Needham & Company LLC Cuts Trevena, Inc. (TRVN) Price Target to $7.00
Trevena, Inc. (NASDAQ:TRVN) had its price objective lowered by Needham & Company LLC from $9.00 to $7.00 in a report released on Wednesday morning. Needham & Company LLC currently has a buy rating on the biopharmaceutical company’s stock.
A number of other analysts have also commented on the company. Zacks Investment Research lowered Trevena from a buy rating to a hold rating in a research note on Thursday, November 2nd. Barclays PLC lowered Trevena from an overweight rating to an equal weight rating and decreased their price target for the stock from $15.00 to $2.50 in a research note on Monday, October 16th. Oppenheimer Holdings, Inc. set a $5.00 price target on Trevena and gave the stock a buy rating in a research note on Thursday, October 12th. HC Wainwright decreased their price target on Trevena from $8.00 to $7.00 and set a buy rating on the stock in a research note on Thursday, October 12th. Finally, Cowen and Company reissued a buy rating and issued a $10.00 price target on shares of Trevena in a research note on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company’s stock. Trevena currently has an average rating of Buy and a consensus price target of $8.75.
Trevena (NASDAQ:TRVN) traded up $0.08 on Wednesday, hitting $1.78. The company had a trading volume of 1,279,300 shares, compared to its average volume of 771,489. The company has a current ratio of 4.92, a quick ratio of 7.15 and a debt-to-equity ratio of 0.38. Trevena has a fifty-two week low of $1.35 and a fifty-two week high of $8.00.
Trevena (NASDAQ:TRVN) last posted its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.27) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.06. During the same period last year, the business posted ($0.57) EPS. equities analysts predict that Trevena will post -1.28 earnings per share for the current fiscal year.
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Several large investors have recently made changes to their positions in the stock. Bourgeon Capital Management LLC raised its holdings in shares of Trevena by 63.1% during the 3rd quarter. Bourgeon Capital Management LLC now owns 86,500 shares of the biopharmaceutical company’s stock valued at $221,000 after buying an additional 33,469 shares during the period. Northpointe Capital LLC raised its holdings in shares of Trevena by 5.0% during the 3rd quarter. Northpointe Capital LLC now owns 1,283,025 shares of the biopharmaceutical company’s stock valued at $3,272,000 after buying an additional 61,546 shares during the period. California State Teachers Retirement System raised its holdings in shares of Trevena by 0.5% during the 2nd quarter. California State Teachers Retirement System now owns 97,107 shares of the biopharmaceutical company’s stock valued at $223,000 after buying an additional 500 shares during the period. State Street Corp raised its holdings in shares of Trevena by 8.3% during the 2nd quarter. State Street Corp now owns 768,249 shares of the biopharmaceutical company’s stock valued at $1,767,000 after buying an additional 58,895 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Trevena by 528.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 711,615 shares of the biopharmaceutical company’s stock valued at $1,637,000 after buying an additional 598,383 shares during the period. Institutional investors and hedge funds own 60.27% of the company’s stock.
Trevena Inc is a biopharmaceutical company, which is engaged in developing various therapies. The Company is developing OLINVO, a u-receptor G protein pathway selective modulator (u-GPS) for the management of moderate-to-severe acute pain where intravenous (IV) administration is preferred. It is focused on commercializing it in the United States for use in acute care settings, such as hospitals and ambulatory surgery centers.
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