Zacks Investment Research Upgrades Retrophin (NASDAQ:RTRX) to Strong-Buy

Zacks Investment Research upgraded shares of Retrophin (NASDAQ:RTRX) from a hold rating to a strong-buy rating in a research report sent to investors on Wednesday, Zacks.com reports. They currently have $14.00 price objective on the biopharmaceutical company’s stock.

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. “

Other equities research analysts have also issued reports about the company. ValuEngine upgraded Retrophin from a hold rating to a buy rating in a research report on Wednesday, October 2nd. Jefferies Financial Group set a $33.00 price target on Retrophin and gave the company a buy rating in a research report on Friday, August 23rd. BidaskClub upgraded Retrophin from a strong sell rating to a sell rating in a research report on Thursday, October 31st. Barclays dropped their price target on Retrophin from $36.00 to $20.00 and set an overweight rating for the company in a research report on Friday, August 23rd. Finally, Leerink Swann set a $35.00 price objective on Retrophin and gave the stock a buy rating in a research report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $27.75.

NASDAQ RTRX traded up $0.73 on Wednesday, reaching $12.85. 368,400 shares of the stock traded hands, compared to its average volume of 481,190. The company has a debt-to-equity ratio of 0.82, a quick ratio of 4.94 and a current ratio of 5.00. The company has a fifty day moving average price of $11.72 and a 200-day moving average price of $16.50. The company has a market cap of $532.63 million, a price-to-earnings ratio of -5.06 and a beta of 0.79. Retrophin has a 12 month low of $10.87 and a 12 month high of $26.84.

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Retrophin (NASDAQ:RTRX) last posted its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.55) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.10) by $0.55. The business had revenue of $44.37 million during the quarter, compared to analyst estimates of $45.31 million. Retrophin had a negative return on equity of 43.88% and a negative net margin of 71.70%. The business’s revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.68) earnings per share. As a group, research analysts anticipate that Retrophin will post -3.45 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC acquired a new stake in shares of Retrophin in the second quarter valued at $26,000. Meeder Asset Management Inc. raised its stake in shares of Retrophin by 641.4% in the third quarter. Meeder Asset Management Inc. now owns 4,011 shares of the biopharmaceutical company’s stock valued at $47,000 after acquiring an additional 3,470 shares in the last quarter. Cutler Group LP acquired a new stake in shares of Retrophin in the third quarter valued at $70,000. Russell Investments Group Ltd. raised its stake in shares of Retrophin by 117.7% in the third quarter. Russell Investments Group Ltd. now owns 24,700 shares of the biopharmaceutical company’s stock valued at $286,000 after acquiring an additional 13,355 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Retrophin by 19.6% in the second quarter. JPMorgan Chase & Co. now owns 17,172 shares of the biopharmaceutical company’s stock valued at $344,000 after acquiring an additional 2,815 shares in the last quarter.

About Retrophin

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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Analyst Recommendations for Retrophin (NASDAQ:RTRX)

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