Trevena Inc (NASDAQ:TRVN) has been given a consensus rating of “Buy” by the seven brokerages that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $5.54.
Several analysts have weighed in on the stock. ValuEngine upgraded shares of Trevena from a “sell” rating to a “hold” rating in a research note on Saturday, June 2nd. Zacks Investment Research upgraded shares of Trevena from a “hold” rating to a “buy” rating and set a $2.25 price objective for the company in a research note on Wednesday, May 9th. Finally, HC Wainwright reiterated a “buy” rating and issued a $7.00 price objective on shares of Trevena in a research note on Monday, August 13th.
A number of hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC increased its holdings in Trevena by 112.3% in the 2nd quarter. Millennium Management LLC now owns 1,005,820 shares of the biopharmaceutical company’s stock valued at $1,448,000 after buying an additional 532,129 shares during the period. Paloma Partners Management Co bought a new position in Trevena in the 2nd quarter valued at about $411,000. Renaissance Technologies LLC increased its holdings in Trevena by 264.1% in the 2nd quarter. Renaissance Technologies LLC now owns 521,700 shares of the biopharmaceutical company’s stock valued at $751,000 after buying an additional 378,400 shares during the period. FMR LLC increased its holdings in Trevena by 24.0% in the 2nd quarter. FMR LLC now owns 5,288,100 shares of the biopharmaceutical company’s stock valued at $7,615,000 after buying an additional 1,022,830 shares during the period. Finally, GSA Capital Partners LLP increased its holdings in Trevena by 186.2% in the 2nd quarter. GSA Capital Partners LLP now owns 351,847 shares of the biopharmaceutical company’s stock valued at $507,000 after buying an additional 228,900 shares during the period. 43.08% of the stock is currently owned by hedge funds and other institutional investors.
Trevena stock traded down $0.06 during midday trading on Friday, hitting $1.71. The company’s stock had a trading volume of 1,107,904 shares, compared to its average volume of 999,296. Trevena has a 1-year low of $1.34 and a 1-year high of $2.88. The company has a quick ratio of 3.40, a current ratio of 3.40 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $136.95 million, a price-to-earnings ratio of -1.41 and a beta of -0.35.
Trevena (NASDAQ:TRVN) last issued its quarterly earnings data on Thursday, August 2nd. The biopharmaceutical company reported ($0.13) earnings per share for the quarter, hitting the consensus estimate of ($0.13). The business had revenue of $2.50 million during the quarter, compared to analyst estimates of $5.50 million. sell-side analysts anticipate that Trevena will post -0.66 earnings per share for the current fiscal year.
Trevena Company Profile
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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