Trevena Inc. (TRVN) Trading 1.8% Higher
Trevena Inc. (NASDAQ:TRVN) traded up 1.8% during mid-day trading on Friday . The company traded as high as $6.79 and last traded at $6.71, with a volume of 373,255 shares. The stock had previously closed at $6.59.
A number of equities research analysts have issued reports on the company. Cowen and Company reiterated a “buy” rating on shares of Trevena in a research note on Sunday, April 17th. Needham & Company LLC restated a “buy” rating on shares of Trevena in a research report on Tuesday, May 3rd. FBR & Co restated an “outperform” rating and set a $16.00 price objective (up previously from $13.00) on shares of Trevena in a research report on Saturday, May 14th. Zacks Investment Research lowered Trevena from a “hold” rating to a “sell” rating in a research report on Tuesday, July 12th. Finally, Wedbush restated an “outperform” rating and set a $20.00 price objective on shares of Trevena in a research report on Thursday, May 5th. Two research analysts have rated the stock with a sell rating and ten have issued a buy rating to the company. Trevena presently has an average rating of “Buy” and an average target price of $14.70.
The stock has a 50 day moving average of $6.79 and a 200 day moving average of $7.77. The stock’s market capitalization is $350.09 million.
Trevena (NASDAQ:TRVN) last issued its quarterly earnings data on Thursday, May 5th. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by $0.03. On average, analysts forecast that Trevena Inc. will post ($1.29) EPS for the current year.
In other news, CEO Maxine Gowen acquired 22,084 shares of the firm’s stock in a transaction on Friday, May 27th. The stock was acquired at an average price of $7.12 per share, for a total transaction of $157,238.08. Following the completion of the transaction, the chief executive officer now owns 279,025 shares in the company, valued at approximately $1,986,658. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.
Other hedge funds and institutional investors have recently modified their holdings of the company. Jennison Associates LLC increased its position in shares of Trevena by 0.3% in the fourth quarter. Jennison Associates LLC now owns 702,341 shares of the biopharmaceutical company’s stock worth $7,375,000 after buying an additional 2,341 shares during the period. California State Teachers Retirement System boosted its stake in Trevena by 77.9% in the fourth quarter. California State Teachers Retirement System now owns 103,238 shares of the biopharmaceutical company’s stock worth $1,084,000 after buying an additional 45,212 shares in the last quarter. Marshall Wace LLP bought a new stake in Trevena during the fourth quarter worth approximately $1,929,000. Finally, AWM Investment Company Inc. bought a new stake in Trevena during the fourth quarter worth approximately $2,100,000.
Trevena Inc is a clinical-stage biopharmaceutical company. The Company discovers, develops and intends to commercialize therapeutics that use an approach to target G protein coupled receptors (GPCRs). Using its product platform, the Company has identified and advanced three differentiated product candidates: Oliceridine (TRV130), TRV027 and TRV250.