Retrophin (NASDAQ:RTRX) was upgraded by Zacks Investment Research from a "hold" rating to a "strong-buy" rating in a research note issued on Wednesday, Zacks.com reports. The firm presently has a $23.00 price objective on the biopharmaceutical company's stock. Zacks Investment Research's price objective indicates a potential upside of 12.69% from the company's current price.
According to Zacks, "Retrophin is a pharmaceutical company focused on the development, acquisition and commercialization of drugs for the treatment of serious, catastrophic or rare diseases for which there are currently no viable options for patients. The Company's approved products include Chenodal®, Cholbam, and Thiola®, and its pipeline includes compounds for several catastrophic diseases, including focal segmental glomerulosclerosis, pantothenate kinase-associated neurodegeneration, infantile spasms, nephrotic syndrome and others. Retrophin, Inc. is based in San Diego. "
Several other research analysts have also issued reports on RTRX. BMO Capital Markets dropped their price target on shares of Retrophin from $34.00 to $31.00 in a research report on Monday. Canaccord Genuity reissued a "buy" rating and issued a $26.00 price target on shares of Retrophin in a research report on Tuesday, May 19th. ValuEngine lowered shares of Retrophin from a "strong-buy" rating to a "buy" rating in a research report on Friday, April 17th. BidaskClub raised shares of Retrophin from a "hold" rating to a "buy" rating in a report on Saturday, June 27th. Finally, BTIG Research started coverage on shares of Retrophin in a report on Tuesday, June 16th. They set a "buy" rating and a $25.00 price objective for the company. One analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. The company presently has a consensus rating of "Buy" and an average price target of $27.00.
NASDAQ:RTRX opened at $20.41 on Wednesday. Retrophin has a 12-month low of $8.98 and a 12-month high of $21.91. The company has a quick ratio of 5.88, a current ratio of 5.97 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $864.84 million, a PE ratio of -8.33 and a beta of 0.86. The firm has a 50-day moving average price of $17.54 and a 200 day moving average price of $15.79.
Retrophin (NASDAQ:RTRX) last posted its quarterly earnings results on Monday, May 11th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of ($0.68) by $0.70. Retrophin had a negative net margin of 57.01% and a negative return on equity of 43.15%. The firm had revenue of $47.77 million during the quarter, compared to analyst estimates of $43.14 million. On average, research analysts expect that Retrophin will post -1.56 EPS for the current year.
In related news, Director Steve Aselage sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $20.00, for a total value of $200,000.00. Following the completion of the sale, the director now owns 238,732 shares of the company's stock, valued at $4,774,640. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last three months, insiders sold 16,364 shares of company stock valued at $298,850. 4.63% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of RTRX. Great West Life Assurance Co. Can acquired a new stake in shares of Retrophin in the fourth quarter valued at approximately $50,000. Credit Suisse AG increased its holdings in shares of Retrophin by 21.4% in the fourth quarter. Credit Suisse AG now owns 41,786 shares of the biopharmaceutical company's stock valued at $593,000 after purchasing an additional 7,374 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Retrophin by 20.0% in the fourth quarter. Renaissance Technologies LLC now owns 816,827 shares of the biopharmaceutical company's stock valued at $11,599,000 after acquiring an additional 135,902 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in Retrophin by 16.2% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 19,062 shares of the biopharmaceutical company's stock valued at $271,000 after acquiring an additional 2,652 shares during the last quarter. Finally, Oxford Asset Management LLP boosted its stake in Retrophin by 685.7% in the fourth quarter. Oxford Asset Management LLP now owns 103,202 shares of the biopharmaceutical company's stock valued at $1,465,000 after acquiring an additional 90,067 shares during the last quarter.
Retrophin Company Profile
Retrophin, Inc, a biopharmaceutical company, focuses on the identification, development, acquisition, and commercialization of therapies for the treatment of rare diseases. Its marketed products include Chenodal, a synthetic oral form of chenodeoxycholic acid for the treatment of radiolucent stones in well-opacifying gallbladders; Cholbam, a cholic acid capsule to treat pediatric and adult patients with bile acid synthesis disorders due to single enzyme defects, as well as for adjunctive treatment of patients with peroxisomal disorders; and Thiola, a tiopronin tablet for the treatment of cystinuria.
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