Trevena Inc (TRVN) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Trevena Inc (NASDAQ:TRVN) from a hold rating to a sell rating in a research report released on Tuesday.

According to Zacks, “Trevena, Inc. is a biopharmaceutical company. It focuses on discovering and developing therapeutics for G protein coupled receptors. The Company’s product pipeline includes TRV027, TRV130, TRV734 and Delta opioid biased ligand which are in different clinical phases. Trevena, Inc. is based in King of Prussia, Pennsylvania. “

Several other analysts have also weighed in on the company. FBR & Co set a $8.00 target price on Trevena and gave the company a buy rating in a report on Saturday, March 11th. Needham & Company LLC reissued a buy rating and issued a $11.00 target price on shares of Trevena in a report on Saturday, March 11th. Roth Capital set a $9.00 target price on Trevena and gave the company a buy rating in a report on Wednesday, February 22nd. Oppenheimer Holdings Inc. reissued an outperform rating and issued a $10.00 target price (down previously from $13.00) on shares of Trevena in a report on Thursday, February 23rd. Finally, HC Wainwright lowered their target price on Trevena from $11.00 to $8.00 and set a buy rating on the stock in a report on Thursday, February 23rd. Two equities research analysts have rated the stock with a sell rating and eleven have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $11.73.

Shares of Trevena (NASDAQ:TRVN) opened at 3.68 on Tuesday. Trevena has a one year low of $3.50 and a one year high of $9.49. The stock’s market capitalization is $210.23 million. The company has a 50-day moving average of $5.50 and a 200 day moving average of $5.95.

Trevena (NASDAQ:TRVN) last posted its earnings results on Wednesday, March 8th. The biopharmaceutical company reported ($0.67) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.62) by $0.05. Trevena had a negative net margin of 841.00% and a negative return on equity of 66.50%. During the same period last year, the business posted ($0.30) earnings per share. Equities research analysts forecast that Trevena will post ($1.67) earnings per share for the current fiscal year.

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Hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN increased its position in Trevena by 51.9% in the third quarter. Wells Fargo & Company MN now owns 15,393 shares of the biopharmaceutical company’s stock worth $104,000 after buying an additional 5,261 shares during the period. National Planning Corp increased its position in Trevena by 7.8% in the fourth quarter. National Planning Corp now owns 21,512 shares of the biopharmaceutical company’s stock worth $162,000 after buying an additional 1,560 shares during the period. Ellington Management Group LLC purchased a new position in Trevena during the fourth quarter worth approximately $138,000. Piermont Capital Management Inc. purchased a new position in Trevena during the third quarter worth approximately $529,000. Finally, Russell Investments Group Ltd. purchased a new position in Trevena during the fourth quarter worth approximately $483,000. 69.28% of the stock is currently owned by hedge funds and other institutional investors.

Trevena Company Profile

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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