Oppenheimer Gives a Buy Rating to Trevena Inc

By Jason Carr

Oppenheimer analyst Derek Archila assigned a Buy rating to Trevena Inc (NASDAQ: TRVN) today and set a price target of $5. The company’s shares closed on Friday at $1.78, close to its 52-week low of $1.35.

Archila commented:

“On 11/7, TRVN reported its 3Q17 financial results and provided a business update. We adjust our model accordingly. We maintain the view TRVN’s Olinvo which is indicated for moderate-to-severe pain after surgery is both approvable and commercially viable. Based on our previous physician checks, we believe the product will find a niche within patients at high risk of opioid-related side effects, particularly in GI and respiratory-related surgical procedures. With the company having recently filed its NDA for Olinvo, this means there are few stock-moving catalysts until approval, which we expect in the 2H18. With that said, we believe investors may wait until we are several months from approval before getting more constructive.”

According to TipRanks.com, Archila is ranked 0 out of 5 stars with an average return of -17.4% and a 18.9% success rate. Archila covers the Healthcare sector, focusing on stocks such as Synergy Pharmaceuticals Inc, Zynerba Pharmaceuticals, and Pacira Pharmaceuticals.

Currently, the analyst consensus on Trevena Inc is Strong Buy and the average price target is $4.88, representing a 174.2% upside.

In a report issued on November 7, Needham also assigned a Buy rating to the stock with a $7 price target.

Based on Trevena Inc’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $0 and GAAP net loss of $16 million. In comparison, last year the company earned revenue of $0 and had a GAAP net loss of $29.9 million.

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Trevena, Inc. is a clinical stage biopharmaceutical company. It discovers, develops and intends to commercialize therapeutics that use a novel approach to target G protein coupled receptors. The company product pipeline consists of TRV027, TRV130, TRV734, and Delta Opiod. Trevena was founded by Robert Joseph Lefkowitz, Scott DeWire, Howard A.