Trevena Inc. (TRVN) Trading Down 2.5%
Trevena Inc. (NASDAQ:TRVN) fell 2.5% on Thursday . The stock traded as low as $6.85 and last traded at $6.90, with a volume of 278,128 shares changing hands. The stock had previously closed at $7.08.
Several brokerages have weighed in on TRVN. Cowen and Company reissued a “buy” rating on shares of Trevena in a research report on Thursday, June 2nd. Needham & Company LLC reissued a “buy” rating on shares of Trevena in a research report on Tuesday, May 3rd. Brean Capital reissued a “buy” rating on shares of Trevena in a research report on Tuesday, May 3rd. Wedbush reissued an “outperform” rating and set a $20.00 price target on shares of Trevena in a research report on Thursday, May 5th. Finally, FBR & Co reissued a “buy” rating and set a $16.00 price target on shares of Trevena in a research report on Wednesday, May 4th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the company. Trevena currently has a consensus rating of “Buy” and an average price target of $14.30.
The firm’s market capitalization is $361.59 million. The stock has a 50-day moving average of $6.83 and a 200 day moving average of $7.48.
Trevena (NASDAQ:TRVN) last released its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.36) by $0.01. Equities research analysts anticipate 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 that occurred on Friday, May 27th. The stock was bought at an average cost 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
A number of hedge funds have added to or reduced their stakes in TRVN. Marshall Wace LLP acquired a new stake in Trevena during the fourth quarter worth $1,929,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in 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 worth $2,275,000 after buying an additional 29,300 shares during the period. Finally, Jennison Associates LLC raised its stake in 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.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.