Trevena (TRVN) Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Trevena (NASDAQ:TRVN) from a buy rating to a hold rating in a research note released on Wednesday, Zacks.com reports.

According to Zacks, “Trevena, Inc. is a biopharmaceutical company. It focuses on discovering and developing therapeutics for G protein coupled receptors. The Company’s product pipeline includes TRV027, TRV130, TRV734 and Delta opioid biased ligand which are in different clinical phases. Trevena, Inc. is based in King of Prussia, Pennsylvania. “

Several other research firms have also issued reports on TRVN. HC Wainwright restated a hold rating and set a $1.25 price target on shares of Trevena in a research report on Thursday, March 14th. ValuEngine lowered Trevena from a hold rating to a sell rating in a research report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of Hold and an average price target of $4.69.

TRVN opened at $1.35 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 3.55 and a current ratio of 3.58. Trevena has a 1 year low of $0.38 and a 1 year high of $3.58.

Trevena (NASDAQ:TRVN) last posted its quarterly earnings results on Friday, May 10th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.02. On average, sell-side analysts expect that Trevena will post -0.37 earnings per share for the current year.

Several hedge funds have recently modified their holdings of TRVN. Two Sigma Advisers LP grew its position in shares of Trevena by 35.3% in the 4th quarter. Two Sigma Advisers LP now owns 62,900 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 16,400 shares during the last quarter. Advisor Group Inc. grew its position in shares of Trevena by 142.9% in the 1st quarter. Advisor Group Inc. now owns 17,000 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 10,000 shares during the last quarter. Alpine Global Management LLC bought a new stake in shares of Trevena in the 1st quarter worth approximately $31,000. ExodusPoint Capital Management LP bought a new stake in shares of Trevena in the 1st quarter worth approximately $46,000. Finally, Charles Schwab Investment Management Inc. bought a new stake in shares of Trevena in the 1st quarter worth approximately $50,000. Hedge funds and other institutional investors own 21.54% of the company’s stock.

About Trevena

Trevena, Inc, a biopharmaceutical company, focuses on the development and commercialization of treatment options that target and treat diseases affecting the central nervous system. Its product candidates include Oliceridine injection, a G protein biased mu-opioid receptor (MOR) ligand that has completed Phase III clinical trials for the management of moderate-to-severe acute pain where intravenous administration is warranted; TRV250, a G protein biased delta- opioid receptor ligand, which is in Phase I clinical study for the treatment of acute migraine; TRV734, a small molecule G protein biased ligand of the MOR that has completed Phase I clinical study for the treatment of moderate-to-severe acute and chronic pain; TRV027 for the treatment of acute heart failure; and TRV045, a novel S1P modulator for managing chronic pain.

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