Retrophin (NASDAQ:RTRX) Rating Increased to Hold at Zacks Investment Research
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 firms also recently issued reports on RTRX. ValuEngine downgraded shares of Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Barclays initiated coverage on shares of GENFIT S A/ADR in a research note on Monday, April 22nd. They issued an overweight rating and a $55.00 price objective for the company. Canaccord Genuity restated a speculative buy rating and issued a GBX 70 ($0.91) price objective on shares of Bacanora Lithium in a research note on Monday, July 1st. BidaskClub upgraded shares of Xilinx from a hold rating to a buy rating in a research note on Saturday, June 29th. Finally, William Blair restated a buy rating on shares of Retrophin in a research note on Friday, July 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $44.50.
Retrophin (NASDAQ:RTRX) last released its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported ($0.99) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.41). Retrophin had a negative net margin of 75.75% and a negative return on equity of 41.38%. The company had revenue of $39.57 million during the quarter, compared to analyst estimates of $41.40 million. During the same quarter in the prior year, the company earned ($0.14) EPS. The business’s revenue was up 3.0% on a year-over-year basis. Analysts predict that Retrophin will post -3.02 EPS for the current fiscal year.
In other news, insider William E. Rote sold 1,625 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $17.77, for a total transaction of $28,876.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steve Aselage sold 3,676 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $17.81, for a total transaction of $65,469.56. Following the sale, the director now owns 257,804 shares of the company’s stock, valued at approximately $4,591,489.24. The disclosure for this sale can be found here. Insiders sold 10,819 shares of company stock valued at $194,503 in the last 90 days. 4.32% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in RTRX. Bank of America Corp DE boosted its stake in shares of Retrophin by 114.4% during the fourth quarter. Bank of America Corp DE now owns 1,223,705 shares of the biopharmaceutical company’s stock worth $27,693,000 after buying an additional 652,895 shares during the period. Macquarie Group Ltd. lifted its position in Retrophin by 17.6% in the fourth quarter. Macquarie Group Ltd. now owns 2,265,924 shares of the biopharmaceutical company’s stock valued at $51,278,000 after purchasing an additional 339,588 shares during the period. Two Sigma Investments LP lifted its position in Retrophin by 247.9% in the fourth quarter. Two Sigma Investments LP now owns 300,873 shares of the biopharmaceutical company’s stock valued at $6,809,000 after purchasing an additional 214,392 shares during the period. D. E. Shaw & Co. Inc. increased its holdings in Retrophin by 30.6% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 777,520 shares of the biopharmaceutical company’s stock valued at $17,595,000 after buying an additional 182,318 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its holdings in Retrophin by 32.4% in the second quarter. Handelsbanken Fonder AB now owns 612,856 shares of the biopharmaceutical company’s stock valued at $12,312,000 after buying an additional 150,000 shares in 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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