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

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

Separately, HC Wainwright lowered their price objective on Trevena from $9.00 to $5.00 and set a buy rating for the company in a research report on Thursday, May 16th.

Trevena Trading Down 5.2 %

Shares of TRVN stock opened at $0.23 on Friday. The business’s 50-day moving average price is $0.32 and its 200-day moving average price is $0.46. Trevena has a 12 month low of $0.19 and a 12 month high of $1.12. The firm has a market capitalization of $4.14 million, a price-to-earnings ratio of -0.08 and a beta of 1.05.

Trevena (NASDAQ:TRVN) last announced its quarterly earnings results on Wednesday, May 15th. The biopharmaceutical company reported ($0.36) EPS for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.01. The firm had revenue of $0.02 million for the quarter. On average, sell-side analysts predict that Trevena will post -1.29 earnings per share 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 shares of Trevena, Inc. (NASDAQ:TRVN) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 797,714 shares of the biopharmaceutical company’s stock, valued at approximately $576,000. Armistice Capital LLC owned about 4.61% of Trevena at the end of the most recent reporting period. 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.