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

StockNews.com started coverage on shares of Trevena (NASDAQ:TRVNGet Rating) in a research note issued on Thursday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

Separately, Zacks Investment Research raised shares of Trevena from a “sell” rating to a “hold” rating in a report on Wednesday, February 2nd.

TRVN opened at $0.36 on Thursday. The firm has a 50-day simple moving average of $0.45 and a two-hundred day simple moving average of $0.65. Trevena has a 52 week low of $0.36 and a 52 week high of $2.20. The company has a market capitalization of $59.59 million, a PE ratio of -1.16 and a beta of 2.27.

Trevena (NASDAQ:TRVNGet Rating) last announced its quarterly earnings results on Thursday, March 31st. The biopharmaceutical company reported ($0.08) EPS for the quarter, beating the Zacks’ 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 62.36%. During the same period in the prior year, the business posted ($0.08) earnings per share. As a group, analysts forecast that Trevena will post -0.37 earnings per share for the current year.

Institutional investors have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA raised its position in Trevena by 454.1% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 34,896 shares of the biopharmaceutical company’s stock worth $43,000 after purchasing an additional 28,598 shares during the period. Bank of America Corp DE increased its position in shares of Trevena by 48.1% during the second quarter. Bank of America Corp DE now owns 34,607 shares of the biopharmaceutical company’s stock worth $59,000 after acquiring an additional 11,243 shares during the period. Two Sigma Advisers LP purchased a new position in shares of Trevena during the third quarter worth approximately $60,000. Invesco Ltd. purchased a new position in shares of Trevena during the second quarter worth approximately $73,000. Finally, Barclays PLC purchased a new position in shares of Trevena during the third quarter worth approximately $83,000. 22.62% of the stock is currently owned by institutional investors.

Trevena Company Profile (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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