Trevena (TRVN) Shares Gap Down to $0.90

Shares of Trevena Inc (NASDAQ:TRVN) gapped down prior to trading on Thursday . The stock had previously closed at $0.79, but opened at $0.90. Trevena shares last traded at $0.86, with a volume of 43592 shares changing hands.

TRVN has been the topic of a number of research analyst reports. JMP Securities raised their target price on Trevena from $4.00 to $15.00 and gave the company an “outperform” rating in a report on Friday, October 12th. Jefferies Financial Group lowered Trevena from a “buy” rating to a “hold” rating and lowered their target price for the company from $10.00 to $1.00 in a report on Wednesday, October 10th. HC Wainwright lowered their target price on Trevena from $7.00 to $3.00 and set a “buy” rating on the stock in a report on Friday, October 12th. Needham & Company LLC lowered Trevena from a “buy” rating to a “hold” rating in a report on Friday, October 12th. Finally, Zacks Investment Research raised Trevena from a “hold” rating to a “buy” rating and set a $1.75 target price on the stock in a report on Friday, August 17th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $6.11.

The firm has a market cap of $161.29 million, a PE ratio of -0.73 and a beta of -0.38. The company has a quick ratio of 3.40, a current ratio of 3.40 and a debt-to-equity ratio of 0.28.

Trevena (NASDAQ:TRVN) last released its earnings results on Thursday, August 2nd. The biopharmaceutical company reported ($0.13) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.13). The business had revenue of $2.50 million during the quarter, compared to analyst estimates of $5.50 million. As a group, equities research analysts predict that Trevena Inc will post -0.61 earnings per share for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC grew its holdings in Trevena by 112.3% in the 2nd quarter. Millennium Management LLC now owns 1,005,820 shares of the biopharmaceutical company’s stock valued at $1,448,000 after buying an additional 532,129 shares during the last quarter. Paloma Partners Management Co bought a new stake in shares of Trevena in the 2nd quarter worth approximately $411,000. Renaissance Technologies LLC lifted its position in shares of Trevena by 264.1% in the 2nd quarter. Renaissance Technologies LLC now owns 521,700 shares of the biopharmaceutical company’s stock worth $751,000 after acquiring an additional 378,400 shares during the period. FMR LLC lifted its position in shares of Trevena by 24.0% in the 2nd quarter. FMR LLC now owns 5,288,100 shares of the biopharmaceutical company’s stock worth $7,615,000 after acquiring an additional 1,022,830 shares during the period. Finally, GSA Capital Partners LLP lifted its position in shares of Trevena by 186.2% in the 2nd quarter. GSA Capital Partners LLP now owns 351,847 shares of the biopharmaceutical company’s stock worth $507,000 after acquiring an additional 228,900 shares during the period. 43.08% of the stock is currently owned by hedge funds and other institutional investors.

Trevena Company Profile (NASDAQ:TRVN)

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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