Zacks Investment Research Upgrades Trevena (NASDAQ:TRVN) to Buy

Zacks Investment Research upgraded shares of Trevena (NASDAQ:TRVN) from a hold rating to a buy rating in a report issued on Thursday morning, Zacks.com reports. They currently have $2.25 price objective on the biopharmaceutical company’s stock.

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. “

Separately, Oppenheimer initiated coverage on Trevena in a report on Monday, March 15th. They set a market perform rating on the stock. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of Buy and an average target price of $4.31.

NASDAQ TRVN opened at $2.04 on Thursday. Trevena has a 52 week low of $1.24 and a 52 week high of $3.68. The business’s fifty day moving average is $1.75. The stock has a market cap of $333.73 million, a price-to-earnings ratio of -8.50 and a beta of 2.46.

Trevena (NASDAQ:TRVN) last posted its quarterly earnings results on Thursday, May 6th. The biopharmaceutical company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.02. The company had revenue of $0.21 million for the quarter, compared to analysts’ expectations of $0.55 million. As a group, equities analysts predict that Trevena will post -0.29 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ameriprise Financial Inc. grew its position in Trevena by 12.8% in the 1st quarter. Ameriprise Financial Inc. now owns 62,400 shares of the biopharmaceutical company’s stock valued at $112,000 after acquiring an additional 7,100 shares in the last quarter. Bank of Montreal Can grew its position in Trevena by 104.5% in the 1st quarter. Bank of Montreal Can now owns 20,445 shares of the biopharmaceutical company’s stock valued at $37,000 after acquiring an additional 10,445 shares in the last quarter. Personal Capital Advisors Corp acquired a new position in Trevena in the 4th quarter valued at about $25,000. UBS Group AG grew its position in Trevena by 86.5% in the 1st quarter. UBS Group AG now owns 27,972 shares of the biopharmaceutical company’s stock valued at $50,000 after acquiring an additional 12,972 shares in the last quarter. Finally, LMR Partners LLP acquired a new position in Trevena in the 4th quarter valued at about $29,000. 16.88% of the stock is owned by institutional investors.

About Trevena

Trevena, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel medicines for patients affected by central nervous system disorders. Its lead product candidates include OLINVYK (Oliceridine) injection, a G protein biased mu-opioid receptor (MOR) ligand for the management of moderate-to-severe acute pain; TRV027 for the treatment of acute lung injury contributing to acute respiratory distress syndrome and abnormal blood clotting in patients with COVID-19; TRV250, a G protein biased delta-opioid receptor agonist that has completed 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; and TRV045, a novel S1P modulator for managing chronic pain.

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