StockNews.com Initiates Coverage on Trevena (NASDAQ:TRVN)

StockNews.com assumed coverage on shares of Trevena (NASDAQ:TRVN) in a report released on Monday. The firm issued a sell rating on the biopharmaceutical company’s stock.

Separately, HC Wainwright reduced their price target on Trevena from $225.00 to $125.00 and set a buy rating on the stock in a research report on Thursday, May 16th.

Trevena Stock Down 15.4 %

Shares of TRVN stock opened at $3.80 on Monday. The firm has a market capitalization of $81.02 million, a P/E ratio of -1.42 and a beta of 1.05. Trevena has a twelve month low of $3.63 and a twelve month high of $28.00. The stock’s fifty day simple moving average is $6.36 and its 200 day simple moving average is $10.01.

Trevena (NASDAQ:TRVN) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($9.25) by $9.02. The firm had revenue of $0.33 million for the quarter. As a group, equities research analysts expect that Trevena will post -1.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Trevena

A hedge fund recently bought a new stake in Trevena stock. Armistice Capital LLC purchased a new stake in Trevena, Inc. (NASDAQ:TRVN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 797,714 shares of the biopharmaceutical company’s stock, valued at approximately $576,000. Armistice Capital LLC owned about 4.61% of Trevena at the end of the most recent quarter. 13.56% of the stock is currently owned by hedge funds and other 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; TRV250, a G protein biased delta-opioid receptor agonist for the treatment of acute migraine; TRV734, a small molecule G protein biased ligand of the MOR for the treatment of moderate-to-severe acute and chronic pain; and TRV045, a novel S1P modulator for managing chronic pain.