StockNews.com initiated coverage on shares of Trevena (NASDAQ:TRVN – Free Report) in a research report sent to investors on Friday morning. The brokerage issued a sell rating on the biopharmaceutical company’s stock.
Separately, HC Wainwright lowered their price objective on shares of Trevena from $9.00 to $5.00 and set a buy rating for the company in a research report on Thursday, May 16th.
Read Our Latest Stock Analysis on TRVN
Trevena Stock Down 3.5 %
Trevena (NASDAQ:TRVN – Get Free Report) last issued its quarterly earnings data on Wednesday, May 15th. The biopharmaceutical company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.01. The firm had revenue of $0.02 million during the quarter. On average, equities analysts anticipate that Trevena will post -1.29 earnings per share for the current year.
Institutional Trading of Trevena
A hedge fund recently bought a new stake in Trevena stock. Armistice Capital LLC purchased a new position in shares of Trevena, Inc. (NASDAQ:TRVN – Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 797,714 shares of the biopharmaceutical company’s stock, valued at approximately $576,000. Armistice Capital LLC owned approximately 4.61% of Trevena at the end of the most recent quarter. 13.56% of the stock is currently owned by hedge funds and other institutional investors.
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.
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