Retrophin Inc. (RTRX) Upgraded to Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of Retrophin Inc. (NASDAQ:RTRX) from a hold rating to a buy rating in a report released on Wednesday morning. Zacks Investment Research currently has $25.00 price objective on the biopharmaceutical company’s stock.
According to Zacks, “Retrophin is a pharmaceutical company focused on the development, acquisition and commercialization of drugs for the treatment of serious, catastrophic or rare diseases for which there are currently no viable options for patients. The Company’s approved products include Chenodal®, Cholbam, and Thiola®, and its pipeline includes compounds for several catastrophic diseases, including focal segmental glomerulosclerosis, pantothenate kinase-associated neurodegeneration, infantile spasms, nephrotic syndrome and others. Retrophin, Inc. is based in San Diego. “
RTRX has been the subject of a number of other reports. BMO Capital Markets restated an outperform rating and issued a $40.00 target price (up from $28.00) on shares of Retrophin in a report on Thursday, September 8th. Leerink Swann restated a buy rating and issued a $4.00 target price on shares of Retrophin in a report on Tuesday, June 21st. Finally, JMP Securities restated a buy rating on shares of Retrophin in a report on Saturday, July 9th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $28.40.
Shares of Retrophin (NASDAQ:RTRX) opened at 22.04 on Wednesday. The stock has a 50 day moving average of $21.00 and a 200-day moving average of $17.78. The firm has a market capitalization of $809.55 million, a price-to-earnings ratio of 8.95 and a beta of 1.02. Retrophin has a one year low of $11.60 and a one year high of $24.57.
Retrophin (NASDAQ:RTRX) last released its earnings results on Thursday, August 4th. The biopharmaceutical company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.30. Retrophin had a net margin of 83.57% and a negative return on equity of 0.52%. The firm earned $33.30 million during the quarter, compared to the consensus estimate of $32.73 million. Retrophin’s revenue was up 38.2% on a year-over-year basis. On average, equities analysts anticipate that Retrophin will post $0.09 earnings per share for the current fiscal year.
In other Retrophin news, EVP Alvin Shih sold 8,750 shares of the business’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $16.24, for a total transaction of $142,100.00. Following the completion of the sale, the executive vice president now directly owns 158,334 shares in the company, valued at $2,571,344.16. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 2.41% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. First Mercantile Trust Co. boosted its position in Retrophin by 35.4% in the second quarter. First Mercantile Trust Co. now owns 5,930 shares of the biopharmaceutical company’s stock worth $106,000 after buying an additional 1,550 shares during the last quarter. BlackRock Inc. boosted its stake in Retrophin by 479.1% in the second quarter. BlackRock Inc. now owns 13,070 shares of the biopharmaceutical company’s stock valued at $233,000 after buying an additional 10,813 shares in the last quarter. Alambic Investment Management L.P. boosted its stake in Retrophin by 9.0% in the second quarter. Alambic Investment Management L.P. now owns 18,800 shares of the biopharmaceutical company’s stock valued at $335,000 after buying an additional 1,550 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in Retrophin by 71.1% in the second quarter. UBS Asset Management Americas Inc. now owns 19,500 shares of the biopharmaceutical company’s stock valued at $347,000 after buying an additional 8,100 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its stake in Retrophin by 30.1% in the second quarter. DekaBank Deutsche Girozentrale now owns 20,300 shares of the biopharmaceutical company’s stock valued at $364,000 after buying an additional 4,700 shares in the last quarter.
Retrophin Company Profile
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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