StockNews.com Initiates Coverage on Trevena (NASDAQ:TRVN)

StockNews.com started coverage on shares of Trevena (NASDAQ:TRVN) in a research report released on Thursday morning. The brokerage issued a sell rating on the biopharmaceutical company’s stock.

Separately, HC Wainwright reduced their price target on shares of Trevena from $225.00 to $125.00 and set a buy rating on the stock in a research report on Thursday, May 16th.

Trevena Trading Down 3.4 %

Shares of NASDAQ:TRVN opened at $3.99 on Thursday. The company has a market cap of $73.18 million, a price-to-earnings ratio of -1.49 and a beta of 1.03. The company has a 50-day moving average price of $4.91 and a 200-day moving average price of $8.68. Trevena has a 12 month low of $3.35 and a 12 month high of $25.75.

Trevena (NASDAQ:TRVN) last announced its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($9.25) by $9.02. The company had revenue of $0.33 million for the quarter. As a group, research analysts forecast that Trevena will post -32.25 EPS for the current fiscal year.

Hedge Funds Weigh In On Trevena

A hedge fund recently bought a new stake in Trevena stock. Armistice Capital LLC acquired a new position in Trevena, Inc. (NASDAQ:TRVN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 797,714 shares of the biopharmaceutical company’s stock, valued at approximately $576,000. Armistice Capital LLC owned 4.61% of Trevena as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 13.56% of the company’s stock.

About Trevena

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; 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.