Retrophin (RTRX) Earns Buy Rating from Analysts at Nomura

Nomura assumed coverage on shares of Retrophin (NASDAQ:RTRX) in a research note released on Monday, Marketbeat Ratings reports. The firm issued a buy rating and a $57.00 price target on the biopharmaceutical company’s stock.

A number of other research firms have also weighed in on RTRX. ValuEngine upgraded Retrophin from a buy rating to a strong-buy rating in a research note on Wednesday, November 7th. BidaskClub upgraded Retrophin from a hold rating to a buy rating in a research note on Tuesday, August 28th. Zacks Investment Research upgraded Retrophin from a sell rating to a hold rating in a research note on Thursday, September 27th. Canaccord Genuity started coverage on Retrophin in a research note on Friday, August 17th. They issued a buy rating on the stock. Finally, Jefferies Financial Group started coverage on Retrophin in a research note on Tuesday, October 30th. They issued a buy rating and a $44.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $48.00.

NASDAQ:RTRX opened at $25.82 on Monday. Retrophin has a fifty-two week low of $20.09 and a fifty-two week high of $33.00. The firm has a market cap of $1.08 billion, a P/E ratio of -17.09 and a beta of 1.19. The company has a debt-to-equity ratio of 0.60, a quick ratio of 4.99 and a current ratio of 5.04.

Retrophin (NASDAQ:RTRX) last released its quarterly earnings results on Thursday, November 1st. The biopharmaceutical company reported ($0.92) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.53) by ($0.39). Retrophin had a negative net margin of 69.38% and a negative return on equity of 35.43%. The company had revenue of $40.70 million for the quarter, compared to analysts’ expectations of $44.36 million. During the same quarter in the previous year, the company posted $0.15 EPS. The business’s quarterly revenue was up 1.0% on a year-over-year basis. Sell-side analysts forecast that Retrophin will post -2.67 EPS for the current year.

In other Retrophin news, SVP Elizabeth E. Reed sold 2,500 shares of the stock in a transaction on Wednesday, November 14th. The stock was sold at an average price of $23.73, for a total value of $59,325.00. Following the sale, the senior vice president now owns 20,627 shares in the company, valued at $489,478.71. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider William E. Rote sold 5,000 shares of the stock in a transaction on Thursday, November 15th. The stock was sold at an average price of $24.03, for a total value of $120,150.00. Following the completion of the sale, the insider now owns 20,792 shares in the company, valued at approximately $499,631.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,100 shares of company stock worth $1,247,658. Insiders own 3.67% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Meeder Asset Management Inc. grew its position in shares of 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 in the last quarter. Sei Investments Co. bought a new position in shares of Retrophin during the 2nd quarter worth $141,000. Hartford Investment Management Co. bought a new position in shares of Retrophin during the 2nd quarter worth $216,000. Shell Asset Management Co. bought a new position in shares of Retrophin during the 3rd quarter worth $231,000. Finally, Trexquant Investment LP bought a new position in shares of Retrophin during the 2nd quarter worth $273,000. 98.15% of the stock is currently owned by institutional investors and hedge funds.

About Retrophin

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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