Needham & Company Reiterates Bullish Stance on Trevena (TRVN) Amid Positive TRV130 Phase 2b Bunionectomy Results

Needham & Company analyst Alan Carr reiterated a Buy rating and $14 price target on Trevena (NASDAQ: TRVN) following positive TRV130 Phase 2b bunionectomy trial results.

Carr commented, "Trevena reported positive top-line results from its Phase 2b trial of TRV130 in bunionectomy yesterday. This trial was designed to establish 1) superiority over placebo and 2) differentiation from standard of care morphine in post-operative pain. Statistically significant improvements in analgesia were observed relative to placebo over the 0-48 hr assessment period (2mg p=0.0024; 3mg p<0.0001). Notably, 3mg TRV130 was also found to be superior to 4mg morphine (p=0.014), without any difference in safety/tolerability. Differences in efficacy between TRV130 and morphine were most prominent during the first 3 hrs after administration. These data demonstrate TRV130 has a wide therapeutic window relative to morphine and adds validation to the biased ligand platform overall. We reiterate BUY and note low valuation (~$80M EV)."

For an analyst ratings summary and ratings history on Trevena click here. For more ratings news on Trevena click here.

Shares of Trevena closed at $5.66 yesterday.

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