Wainwright restated a “buy” rating on shares of Tobira Therapeutics in a research note on Tuesday, June 28th. Finally, Leerink Swann restated a “buy” rating and issued a $18.00 price objective on shares of Tobira Therapeutics in a research note on Tuesday, May 10th. Five investment analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and a consensus target price of $16.75.

The company’s 50-day moving average is $8.49 and its 200-day moving average is $8.39. The company’s market capitalization is $90.15 million.

Tobira Therapeutics (NASDAQ:TBRA) last issued its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.71) earnings per share for the quarter, missing the consensus estimate of ($0.63) by $0.08. The firm had revenue of $1.06 million for the quarter. On average, equities analysts predict that Tobira Therapeutics Inc. will post ($2.65) earnings per share for the current year.

In other news, major shareholder A/S Novo sold 187,500 shares of the firm’s stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $10.37, for a total transaction of $1,944,375.00. Following the completion of the transaction, the insider now directly owns 2,093,905 shares of the company’s stock, valued at approximately $21,713,794.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

An institutional investor recently bought a new position in Tobira Therapeutics stock. Marshall Wace LLP acquired a new stake in shares of Tobira Therapeutics Inc. (NASDAQ:TBRA) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 107,493 shares of the biopharmaceutical company’s stock, valued at approximately $1,080,000. Marshall Wace LLP owned about 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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