Zacks Investment Research Downgrades Retrophin (RTRX) to Strong Sell

Share on StockTwits

Retrophin (NASDAQ:RTRX) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report released on Thursday.

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. “

A number of other brokerages have also weighed in on RTRX. ValuEngine raised Retrophin from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Jefferies Financial Group began coverage on Retrophin in a report on Tuesday, October 30th. They set a “buy” rating and a $44.00 price objective on the stock. BidaskClub raised Retrophin from a “hold” rating to a “buy” rating in a report on Tuesday, August 28th. Finally, Canaccord Genuity began coverage on Retrophin in a report on Friday, August 17th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the company. Retrophin presently has a consensus rating of “Buy” and an average target price of $43.50.

Shares of Retrophin stock traded down $1.28 during trading hours on Thursday, hitting $25.77. 208,582 shares of the company were exchanged, compared to its average volume of 301,596. Retrophin has a 1 year low of $20.09 and a 1 year high of $33.00. The company has a debt-to-equity ratio of 0.60, a current ratio of 5.04 and a quick ratio of 4.99. The stock has a market capitalization of $1.12 billion, a PE ratio of -17.18 and a beta of 1.19.

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

In related news, CEO Steve Aselage sold 12,000 shares of the company’s stock in a transaction on Friday, August 31st. The stock was sold at an average price of $32.00, for a total transaction of $384,000.00. Following the transaction, the chief executive officer now owns 257,883 shares of the company’s stock, valued at $8,252,256. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.67% of the company’s stock.

A number of hedge funds have recently made changes to their positions in RTRX. PNC Financial Services Group Inc. grew its holdings in Retrophin by 20.4% in the third quarter. PNC Financial Services Group Inc. now owns 327,857 shares of the biopharmaceutical company’s stock valued at $9,419,000 after purchasing an additional 55,529 shares during the last quarter. FNY Investment Advisers LLC grew its holdings in Retrophin by 100.0% in the third quarter. FNY Investment Advisers LLC now owns 10,000 shares of the biopharmaceutical company’s stock valued at $287,000 after purchasing an additional 5,000 shares during the last quarter. Falcon Point Capital LLC grew its holdings in Retrophin by 23.4% in the third quarter. Falcon Point Capital LLC now owns 169,524 shares of the biopharmaceutical company’s stock valued at $4,870,000 after purchasing an additional 32,148 shares during the last quarter. Meeder Asset Management Inc. grew its holdings in Retrophin by 315.6% in the third quarter. Meeder Asset Management Inc. now owns 4,663 shares of the biopharmaceutical company’s stock valued at $135,000 after purchasing an additional 3,541 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in Retrophin by 16.1% in the third quarter. Wells Fargo & Company MN now owns 110,585 shares of the biopharmaceutical company’s stock valued at $3,177,000 after purchasing an additional 15,335 shares during the last quarter.

Retrophin Company Profile

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.

Recommended Story: Call Option

Get a free copy of the Zacks research report on Retrophin (RTRX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Retrophin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Retrophin and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply