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Trevena up as Cantor joins bullish analysts on opioid promise

August 28, 2020

Trevena (NASDAQ:TRVN) finished after-hours trading up 6.4% after Cantor Fitzgerald initiated coverage at Overweight, pegged to promise in the company’s new painkiller.

It’s hard to get an approval for new opioids, analyst Brandon Folkes says, but Trevena’s new offering Olinvyk is “sufficiently differentiated” to make a mark.

“While Olinvyk does not have label claims over morphine safety we believe the data generated to date will be sufficient for hospitals, ambulatory surgical centers as well as other early targets to begin usage of Olinvyk on its elderly, obese and complex patients,” he writes.

He’s joining other analysts with a $5 price target, implying 218% upside.

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