Guggenheim Begins Coverage on Trevena (NASDAQ:TRVN)
Guggenheim assumed coverage on shares of Trevena (NASDAQ:TRVN) in a report released on Monday morning, Benzinga reports. The brokerage issued a buy rating and a $5.00 price objective on the biopharmaceutical company’s stock.
A number of other analysts have also recently weighed in on TRVN. BidaskClub cut Trevena from a buy rating to a hold rating in a research note on Thursday, August 20th. Zacks Investment Research downgraded shares of Trevena from a buy rating to a hold rating in a research report on Wednesday, August 26th. HC Wainwright boosted their price target on shares of Trevena from $4.00 to $5.00 and gave the company a buy rating in a research report on Tuesday, August 11th. Cantor Fitzgerald assumed coverage on Trevena in a report on Thursday, August 27th. They set an overweight rating and a $5.00 price objective on the stock. Finally, ValuEngine downgraded Trevena from a buy rating to a hold rating in a report on Tuesday, June 23rd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Trevena presently has an average rating of Buy and a consensus price target of $4.19.
Shares of NASDAQ TRVN opened at $2.22 on Monday. The stock’s 50-day moving average is $2.05 and its two-hundred day moving average is $1.33. The company has a debt-to-equity ratio of 0.13, a current ratio of 16.25 and a quick ratio of 16.25. The company has a market cap of $292.22 million, a price-to-earnings ratio of -7.93 and a beta of 2.83. Trevena has a 1-year low of $0.46 and a 1-year high of $3.68.
Several hedge funds have recently made changes to their positions in the business. Advisor Group Holdings Inc. raised its stake in shares of Trevena by 50.1% during the second quarter. Advisor Group Holdings Inc. now owns 22,516 shares of the biopharmaceutical company’s stock worth $34,000 after purchasing an additional 7,516 shares during the last quarter. Summit X LLC lifted its stake in shares of Trevena by 16.5% in the 2nd quarter. Summit X LLC now owns 77,700 shares of the biopharmaceutical company’s stock worth $117,000 after acquiring an additional 11,000 shares during the period. IFP Advisors Inc boosted its holdings in shares of Trevena by 116.7% in the second quarter. IFP Advisors Inc now owns 21,674 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 11,674 shares in the last quarter. UBS Group AG increased its stake in shares of Trevena by 186.3% during the second quarter. UBS Group AG now owns 18,795 shares of the biopharmaceutical company’s stock worth $28,000 after acquiring an additional 12,231 shares during the period. Finally, Wedbush Securities Inc. purchased a new position in Trevena during the second quarter worth about $28,000. Institutional investors own 14.93% of the company’s stock.
Trevena Company Profile
Trevena, Inc, a biopharmaceutical company, focuses on the development and commercialization of treatment options that target and treat diseases affecting the central nervous system. Its product candidates include Oliceridine injection, a G protein biased mu-opioid receptor (MOR) ligand that has completed Phase III clinical trials for the management of moderate-to-severe acute pain where intravenous administration is warranted; TRV250, a G protein biased delta- opioid receptor ligand, which is in Phase I clinical study for the treatment of acute migraine; TRV734, a small molecule G protein biased ligand of the MOR that has completed Phase I clinical study for the treatment of moderate-to-severe acute and chronic pain; TRV027 for the treatment of acute heart failure; and TRV045, a novel S1P modulator for managing chronic pain.
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