Trevena (NASDAQ:TRVN) had its target price increased by HC Wainwright to $7.00 in a research report report published on Thursday morning, The Fly reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.
Several other brokerages also recently commented on TRVN. Oppenheimer reaffirmed a buy rating and issued a $5.00 target price on shares of Trevena in a research note on Monday, November 13th. Needham & Company LLC lowered their price objective on shares of Trevena from $9.00 to $7.00 and set a buy rating for the company in a research report on Wednesday, November 8th. Finally, Zacks Investment Research downgraded shares of Trevena from a buy rating to a hold rating and set a $2.00 price objective for the company. in a research report on Saturday, January 20th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company’s stock. Trevena presently has a consensus rating of Buy and a consensus target price of $7.17.
Shares of Trevena (TRVN) traded down $0.08 during trading hours on Thursday, reaching $1.98. 1,430,000 shares of the company’s stock traded hands, compared to its average volume of 875,384. Trevena has a 1 year low of $1.34 and a 1 year high of $3.98. The company has a quick ratio of 4.92, a current ratio of 3.71 and a debt-to-equity ratio of 0.45.
Several hedge funds have recently modified their holdings of TRVN. Nationwide Fund Advisors increased its position in shares of Trevena by 92.1% during the second quarter. Nationwide Fund Advisors now owns 49,132 shares of the biopharmaceutical company’s stock worth $113,000 after acquiring an additional 23,557 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of Trevena by 51.9% during the second quarter. Alliancebernstein L.P. now owns 55,300 shares of the biopharmaceutical company’s stock worth $127,000 after acquiring an additional 18,900 shares in the last quarter. Millennium Management LLC bought a new stake in shares of Trevena during the fourth quarter worth $130,000. American Century Companies Inc. bought a new stake in shares of Trevena during the fourth quarter worth $135,000. Finally, Bourgeon Capital Management LLC increased its position in shares of Trevena by 59.3% during the fourth quarter. Bourgeon Capital Management LLC now owns 137,800 shares of the biopharmaceutical company’s stock worth $220,000 after acquiring an additional 51,300 shares in the last quarter. 52.50% of the stock is owned by institutional investors.
Trevena Inc is a biopharmaceutical company, which is engaged in developing various therapies. The Company is developing OLINVO, a u-receptor G protein pathway selective modulator (u-GPS) for the management of moderate-to-severe acute pain where intravenous (IV) administration is preferred. It is focused on commercializing it in the United States for use in acute care settings, such as hospitals and ambulatory surgery centers.
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