Trevena, Inc. Stock Soars as Analysts Cheer Phase 2b Results for TRV130

Biotechnology company Trevena, Inc. (NASDAQ:TRVN) discovers and develops therapeutics to target G protein coupled receptors, or GPCRs. On August 31, the company announced positive results from its Phase 2b study of TRV130 in acute postoperative pain.

Within the study, patients who experienced moderate to severe acute postoperative pain after abdominoplasty surgery were randomly given TRV130 or a placebo. The study ultimately met its primary endpoint of decreasing pain post-surgery more than a placebo over 24 hours to a statistically significant degree. Furthermore, TRV130 proved to work better than morphine in terms of safety and tolerability, exhibiting significantly less common side effects such as nausea, vomiting, and hypoventilation events.

“The data from this trial showed that TRV130, when given on-demand, matched morphine efficacy for pain relief with a markedly improved safety and tolerability profile,” said Neil Singla, M.D., chief scientific officer of Lotus Clinical Research and lead investigator of the study. “The challenges of safely and adequately titrating morphine are well recognized, and these data suggest that, if approved, TRV130 may provide a better option than currently available opioid analgesics.”

Shares of Trevena have shot up 34.17% to $8.05 in pre-market trading following the positive Phase 2b results.

Needham analyst Alan Carr reiterated a Buy rating on Trevena this morning with a $14 price target following the positive results. The analyst believes “the Phase 2 program positions the drug as a differentiated option for acute pain” and in his opinion, “the stock is particularly attractive given low valuation, relatively short Phase 3 trials, and straightforward regulatory and commercial path for acute pain drugs.”

On average, Alan Carr has a 67% success rate recommending stocks and a +34% average return per recommendation when measured over a one-year horizon and no benchmark.

Similarly, Brean Capital analyst Jonathan Aschoff maintained a Buy rating on Trevena today with a $14 price target. The analyst noted, “While we are waiting for Trevena to present more specific safety and tolerability data later this year, we believe that the TRV130 groups generally demonstrated a better safety profile compared to morphine.” Furthermore, the end-point of the trial was “consistent with [his] strong view that PCA variable dosing would allow for lower TRV130 dosing and thus for its superior safety profile to emerge.”

Overall, Jonathan Aschoff has a 44% success rate recommending stocks and a +5.5% average return per recommendation when measured over a one-year horizon and no benchmark.

Out of four analysts polled by TipRanks within the past three months, all four are bullish on Trevena. The average 12-month price target for the company is $14.38, marking a 139.67% upside from where shares are currently trading as of this writing.

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