Trevena (NASDAQ:TRVN) Raised to Hold at Zacks Investment Research

Trevena (NASDAQ:TRVNGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report 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. “

A number of other brokerages have also recently issued reports on TRVN. StockNews.com initiated coverage on Trevena in a research report on Tuesday. They issued a “sell” rating for the company. HC Wainwright decreased their target price on Trevena from $5.00 to $3.50 in a research report on Thursday, May 12th.

Trevena stock opened at $0.31 on Wednesday. The company has a fifty day simple moving average of $0.35 and a 200-day simple moving average of $0.50. Trevena has a 12-month low of $0.18 and a 12-month high of $2.20. The stock has a market cap of $51.61 million, a P/E ratio of -0.89 and a beta of 2.44.

Trevena (NASDAQ:TRVNGet Rating) last released its quarterly earnings data on Wednesday, May 11th. The biopharmaceutical company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.01). Trevena had a negative net margin of 7,771.74% and a negative return on equity of 82.39%. During the same quarter last year, the company posted ($0.06) earnings per share. On average, sell-side analysts expect that Trevena will post -0.37 earnings per share for the current year.

A number of institutional investors have recently bought and sold shares of TRVN. GSA Capital Partners LLP acquired a new stake in Trevena during the 1st quarter worth approximately $471,000. Bank of America Corp DE lifted its position in Trevena by 1,004.6% during the 4th quarter. Bank of America Corp DE now owns 427,848 shares of the biopharmaceutical company’s stock worth $249,000 after acquiring an additional 389,113 shares during the period. Geode Capital Management LLC lifted its position in Trevena by 11.3% during the 3rd quarter. Geode Capital Management LLC now owns 3,028,595 shares of the biopharmaceutical company’s stock worth $3,725,000 after acquiring an additional 306,851 shares during the period. Goldman Sachs Group Inc. lifted its position in Trevena by 168.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 458,429 shares of the biopharmaceutical company’s stock worth $267,000 after acquiring an additional 287,378 shares during the period. Finally, D. E. Shaw & Co. Inc. acquired a new stake in shares of Trevena in the 4th quarter valued at approximately $142,000. 21.20% of the stock is owned by institutional investors.

About Trevena (Get Rating)

Trevena, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel medicines for patients affected by central nervous system disorders. Its lead product candidates include OLINVYK (Oliceridine) injection, a G protein biased mu-opioid receptor (MOR) ligand for the management of moderate-to-severe acute pain; TRV027 for the treatment of acute lung injury contributing to acute respiratory distress syndrome and abnormal blood clotting in patients with COVID-19; TRV250, a G protein biased delta-opioid receptor agonist for the treatment of acute migraine; TRV734, a small molecule G protein biased ligand of the MOR for the treatment of moderate-to-severe acute and chronic pain; and TRV045, a novel S1P modulator for managing chronic pain.

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