Trevena Inc. (TRVN) Trading 2.4% Higher
Trevena Inc. (NASDAQ:TRVN) shares traded up 2.4% during trading on Monday . The company traded as high as $7.46 and last traded at $7.37, with a volume of 151,852 shares trading hands. The stock had previously closed at $7.20.
A number of research analysts have recently commented on the company. FBR & Co restated an “outperform” rating and issued a $16.00 target price (up previously from $13.00) on shares of Trevena in a research note on Saturday, May 14th. Wedbush restated an “outperform” rating and issued a $20.00 target price on shares of Trevena in a research note on Thursday, May 5th. Needham & Company LLC reiterated a “buy” rating on shares of Trevena in a research note on Tuesday, May 3rd. Brean Capital reiterated a “buy” rating on shares of Trevena in a research note on Tuesday, May 3rd. Finally, Cowen and Company reiterated a “buy” rating on shares of Trevena in a research note on Tuesday, May 3rd. One research 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 company presently has an average rating of “Buy” and a consensus target price of $14.30.
The firm’s market capitalization is $392.38 million. The firm has a 50-day moving average of $6.82 and a 200-day moving average of $7.49.
Trevena (NASDAQ:TRVN) last released its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by $0.01. On average, equities analysts expect that Trevena Inc. will post ($1.55) EPS for the current fiscal year.
In other news, CEO Maxine Gowen acquired 22,084 shares of the company’s stock in a transaction that occurred on Friday, May 27th. The shares were bought at an average price of $7.12 per share, with a total value of $157,238.08. Following the completion of the purchase, the chief executive officer now directly owns 279,025 shares in the company, valued at $1,986,658. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
A number of hedge funds and institutional investors have recently made changes to their positions in the company. Jennison Associates LLC boosted 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 valued at $7,375,000 after buying an additional 2,341 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Trevena by 15.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 216,705 shares of the biopharmaceutical company’s stock valued at $2,275,000 after buying an additional 29,300 shares during the period. Finally, Marshall Wace LLP purchased a new position in shares of Trevena during the fourth quarter valued at about $1,929,000.
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.
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