Needham & Company LLC lowered shares of Trevena (NASDAQ:TRVN) from a buy rating to a hold rating in a report released on Friday, Marketbeat Ratings reports.

A number of other equities analysts have also recently weighed in on TRVN. Jefferies Financial Group cut shares of Trevena from a buy rating to a hold rating and decreased their price objective for the company from $10.00 to $1.00 in a research report on Wednesday. HC Wainwright reissued a buy rating and issued a $7.00 price objective on shares of Trevena in a research report on Monday, August 13th. Finally, Zacks Investment Research raised shares of Trevena from a hold rating to a buy rating and set a $1.75 price objective for the company in a research report on Friday, August 17th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $5.66.

NASDAQ:TRVN traded down $0.07 on Friday, reaching $0.88. The stock had a trading volume of 12,717,879 shares, compared to its average volume of 1,749,324. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.40 and a quick ratio of 3.40. The stock has a market cap of $161.29 million, a P/E ratio of -0.73 and a beta of -0.38. Trevena has a 12-month low of $0.76 and a 12-month high of $3.58.

Trevena (NASDAQ:TRVN) last posted its quarterly earnings data on Thursday, August 2nd. The biopharmaceutical company reported ($0.13) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.13). The firm had revenue of $2.50 million during the quarter, compared to analysts’ expectations of $5.50 million. As a group, equities analysts expect that Trevena will post -0.61 earnings per share for the current year.

Hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its position in shares of Trevena by 635.7% during the first quarter. JPMorgan Chase & Co. now owns 89,228 shares of the biopharmaceutical company’s stock worth $146,000 after purchasing an additional 77,100 shares during the last quarter. LMR Partners LLP bought a new position in shares of Trevena during the second quarter worth about $207,000. Schwab Charles Investment Management Inc. lifted its position in shares of Trevena by 55.0% during the first quarter. Schwab Charles Investment Management Inc. now owns 144,362 shares of the biopharmaceutical company’s stock worth $237,000 after purchasing an additional 51,200 shares during the last quarter. Paloma Partners Management Co bought a new position in shares of Trevena during the second quarter worth about $411,000. Finally, GSA Capital Partners LLP lifted its position in shares of Trevena by 186.2% during the second quarter. GSA Capital Partners LLP now owns 351,847 shares of the biopharmaceutical company’s stock worth $507,000 after purchasing an additional 228,900 shares during the last quarter. 43.08% of the stock is currently owned by institutional investors and hedge funds.

About Trevena

Trevena, Inc, a biopharmaceutical company, develops therapies based on breakthrough science to benefit patients and healthcare providers confronting serious medical conditions. Its product candidates include OLINVO injection, a G protein biased ligand of the µ opioid receptor that has completed Phase III clinical trials for the management of moderate-to-severe acute pain where intravenous administration is preferred; TRV250, a G protein biased ligand targeting the d-receptor, which is in Phase I clinical study for the treatment of migraine; and TRV734, a small molecule G protein biased ligand of the µ opioid receptor that has completed Phase I clinical study for the treatment of moderate-to-severe acute and chronic pain, as well as TRV027 for the treatment of acute heart failure.

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Analyst Recommendations for Trevena (NASDAQ:TRVN)

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