The Retrophin Inc. (RTRX) Rating Increased to Buy at Zacks Investment Research

The Retrophin Inc. (RTRX) Rating Increased to Buy at Zacks Investment Research

Retrophin Inc. (NASDAQ:RTRX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The firm currently has a $25.00 target price on the biopharmaceutical company’s stock. Zacks Investment Research’s target price would suggest a potential upside of 12.71% from the company’s current price.

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. “

Several other equities research analysts also recently weighed in on RTRX. JMP Securities restated a “buy” rating on shares of Retrophin in a research note on Saturday, July 9th. BMO Capital Markets restated a “buy” rating on shares of Retrophin in a research note on Monday, June 20th. Finally, Leerink Swann raised their target price on shares of Retrophin from $27.00 to $32.00 and gave the company an “outperform” rating in a research note on Wednesday, September 7th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Retrophin presently has an average rating of “Buy” and an average target price of $28.40.

Shares of Retrophin (NASDAQ:RTRX) opened at 22.18 on Wednesday. Retrophin has a 1-year low of $11.60 and a 1-year high of $24.57. The stock has a market capitalization of $814.69 million, a price-to-earnings ratio of 9.01 and a beta of 1.02. The stock has a 50 day moving average price of $21.20 and a 200 day moving average price of $17.81.

Retrophin (NASDAQ:RTRX) last announced its earnings results on Thursday, August 4th. The biopharmaceutical company reported $0.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.23) by $0.30. The company earned $33.30 million during the quarter, compared to the consensus estimate of $32.73 million. Retrophin had a net margin of 83.57% and a negative return on equity of 0.52%. Retrophin’s revenue for the quarter was up 38.2% on a year-over-year basis. Equities research analysts anticipate that Retrophin will post $0.09 EPS for the current year.

In other news, EVP Alvin Shih sold 8,750 shares of Retrophin stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $16.24, for a total transaction of $142,100.00. Following the completion of the sale, the executive vice president now directly owns 158,334 shares in the company, valued at $2,571,344.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.41% of the company’s stock.

Several large investors have recently bought and sold shares of the company. American International Group Inc. increased its position in Retrophin by 1.7% in the second quarter. American International Group Inc. now owns 20,847 shares of the biopharmaceutical company’s stock worth $371,000 after buying an additional 351 shares in the last quarter. ProShare Advisors LLC increased its position in Retrophin by 1.4% in the second quarter. ProShare Advisors LLC now owns 31,730 shares of the biopharmaceutical company’s stock worth $565,000 after buying an additional 425 shares in the last quarter. Nationwide Fund Advisors increased its position in Retrophin by 3.8% in the second quarter. Nationwide Fund Advisors now owns 23,344 shares of the biopharmaceutical company’s stock worth $416,000 after buying an additional 862 shares in the last quarter. Alambic Investment Management L.P. increased its position in Retrophin by 9.0% in the second quarter. Alambic Investment Management L.P. now owns 18,800 shares of the biopharmaceutical company’s stock worth $335,000 after buying an additional 1,550 shares in the last quarter. Finally, First Mercantile Trust Co. increased its position in Retrophin by 35.4% in the second quarter. First Mercantile Trust Co. now owns 5,930 shares of the biopharmaceutical company’s stock worth $106,000 after buying an additional 1,550 shares in the last quarter.

About Retrophin

Retrophin, Inc is a biopharmaceutical company focused on the development, acquisition and commercialization of therapies for the treatment of serious, catastrophic or rare diseases. It sells three products, including Chenodal (chenodeoxycholic acid), Cholbam (cholic acid) and Thiola (tiopronin). Its Chenodal is approved in the United States for the treatment of patients suffering from gallstones in whom surgery poses an unacceptable health risk due to disease or advanced age.

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