Retrophin Inc. (RTRX) Trading Down 3%
Retrophin Inc. (NASDAQ:RTRX)’s share price fell 3% during mid-day trading on Thursday . The stock traded as low as $17.84 and last traded at $17.93, with a volume of 104,442 shares traded. The stock had previously closed at $18.49.
Several research firms have weighed in on RTRX. Zacks Investment Research cut Retrophin from a “buy” rating to a “hold” rating in a report on Friday, April 22nd. BMO Capital Markets restated a “buy” rating on shares of Retrophin in a research note on Wednesday, May 4th. Finally, Leerink Swann reiterated an “outperform” rating and set a $27.00 price objective on shares of Retrophin in a research note on Wednesday, March 9th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Retrophin presently has a consensus rating of “Buy” and an average target price of $23.60.
The company has a market capitalization of $671.17 million and a price-to-earnings ratio of 9.53. The stock’s 50 day moving average is $17.59 and its 200-day moving average is $15.99.
Retrophin (NASDAQ:RTRX) last issued its quarterly earnings data on Tuesday, May 3rd. The biopharmaceutical company reported $0.14 EPS for the quarter, beating the consensus estimate of ($0.22) by $0.36. During the same quarter in the prior year, the company posted ($0.18) EPS. The business had revenue of $29 million for the quarter, compared to analysts’ expectations of $31 million. The business’s revenue for the quarter was up 66.7% on a year-over-year basis. On average, equities research analysts expect that Retrophin Inc. will post ($0.23) EPS for the current fiscal year.
In other news, EVP Alvin Shih sold 8,750 shares of the stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $17.75, for a total transaction of $155,312.50. Following the completion of the sale, the executive vice president now owns 167,084 shares in the company, valued at approximately $2,965,741. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Other hedge funds have modified their holdings of the company. California State Teachers Retirement System raised its stake in shares of Retrophin by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 64,781 shares of the biopharmaceutical company’s stock valued at $1,250,000 after buying an additional 1,129 shares in the last quarter. Turner Investments L.P. raised its position in shares of 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. Oxford Asset Management purchased a new position in shares of Retrophin during the fourth quarter worth about $4,746,000. Tekla Capital Management LLC purchased a new position in shares of Retrophin during the fourth quarter worth about $6,365,000. Finally, Cornerstone Capital Management Holdings LLC. raised its position in shares of 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.
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.