Trevena (TRVN) PT Bumped to $14 at Cowen as TRV130 Shows Strong Safety And Efficacy Profile
Cowen analyst Ritu Baral reiterated an Outperform rating and bumped her price target on Trevena (NASDAQ: TRVN) to $14.00 (from $13.00) based on increased conviction around TRV130, which yesterday showed more positive Ph2b data (stat sig vs. PBO) in postoperative soft tissue pain (post-abdominoplasty).
"Data showed comparable efficacy, quicker onset of action, stat sig superior safety compared to morphine. We expect Ph3 development to begin in 1Q16," Baral commented.
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Shares of Trevena closed at $6.00 yesterday.