Why Trevena's Stock Is Trading Higher Today

Trevena TRVN shares are trading higher on Friday after Cantor Fitzgerald initiated coverage on the company's stock with an Overweight rating and announced a $5 price target.

Trevena is an American biotechnology company. The portfolio pipeline is focused on medicines targeting pain management: TRV734: oral medicine for moderate to severe pain; TRV250: oral medicine for migraines; and TRV027: treatment for acute heart failure. Its leading product is oliceridine (TRV130), a protein-based chemical meant to manage moderate to severe acute pain.

Trevena's stock traded up 15.46% at $1.81 per share at the time of publication on Friday. The stock has a 52-week high of $3.68 and a 52-week low of 46 cents.