Trevena Inc. (TRVN) Trading Up 4.6%
Trevena Inc. (NASDAQ:TRVN) shares were up 4.6% on Monday . The stock traded as high as $7.30 and last traded at $7.29, with a volume of 247,714 shares traded. The stock had previously closed at $6.97.
TRVN has been the topic of several research reports. Brean Capital reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Trevena in a research report on Friday, August 5th. FBR & Co reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Trevena in a research report on Wednesday, May 4th. Needham & Company LLC reaffirmed a “buy” rating on shares of Trevena in a research report on Tuesday, May 3rd. Jefferies Group reissued a “buy” rating on shares of Trevena in a research report on Friday, August 5th. Finally, Cowen and Company reissued a “buy” rating on shares of Trevena in a research report on Monday, May 16th. One analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company. Trevena has an average rating of “Buy” and a consensus price target of $14.30.
The company’s market capitalization is $381.42 million. The company has a 50-day moving average price of $6.65 and a 200-day moving average price of $7.49.
Trevena (NASDAQ:TRVN) last announced its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by $0.01. Equities analysts expect that Trevena Inc. will post ($1.55) earnings per share for the current year.
In other Trevena news, CEO Maxine Gowen acquired 22,084 shares of the stock in a transaction dated Friday, May 27th. The shares were purchased at an average price of $7.12 per share, for a total transaction of $157,238.08. Following the purchase, the chief executive officer now directly owns 279,025 shares of the company’s stock, valued at $1,986,658. The acquisition was disclosed in a filing with the SEC, which is available at this link.
An institutional investor recently raised its position in Trevena stock. Jennison Associates LLC raised its stake in Trevena Inc. (NASDAQ:TRVN) by 0.3% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 702,341 shares of the biopharmaceutical company’s stock after buying an additional 2,341 shares during the period. Jennison Associates LLC owned approximately 1.38% of Trevena worth $7,375,000 at the end of the most recent 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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