Shares of Trevena (NASDAQ: TRVN) shot higher on Monday following a very bullish analyst report. Guggenheim initiated coverage on the stock, with prognosticator Dana Flanders rating it a buy with a price target of $5.00. Even after Monday's price hike, that level still implies potential upside of 140%.
Trevena is about to go to market with Olinvyk. This opioid received Food and Drug Administration approval last month for adult patients who suffer from acute pain serious enough to warrant the use of an intravenous opioid. It has the green light for use in hospitals or other controlled clinical settings.
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