Trevena Inc. (TRVN) Trading 2.7% Higher
Trevena Inc. (NASDAQ:TRVN)’s share price traded up 2.7% during trading on Tuesday . The company traded as high as $6.62 and last traded at $6.56, with a volume of 141,705 shares traded. The stock had previously closed at $6.39.
A number of equities research analysts have recently issued reports on TRVN shares. FBR & Co boosted their target price on shares of Trevena from $13.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, May 17th. Cowen and Company reissued a “buy” rating on shares of Trevena in a research report on Sunday, April 17th. TheStreet cut shares of Trevena from a “hold” rating to a “sell” rating in a research report on Friday, June 17th. Zacks Investment Research raised shares of Trevena from a “sell” rating to a “hold” rating in a research report on Wednesday, July 20th. Finally, Brean Capital reissued a “buy” rating on shares of Trevena in a research report on Tuesday, May 3rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company. Trevena presently has a consensus rating of “Buy” and a consensus price target of $14.70.
The stock’s market capitalization is $341.22 million. The firm has a 50 day moving average of $6.51 and a 200-day moving average of $7.52.
Trevena (NASDAQ:TRVN) last announced its earnings results on Thursday, May 5th. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by $0.03. Equities analysts expect that Trevena Inc. will post ($1.29) EPS for the current fiscal year.
In other Trevena news, CEO Maxine Gowen bought 22,084 shares of the firm’s stock in a transaction dated Friday, May 27th. The stock was purchased at an average cost of $7.12 per share, with a total value of $157,238.08. Following the transaction, the chief executive officer now directly owns 279,025 shares in the company, valued at approximately $1,986,658. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
Several large investors have made changes to their positions in TRVN. California State Teachers Retirement System raised its stake in shares of Trevena by 77.9% in the fourth quarter. California State Teachers Retirement System now owns 103,238 shares of the biopharmaceutical company’s stock valued at $1,084,000 after buying an additional 45,212 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Trevena during the fourth quarter valued at about $1,929,000. Finally, Jennison Associates LLC raised its stake 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 valued at $7,375,000 after buying an additional 2,341 shares in the last quarter.
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.
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