Trevena (NASDAQ:TRVN) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Trevena (NASDAQ:TRVN) from a buy rating to a hold rating in a research note released on Friday, Zacks.com reports.

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. “

Other equities analysts also recently issued research reports about the company. Guggenheim started coverage on Trevena in a research report on Monday, September 14th. They issued a buy rating and a $5.00 price objective for the company. ValuEngine cut Trevena from a buy rating to a hold rating in a research note on Tuesday, June 23rd. HC Wainwright lifted their target price on Trevena from $4.00 to $5.00 and gave the company a buy rating in a research note on Tuesday, August 11th. BidaskClub raised Trevena from a hold rating to a buy rating in a research note on Thursday. Finally, Cantor Fitzgerald assumed coverage on Trevena in a research note on Thursday, August 27th. They issued an overweight rating and a $5.00 target price for the company. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Trevena presently has a consensus rating of Buy and an average price target of $4.19.

NASDAQ TRVN opened at $2.60 on Friday. The stock has a market cap of $342.24 million, a PE ratio of -9.29 and a beta of 2.83. Trevena has a fifty-two week low of $0.46 and a fifty-two week high of $3.68. The business has a 50 day moving average price of $2.05 and a two-hundred day moving average price of $1.35. The company has a quick ratio of 16.25, a current ratio of 16.25 and a debt-to-equity ratio of 0.13.

Trevena (NASDAQ:TRVN) last released its quarterly earnings results on Monday, August 10th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.06). Sell-side analysts anticipate that Trevena will post -0.22 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TRVN. UBS Group AG raised its position in Trevena by 186.3% during the 2nd quarter. UBS Group AG now owns 18,795 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 12,231 shares during the last quarter. Wedbush Securities Inc. bought a new position in Trevena during the 2nd quarter worth $28,000. IFP Advisors Inc raised its position in Trevena by 116.7% during the 2nd quarter. IFP Advisors Inc now owns 21,674 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 11,674 shares during the last quarter. Advisor Group Holdings Inc. raised its position in Trevena by 50.1% during the 2nd 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. Finally, Summit X LLC raised its position in Trevena by 23.1% during the 1st quarter. Summit X LLC now owns 66,700 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 12,500 shares during the last quarter. Institutional investors and hedge funds own 14.93% of the company’s stock.

About Trevena

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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