Cantor Fitzgerald Downgrades Tobira Therapeutics Inc. (TBRA) to Hold
Tobira Therapeutics Inc. (NASDAQ:TBRA) was downgraded by stock analysts at Cantor Fitzgerald from a “buy” rating to a “hold” rating in a report released on Wednesday.
Several other equities analysts have also weighed in on the stock. HC Wainwright restated a “buy” rating and set a $31.00 target price (up previously from $22.00) on shares of Tobira Therapeutics in a report on Saturday, August 13th. Cowen and Company restated a “buy” rating and set a $11.00 target price on shares of Tobira Therapeutics in a report on Wednesday, August 10th. Finally, Zacks Investment Research raised shares of Tobira Therapeutics from a “hold” rating to a “buy” rating and set a $4.75 price target on the stock in a research note on Friday, July 29th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Tobira Therapeutics has a consensus rating of “Buy” and an average target price of $64.79.
Shares of Tobira Therapeutics (NASDAQ:TBRA) opened at 39.50 on Wednesday. The stock’s 50 day moving average is $7.62 and its 200 day moving average is $8.70. The firm’s market cap is $743.43 million. Tobira Therapeutics has a 52 week low of $3.76 and a 52 week high of $41.39.
Tobira Therapeutics (NASDAQ:TBRA) last posted its earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.71) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.63) by $0.08. The company had revenue of $1.06 million for the quarter. On average, equities research analysts predict that Tobira Therapeutics will post ($2.65) earnings per share for the current fiscal year.
In related news, major shareholder Pentwater Capital Management L bought 1,624,200 shares of the company’s stock in a transaction dated Thursday, September 22nd. The stock was bought at an average price of $39.04 per share, with a total value of $63,408,768.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder A/S Novo sold 66,814 shares of the business’s 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 completion of the sale, the insider now directly owns 2,073,022 shares of the company’s stock, valued at approximately $27,032,206.88. The disclosure for this sale can be found here. Corporate insiders own 6.20% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in Tobira Therapeutics by 2.5% in the first quarter. Geode Capital Management LLC now owns 32,223 shares of the biopharmaceutical company’s stock valued at $263,000 after buying an additional 799 shares during the last quarter. Franklin Resources Inc. bought a new stake in Tobira Therapeutics during the first quarter valued at $4,797,000. State Street Corp increased its stake in Tobira Therapeutics by 184.3% in the first quarter. State Street Corp now owns 42,875 shares of the biopharmaceutical company’s stock valued at $351,000 after buying an additional 27,794 shares during the last quarter. Teachers Advisors Inc. increased its stake in Tobira Therapeutics by 287.1% in the second quarter. Teachers Advisors Inc. now owns 14,484 shares of the biopharmaceutical company’s stock valued at $182,000 after buying an additional 10,742 shares during the last quarter. Finally, TFS Capital LLC bought a new stake in Tobira Therapeutics during the second quarter valued at $533,000. 62.02% of the stock is owned by institutional investors.
About Tobira Therapeutics
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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