Trevena (TRVN) Downgraded to Hold at Needham & Company LLC

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Needham & Company LLC cut shares of Trevena (NASDAQ:TRVN) from a buy rating to a hold rating in a research report released on Friday morning, Marketbeat.com reports.

Several other brokerages also recently weighed in on TRVN. HC Wainwright reiterated a buy rating and issued a $7.00 price target on shares of Trevena in a report on Monday, August 13th. Zacks Investment Research upgraded Trevena from a hold rating to a buy rating and set a $1.75 price target for the company in a report on Friday, August 17th. Finally, Jefferies Financial Group downgraded Trevena from a buy rating to a hold rating and cut their price target for the company from $10.00 to $1.00 in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $5.66.

Shares of Trevena stock traded down $0.07 during trading on Friday, hitting $0.88. 12,717,879 shares of the company were exchanged, compared to its average volume of 1,749,324. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.40 and a quick ratio of 3.40. Trevena has a fifty-two week low of $0.76 and a fifty-two week high of $3.58. The company has a market capitalization of $161.29 million, a P/E ratio of -0.73 and a beta of -0.38.

Trevena (NASDAQ:TRVN) last issued its quarterly earnings data on Thursday, August 2nd. The biopharmaceutical company reported ($0.13) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.13). The company had revenue of $2.50 million for the quarter, compared to analyst estimates of $5.50 million. As a group, research analysts expect that Trevena will post -0.61 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in TRVN. JPMorgan Chase & Co. grew its position in Trevena by 635.7% during the first quarter. JPMorgan Chase & Co. now owns 89,228 shares of the biopharmaceutical company’s stock valued at $146,000 after acquiring an additional 77,100 shares during the period. LMR Partners LLP purchased a new stake in Trevena during the second quarter valued at about $207,000. Schwab Charles Investment Management Inc. grew its position in Trevena by 55.0% during the first quarter. Schwab Charles Investment Management Inc. now owns 144,362 shares of the biopharmaceutical company’s stock valued at $237,000 after acquiring an additional 51,200 shares during the period. Paloma Partners Management Co purchased a new stake in Trevena during the second quarter valued at about $411,000. Finally, GSA Capital Partners LLP grew its position in Trevena by 186.2% during the second quarter. GSA Capital Partners LLP now owns 351,847 shares of the biopharmaceutical company’s stock valued at $507,000 after acquiring an additional 228,900 shares during the period. Institutional investors and hedge funds own 43.08% of the company’s stock.

About Trevena

Trevena, Inc, a biopharmaceutical company, develops therapies based on breakthrough science to benefit patients and healthcare providers confronting serious medical conditions. Its product candidates include OLINVO injection, a G protein biased ligand of the µ opioid receptor that has completed Phase III clinical trials for the management of moderate-to-severe acute pain where intravenous administration is preferred; TRV250, a G protein biased ligand targeting the d-receptor, which is in Phase I clinical study for the treatment of migraine; and TRV734, a small molecule G protein biased ligand of the µ opioid receptor that has completed Phase I clinical study for the treatment of moderate-to-severe acute and chronic pain, as well as TRV027 for the treatment of acute heart failure.

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Analyst Recommendations for Trevena (NASDAQ:TRVN)

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