Retrophin (NASDAQ:RTRX) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued on Thursday.
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. “
A number of other analysts have also commented on RTRX. ValuEngine raised Retrophin from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. BidaskClub raised Retrophin from a “hold” rating to a “buy” rating in a research note on Tuesday, August 28th. Jefferies Financial Group assumed coverage on Retrophin in a research note on Tuesday, October 30th. They set a “buy” rating and a $44.00 price objective on the stock. Finally, Canaccord Genuity assumed coverage on Retrophin in a research note on Friday, August 17th. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Retrophin presently has a consensus rating of “Buy” and an average price target of $43.50.
Shares of RTRX traded down $1.28 during trading hours on Thursday, reaching $25.77. 208,582 shares of the company traded hands, compared to its average volume of 301,596. The company has a quick ratio of 4.99, a current ratio of 5.04 and a debt-to-equity ratio of 0.60. The firm has a market cap of $1.12 billion, a P/E ratio of -17.18 and a beta of 1.19. Retrophin has a fifty-two week low of $20.09 and a fifty-two week high of $33.00.
Retrophin (NASDAQ:RTRX) last posted its quarterly earnings data on Thursday, November 1st. The biopharmaceutical company reported ($0.92) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.39). The company had revenue of $40.70 million for the quarter, compared to analyst estimates of $44.36 million. Retrophin had a negative net margin of 69.38% and a negative return on equity of 35.43%. The firm’s revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.15 EPS. As a group, equities analysts expect that Retrophin will post -2.67 EPS for the current fiscal year.
In related news, CEO Steve Aselage sold 12,000 shares of the stock in a transaction dated Friday, August 31st. The stock was sold at an average price of $32.00, for a total transaction of $384,000.00. Following the transaction, the chief executive officer now directly owns 257,883 shares in the company, valued at $8,252,256. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.67% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. lifted its position in Retrophin by 315.6% during the third quarter. Meeder Asset Management Inc. now owns 4,663 shares of the biopharmaceutical company’s stock worth $135,000 after buying an additional 3,541 shares during the period. FNY Investment Advisers LLC purchased a new position in Retrophin during the second quarter worth about $136,000. Sei Investments Co. purchased a new position in Retrophin during the second quarter worth about $141,000. Hartford Investment Management Co. purchased a new position in Retrophin during the second quarter worth about $216,000. Finally, Xact Kapitalforvaltning AB purchased a new position in Retrophin during the first quarter worth about $206,000.
Retrophin, Inc, a biopharmaceutical company, focuses on the 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, and for adjunctive treatment of patients with peroxisomal disorders; and Thiola, a tiopronin tablet for the treatment of cystinuria.
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