Retrophin (NASDAQ:RTRX) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Retrophin (NASDAQ:RTRX) from a sell rating to a hold rating in a research report sent to investors on Wednesday, Zacks.com reports.

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 equities analysts have also weighed in on RTRX. Barclays started coverage on shares of GENFIT S A/ADR in a report on Monday, April 22nd. They issued an overweight rating and a $55.00 price target on the stock. Canaccord Genuity reiterated a speculative buy rating and issued a GBX 70 ($0.91) price target on shares of Bacanora Lithium in a report on Monday, July 1st. ValuEngine lowered shares of Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. BidaskClub upgraded shares of Xilinx from a hold rating to a buy rating in a report on Saturday, June 29th. Finally, William Blair reiterated a buy rating on shares of Retrophin in a report on Friday, July 5th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $44.50.

Shares of NASDAQ RTRX opened at $21.55 on Wednesday. Retrophin has a 1 year low of $17.53 and a 1 year high of $33.00. The stock’s 50 day moving average price is $19.64. The company has a current ratio of 4.57, a quick ratio of 4.52 and a debt-to-equity ratio of 0.69.

Retrophin (NASDAQ:RTRX) last announced its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.99) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.58) by ($0.41). Retrophin had a negative return on equity of 41.38% and a negative net margin of 75.75%. The firm had revenue of $39.57 million for the quarter, compared to analyst estimates of $41.40 million. During the same quarter last year, the business posted ($0.14) EPS. The firm’s revenue was up 3.0% compared to the same quarter last year. Sell-side analysts anticipate that Retrophin will post -3.02 earnings per share for the current year.

In other Retrophin news, Director Steve Aselage sold 3,676 shares of Retrophin stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $17.81, for a total value of $65,469.56. Following the transaction, the director now owns 257,804 shares in the company, valued at approximately $4,591,489.24. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Laura Clague sold 2,500 shares of Retrophin stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $18.25, for a total transaction of $45,625.00. Following the transaction, the chief financial officer now owns 14,750 shares in the company, valued at approximately $269,187.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,819 shares of company stock worth $194,503. 4.32% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of the stock. Handelsbanken Fonder AB boosted its holdings in Retrophin by 32.4% in the 2nd quarter. Handelsbanken Fonder AB now owns 612,856 shares of the biopharmaceutical company’s stock valued at $12,312,000 after purchasing an additional 150,000 shares during the period. Sphera Funds Management LTD. boosted its holdings in Retrophin by 33.8% in the 1st quarter. Sphera Funds Management LTD. now owns 435,678 shares of the biopharmaceutical company’s stock valued at $9,859,000 after purchasing an additional 110,000 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Retrophin by 3.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,944,288 shares of the biopharmaceutical company’s stock valued at $43,999,000 after purchasing an additional 73,284 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in shares of Retrophin in the 1st quarter valued at $217,000. Finally, DekaBank Deutsche Girozentrale raised its stake in shares of Retrophin by 22.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 19,400 shares of the biopharmaceutical company’s stock valued at $575,000 after buying an additional 3,600 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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