BMO Capital Markets Cuts Retrophin (NASDAQ:RTRX) Price Target to $31.00

Retrophin (NASDAQ:RTRX) had its price target dropped by investment analysts at BMO Capital Markets from $34.00 to $31.00 in a research report issued on Monday, The Fly reports. BMO Capital Markets’ price target suggests a potential upside of 55.39% from the company’s current price.

Other analysts also recently issued reports about the company. Canaccord Genuity restated a “buy” rating and issued a $26.00 price objective on shares of Retrophin in a report on Tuesday, May 19th. BidaskClub upgraded Retrophin from a “hold” rating to a “buy” rating in a report on Saturday, June 27th. BTIG Research began coverage on Retrophin in a research note on Tuesday, June 16th. They issued a “buy” rating and a $25.00 target price on the stock. Zacks Investment Research lowered Retrophin from a “buy” rating to a “hold” rating in a research note on Tuesday, June 30th. Finally, ValuEngine lowered Retrophin from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 17th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $26.13.

RTRX traded down $0.09 during midday trading on Monday, hitting $19.95. 6,178 shares of the company traded hands, compared to its average volume of 536,536. The company has a quick ratio of 5.88, a current ratio of 5.97 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $864.84 million, a PE ratio of -8.16 and a beta of 0.86. The company’s 50-day moving average is $17.27 and its 200 day moving average is $15.68. Retrophin has a 52 week low of $8.98 and a 52 week high of $21.91.

Retrophin (NASDAQ:RTRX) last issued its quarterly earnings data on Monday, May 11th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.68) by $0.70. Retrophin had a negative net margin of 57.01% and a negative return on equity of 43.15%. The firm had revenue of $47.77 million for the quarter, compared to analysts’ expectations of $43.14 million. On average, sell-side analysts predict that Retrophin will post -1.56 earnings per share for the current fiscal year.

In other news, Director Steve Aselage sold 3,062 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $15.09, for a total transaction of $46,205.58. Following the completion of the transaction, the director now directly owns 252,857 shares of the company’s stock, valued at approximately $3,815,612.13. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders sold 16,364 shares of company stock valued at $298,850 over the last three months. 4.63% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RTRX. UBS Asset Management Americas Inc. grew its holdings in Retrophin by 2.9% in the 4th quarter. UBS Asset Management Americas Inc. now owns 31,203 shares of the biopharmaceutical company’s stock worth $443,000 after buying an additional 884 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Retrophin by 103.1% in the 1st quarter. Nisa Investment Advisors LLC now owns 1,970 shares of the biopharmaceutical company’s stock valued at $29,000 after acquiring an additional 1,000 shares in the last quarter. Swiss National Bank grew its stake in Retrophin by 1.4% in the 1st quarter. Swiss National Bank now owns 75,000 shares of the biopharmaceutical company’s stock valued at $1,094,000 after buying an additional 1,000 shares during the last quarter. Trexquant Investment LP boosted its position in shares of Retrophin by 5.1% during the 4th quarter. Trexquant Investment LP now owns 24,533 shares of the biopharmaceutical company’s stock worth $348,000 after acquiring an additional 1,200 shares in the last quarter. Finally, Oak Ridge Investments LLC increased its position in shares of Retrophin by 0.9% during the first quarter. Oak Ridge Investments LLC now owns 182,117 shares of the biopharmaceutical company’s stock worth $2,657,000 after buying an additional 1,648 shares during the period.

Retrophin Company Profile

Retrophin, Inc, a biopharmaceutical company, focuses on the identification, development, acquisition, and commercialization of therapies for the treatment of rare diseases. Its marketed products include Chenodal, a synthetic oral form of chenodeoxycholic acid for the treatment of radiolucent stones in well-opacifying gallbladders; Cholbam, a cholic acid capsule to treat pediatric and adult patients with bile acid synthesis disorders due to single enzyme defects, as well as for adjunctive treatment of patients with peroxisomal disorders; and Thiola, a tiopronin tablet for the treatment of cystinuria.

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The Fly

Analyst Recommendations for Retrophin (NASDAQ:RTRX)

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