Retrophin Inc. (RTRX) Trading Down 3%
Retrophin Inc. (NASDAQ:RTRX)’s share price traded down 3% during mid-day trading on Thursday . The company 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.
A number of equities analysts have issued reports on the stock. Zacks Investment Research raised shares of Retrophin from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Thursday. Leerink Swann reissued a “buy” rating and issued a $27.00 target price on shares of Retrophin in a report on Monday, June 27th. Finally, BMO Capital Markets reissued a “buy” rating on shares of Retrophin in a report on Monday, June 20th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Retrophin currently has an average rating of “Buy” and a consensus target price of $23.60.
The firm’s 50 day moving average price is $17.72 and its 200-day moving average price is $16.00. The firm has a market cap of $684.01 million and a P/E ratio of 9.71.
Retrophin (NASDAQ:RTRX) last released its earnings results on Tuesday, May 3rd. The biopharmaceutical company reported $0.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.22) by $0.36. The firm had revenue of $29 million for the quarter, compared to analyst estimates of $31 million. During the same period in the prior year, the firm earned ($0.18) EPS. The firm’s revenue was up 66.7% on a year-over-year basis. Equities analysts forecast that Retrophin Inc. will post ($0.23) EPS for the current year.
In other news, EVP Alvin Shih sold 8,750 shares of the business’s stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $17.75, for a total transaction of $155,312.50. Following the transaction, the executive vice president now owns 167,084 shares in the company, valued at approximately $2,965,741. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Several hedge funds and institutional investors recently bought and sold shares of the company. California State Teachers Retirement System increased its position in 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 during the last quarter. Turner Investments L.P. increased its position in Retrophin by 61.6% in the fourth quarter. Turner Investments L.P. now owns 384,760 shares of the biopharmaceutical company’s stock valued at $7,422,000 after buying an additional 146,720 shares during the last quarter. Tekla Capital Management LLC bought a new position in Retrophin during the fourth quarter valued at about $6,365,000. Finally, Cornerstone Capital Management Holdings LLC. increased its position in 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 valued at $1,763,000 after buying an additional 85,521 shares during the last quarter.
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.