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Trevena price target lowered to $5 from $9 at H.C. Wainwright

H.C. Wainwright analyst Douglas Tsao lowered the firm’s price target on Trevena to $5 from $9 and keeps a Buy rating on the shares following the Q1 report. The firm likes the profile seen so far with TRV045, but given the uncertainties of an early stage asset and the company’s ability to properly develop it, the analyst dropped the price target.

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