Trevi Therapeutics (NASDAQ:TRVI) Trading 9.4% Higher – Should You Buy?

Trevi Therapeutics, Inc. (NASDAQ:TRVI) traded up 9.4% on Wednesday . The stock traded as high as $11.62 and last traded at $11.6350. 460,128 shares traded hands during trading, a decline of 67% from the average session volume of 1,396,249 shares. The stock had previously closed at $10.64.

Analyst Ratings Changes

A number of brokerages recently issued reports on TRVI. D. Boral Capital restated a “buy” rating and issued a $19.00 price target on shares of Trevi Therapeutics in a research report on Wednesday, March 18th. Oppenheimer reissued an “outperform” rating on shares of Trevi Therapeutics in a research note on Monday, March 9th. Stifel Nicolaus raised their target price on shares of Trevi Therapeutics from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, December 19th. Needham & Company LLC lifted their price target on shares of Trevi Therapeutics from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, March 18th. Finally, Morgan Stanley cut their price target on shares of Trevi Therapeutics from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, March 18th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $21.60.

Trevi Therapeutics Trading Up 5.9%

The company has a 50-day simple moving average of $11.10 and a 200 day simple moving average of $11.05. The company has a market cap of $1.45 billion, a P/E ratio of -35.06 and a beta of 0.94.

Trevi Therapeutics (NASDAQ:TRVI) last released its earnings results on Tuesday, March 17th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.04. On average, equities analysts forecast that Trevi Therapeutics, Inc. will post -0.49 EPS for the current fiscal year.

Institutional Investors Weigh In On Trevi Therapeutics

Several large investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. grew its stake in Trevi Therapeutics by 194.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 4,536 shares of the company’s stock worth $25,000 after acquiring an additional 2,996 shares in the last quarter. Hilton Head Capital Partners LLC bought a new stake in shares of Trevi Therapeutics during the fourth quarter valued at approximately $40,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Trevi Therapeutics in the fourth quarter valued at approximately $50,000. Strs Ohio bought a new position in Trevi Therapeutics in the first quarter worth approximately $52,000. Finally, Rafferty Asset Management LLC purchased a new position in Trevi Therapeutics during the 2nd quarter worth $60,000. 95.76% of the stock is owned by hedge funds and other institutional investors.

Trevi Therapeutics Company Profile

Trevi Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the development of novel non-opioid therapies for the management of chronic and acute pain. The company leverages proprietary drug delivery platforms and targeted molecular approaches to address high unmet needs in cancer-related pain, chemotherapy-induced neuropathy and other severe pain conditions.

Its lead product candidate is a proprietary formulation of tetrodotoxin (TTX), a sodium-channel blocking agent being evaluated in early-stage clinical trials for moderate-to-severe pain associated with advanced cancer and peripheral neuropathy.