Retrophin (RTRX) Shares Down 6.8% on Disappointing Earnings

Retrophin Inc (NASDAQ:RTRX)’s share price traded down 6.8% on Friday after the company announced weaker than expected quarterly earnings. The stock traded as low as $24.75 and last traded at $25.81. 580,812 shares traded hands during trading, an increase of 71% from the average session volume of 339,163 shares. The stock had previously closed at $27.70.

The biopharmaceutical company reported ($0.92) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.39). Retrophin had a negative net margin of 69.38% and a negative return on equity of 36.20%. The business had revenue of $40.70 million during the quarter, compared to the consensus estimate of $44.36 million. During the same quarter last year, the company posted $0.15 EPS. The firm’s revenue was up 1.0% on a year-over-year basis.

A number of equities research analysts recently weighed in on the company. Jefferies Financial Group assumed coverage on Retrophin in a research note on Tuesday, October 30th. They issued a “buy” rating and a $44.00 price target on the stock. Zacks Investment Research upgraded Retrophin from a “sell” rating to a “hold” rating in a research note on Thursday, September 27th. BidaskClub upgraded Retrophin from a “hold” rating to a “buy” rating in a research note on Tuesday, August 28th. Finally, Canaccord Genuity assumed coverage on Retrophin in a research note on Friday, August 17th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Retrophin presently has an average rating of “Buy” and an average price target of $43.50.

In related news, CEO Steve Aselage sold 12,000 shares of the stock in a transaction on Friday, August 31st. The stock was sold at an average price of $32.00, for a total value of $384,000.00. Following the sale, the chief executive officer now owns 257,883 shares in the company, valued at approximately $8,252,256. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.67% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. raised its stake in Retrophin by 10.1% in the 1st quarter. Principal Financial Group Inc. now owns 21,228 shares of the biopharmaceutical company’s stock valued at $475,000 after acquiring an additional 1,950 shares during the period. MetLife Investment Advisors LLC increased its position in Retrophin by 14.9% during the 2nd quarter. MetLife Investment Advisors LLC now owns 18,842 shares of the biopharmaceutical company’s stock worth $514,000 after buying an additional 2,439 shares during the period. State Board of Administration of Florida Retirement System increased its position in Retrophin by 11.7% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 26,595 shares of the biopharmaceutical company’s stock worth $725,000 after buying an additional 2,790 shares during the period. Meeder Asset Management Inc. increased its position in Retrophin by 315.6% during the 3rd 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. Finally, California Public Employees Retirement System increased its position in Retrophin by 7.3% during the 2nd quarter. California Public Employees Retirement System now owns 56,525 shares of the biopharmaceutical company’s stock worth $1,541,000 after buying an additional 3,824 shares during the period.

Retrophin Company Profile (NASDAQ:RTRX)

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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