Trevena (NASDAQ:TRVN) Coverage Initiated at StockNews.com

Equities researchers at StockNews.com initiated coverage on shares of Trevena (NASDAQ:TRVN – Get Rating) in a research report issued to clients and investors on Thursday. The firm set a “sell” rating on the biopharmaceutical company’s stock.

TRVN has been the subject of several other reports. HC Wainwright lowered their target price on shares of Trevena from $11.00 to $9.00 and set a “buy” rating for the company in a report on Friday, March 31st. JMP Securities restated a “market outperform” rating and issued a $2.00 price objective on shares of Trevena in a report on Friday, March 31st.

Trevena Stock Performance

Shares of TRVN opened at $1.21 on Thursday. The company has a debt-to-equity ratio of 1.33, a current ratio of 3.84 and a quick ratio of 3.72. Trevena has a one year low of $0.58 and a one year high of $12.22. The company has a 50-day simple moving average of $0.90 and a two-hundred day simple moving average of $1.59. The firm has a market capitalization of $13.27 million, a PE ratio of -0.20 and a beta of 2.05.

Trevena (NASDAQ:TRVN – Get Rating) last issued its quarterly earnings data on Monday, May 15th. The biopharmaceutical company reported ($0.81) EPS for the quarter, topping the consensus estimate of ($0.85) by $0.04. The company had revenue of $0.01 million during the quarter, compared to analysts’ expectations of $0.60 million. During the same quarter last year, the business earned ($2.50) earnings per share. On average, analysts anticipate that Trevena will post -2.9 EPS for the current fiscal year.

Hedge Funds Weigh In On Trevena

A number of hedge funds have recently added to or reduced their stakes in TRVN. Millennium Management LLC acquired a new stake in Trevena during the second quarter valued at $808,000. Renaissance Technologies LLC grew its position in shares of Trevena by 222.4% in the second quarter. Renaissance Technologies LLC now owns 994,200 shares of the biopharmaceutical company’s stock valued at $412,000 after purchasing an additional 685,800 shares during the period. Armistice Capital LLC acquired a new stake in shares of Trevena in the fourth quarter valued at about $919,000. Captrust Financial Advisors grew its position in shares of Trevena by 10,526.3% in the first quarter. Captrust Financial Advisors now owns 201,900 shares of the biopharmaceutical company’s stock valued at $111,000 after purchasing an additional 200,000 shares during the period. Finally, Virtu Financial LLC acquired a new stake in shares of Trevena in the second quarter valued at about $70,000.

Trevena Company Profile

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Trevena, Inc is a biopharmaceutical company, which focuses on developing and commercializing novel medicines for patients affected by central nervous system, or CNS, disorders. Its product candidates include Oliceridine injection, TRV250, TRV734, and TRV045. The company was founded by Maxine Gowen, Robert Joseph Lefkowitz, Scott DeWire, Howard A.