Analysts Set Trevi Therapeutics, Inc. (NASDAQ:TRVI) Target Price at $21.60

Shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI) have earned a consensus recommendation of “Buy” from the twelve ratings firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, nine have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $21.60.

Several research firms recently weighed in on TRVI. Needham & Company LLC upped their price target on Trevi Therapeutics from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, March 18th. Stifel Nicolaus raised their price objective on Trevi Therapeutics from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. JonesTrading lowered their target price on Trevi Therapeutics from $25.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, March 19th. Oppenheimer reissued an “outperform” rating on shares of Trevi Therapeutics in a research report on Monday, March 9th. Finally, D. Boral Capital restated a “buy” rating and set a $19.00 price target on shares of Trevi Therapeutics in a report on Wednesday, March 18th.

Institutional Investors Weigh In On Trevi Therapeutics

A number of institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC grew its holdings in shares of Trevi Therapeutics by 20.4% during the 1st quarter. AQR Capital Management LLC now owns 27,720 shares of the company’s stock valued at $174,000 after acquiring an additional 4,688 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Trevi Therapeutics by 31.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,143 shares of the company’s stock worth $278,000 after acquiring an additional 10,445 shares in the last quarter. Millennium Management LLC boosted its position in Trevi Therapeutics by 356.3% during the first quarter. Millennium Management LLC now owns 823,249 shares of the company’s stock valued at $5,178,000 after purchasing an additional 642,830 shares during the last quarter. Strs Ohio purchased a new position in Trevi Therapeutics in the first quarter valued at about $52,000. Finally, Geode Capital Management LLC grew its stake in Trevi Therapeutics by 10.6% in the second quarter. Geode Capital Management LLC now owns 1,786,845 shares of the company’s stock valued at $9,776,000 after purchasing an additional 171,980 shares in the last quarter. Institutional investors and hedge funds own 95.76% of the company’s stock.

Trevi Therapeutics Stock Performance

Trevi Therapeutics stock opened at $11.94 on Friday. Trevi Therapeutics has a 52 week low of $4.85 and a 52 week high of $14.39. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of -37.31 and a beta of 0.99. The company has a 50 day moving average price of $11.27 and a 200 day moving average price of $11.19.

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

About Trevi Therapeutics

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.