Oppenheimer Keeps a Buy Rating on Trevena Inc

Oppenheimer analyst Christopher Liu maintained a Buy rating on Trevena Inc (NASDAQ: TRVN) yesterday and set a price target of $5. The company’s shares closed yesterday at $2.12.

Liu observed:

“TRVN reported 1Q18 financial results and a business update on 5/3. We believe that investors remain focused on (1) the upcoming adcom and (2) the capital overhang surrounding the stock. We continue to believe that Olinvo will likely be approved by the FDA based on the draft guidelines and two positive pivotal Phase 3 APOLLO studies and ATHENA safety study. We think that TRVN’s capital overhang could be partially offset by exclusive licensing deals. We believe that this non-dilutive financing is a positive for the company and could reduce the amount needed during an equity raise. We maintain our Outperform rating and $5 price target.”

Trevena Inc has an analyst consensus of Moderate Buy, with a price target consensus of $7.

See today’s analyst top recommended stocks >>

The company has a one-year high of $3.34 and a one-year low of $1.34. Currently, Trevena Inc has an average volume of 789.1K.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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. Trevena was founded by Robert Joseph Lefkowitz, Scott DeWire, Howard A.