Retrophin (RTRX) Cut to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Retrophin (NASDAQ:RTRX) from a hold rating to a sell rating in a research note released on Tuesday, Zacks.com reports.

According to Zacks, “Retrophin is a pharmaceutical company focused on the development, acquisition and commercialization of drugs for the treatment of serious, catastrophic or rare diseases for which there are currently no viable options for patients. The Company’s approved products include Chenodal®, Cholbam, and Thiola®, and its pipeline includes compounds for several catastrophic diseases, including focal segmental glomerulosclerosis, pantothenate kinase-associated neurodegeneration, infantile spasms, nephrotic syndrome and others. Retrophin, Inc. is based in San Diego. “

RTRX has been the subject of several other research reports. BidaskClub raised Retrophin from a sell rating to a hold rating in a research report on Thursday, March 14th. Svb Leerink reissued an outperform rating on shares of Retrophin in a research report on Tuesday, February 26th. ValuEngine downgraded Retrophin from a strong-buy rating to a buy rating in a research report on Thursday, January 17th. William Blair reissued an outperform rating on shares of Retrophin in a research report on Wednesday, April 17th. Finally, Barclays began coverage on Retrophin in a research report on Monday, April 22nd. They set an overweight rating and a $36.00 price target for the company. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. Retrophin has an average rating of Hold and a consensus price target of $45.67.

Retrophin stock opened at $19.01 on Tuesday. The company has a quick ratio of 4.52, a current ratio of 4.57 and a debt-to-equity ratio of 0.69. The firm has a market cap of $787.72 million, a price-to-earnings ratio of -7.48 and a beta of 0.91. Retrophin has a fifty-two week low of $17.53 and a fifty-two week high of $33.00.

Retrophin (NASDAQ:RTRX) last released its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.99) earnings per share for the quarter, missing the consensus estimate of ($0.58) by ($0.41). The company had revenue of $39.57 million for the quarter, compared to analysts’ expectations of $41.40 million. Retrophin had a negative return on equity of 41.38% and a negative net margin of 75.75%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.14) EPS. On average, research analysts anticipate that Retrophin will post -3.02 EPS for the current year.

In other news, CFO Laura Clague sold 2,500 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $18.25, for a total transaction of $45,625.00. Following the sale, the chief financial officer now owns 14,750 shares in the company, valued at $269,187.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steve Aselage sold 3,676 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $17.81, for a total value of $65,469.56. Following the sale, the director now owns 257,804 shares in the company, valued at approximately $4,591,489.24. The disclosure for this sale can be found here. Insiders have sold 14,569 shares of company stock worth $275,103 in the last 90 days. Insiders own 4.32% of the company’s stock.

Several hedge funds have recently bought and sold shares of RTRX. Advisor Group Inc. boosted its holdings in Retrophin by 1,824.0% in the first quarter. Advisor Group Inc. now owns 1,443 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 1,368 shares during the last quarter. NumerixS Investment Technologies Inc acquired a new position in Retrophin in the first quarter valued at $78,000. SG Americas Securities LLC acquired a new position in Retrophin in the first quarter valued at $143,000. Campbell & CO Investment Adviser LLC acquired a new position in Retrophin in the first quarter valued at $217,000. Finally, Metropolitan Life Insurance Co. NY boosted its holdings in Retrophin by 318.5% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 13,785 shares of the biopharmaceutical company’s stock valued at $312,000 after acquiring an additional 10,491 shares during the last quarter.

About Retrophin

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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