Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

Wainwright cuts Trevena stock target, maintains Buy rating

EditorAhmed Abdulazez Abdulkadir
Published 16/05/2024, 12:42
TRVN
-

On Thursday, H.C. Wainwright adjusted its outlook on Trevena (NASDAQ:TRVN), a biopharmaceutical company, by reducing its price target on the company's stock. The new price target is set at $5.00, decreased from the previous $9.00. Despite this change, the firm continues to hold a Buy rating on the stock.

The adjustment comes as the analyst acknowledges the potential of TRV045, Trevena's novel S1P receptor modulator, which is being considered for the treatment of diabetic neuropathy pain and epilepsy. Trevena has reported positive results from two proof-of-concept studies, namely the PainCart Study and the TMS study.

These studies provided evidence of TRV045's central nervous system activity and its analgesic effects in a capsaicin-induced model of neuropathic pain.

The analyst from H.C. Wainwright expressed a positive view on the profile of TRV045 based on the outcomes of the studies conducted. The treatment's characteristics have been identified as strong indicators for its candidacy in addressing the specified medical conditions.

However, the reduction in the price target is attributed to the uncertainties surrounding the early-stage asset and concerns regarding Trevena's ability to properly develop it. The complexities involved in advancing a drug through the development pipeline often entail significant risk, which appears to be factored into the revised price target.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.