H.C. Wainwright analyst Ed Arce maintained a Buy rating on Trevena Inc (NASDAQ: TRVN) today and set a price target of $3. The company’s shares opened today at $0.86, close to its 52-week low of $0.76.
According to TipRanks.com, Arce is a 5-star analyst with an average return of 16.2% and a 41.2% success rate. Arce covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Melinta Therapeutics Inc, and Collegium Pharmaceutical.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Trevena Inc with a $7.25 average price target, which is a 740.6% upside from current levels. In a report issued on October 10, JMP Securities also reiterated a Buy rating on the stock with a $15 price target.
Based on Trevena Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $9.3 million. In comparison, last year the company had a GAAP net loss of $16 million.
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Trevena, Inc. is a clinical stage biopharmaceutical company, which engages in the provision of healthcare services and development of therapies. The company product pipeline consists of Olinvo, TRV250, and TRV734.
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