Trevena Inc. (TRVN) Shares Up 2.5%
Trevena Inc. (NASDAQ:TRVN) shares shot up 2.5% during trading on Tuesday . The company traded as high as $6.94 and last traded at $6.85, with a volume of 155,148 shares trading hands. The stock had previously closed at $6.68.
A number of brokerages have recently commented on TRVN. Cowen and Company reaffirmed a “buy” rating on shares of Trevena in a research report on Sunday, April 17th. FBR & Co reaffirmed an “outperform” rating and set a $16.00 price target (up previously from $13.00) on shares of Trevena in a research report on Saturday, May 14th. Wedbush reaffirmed an “outperform” rating and set a $20.00 price target on shares of Trevena in a research report on Thursday, May 5th. Needham & Company LLC reaffirmed a “buy” rating on shares of Trevena in a research report on Tuesday, May 3rd. Finally, Brean Capital reaffirmed 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 issued a hold rating and ten have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $14.30.
The firm’s 50 day moving average is $6.53 and its 200-day moving average is $7.50. The firm’s market cap is $361.59 million.
Trevena (NASDAQ:TRVN) last posted its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.37) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.36) by $0.01. Equities analysts forecast that Trevena Inc. will post ($1.45) earnings per share for the current year.
In other Trevena news, CEO Maxine Gowen bought 22,084 shares of Trevena stock in a transaction on Friday, May 27th. The stock was acquired at an average price of $7.12 per share, with a total value of $157,238.08. Following the acquisition, the chief executive officer now owns 279,025 shares in the company, valued at $1,986,658. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
An institutional investor recently raised its position in Trevena stock. Jennison Associates LLC raised its position in Trevena Inc. (NASDAQ:TRVN) by 0.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 702,341 shares of the biopharmaceutical company’s stock after buying an additional 2,341 shares during the period. Jennison Associates LLC owned 1.38% of Trevena worth $7,375,000 as of its most recent filing with the SEC.
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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