Trevi Therapeutics (NASDAQ:TRVI) Sets New 12-Month High – Here’s Why

Shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI) reached a new 52-week high on Wednesday . The stock traded as high as $16.25 and last traded at $16.0630, with a volume of 306532 shares traded. The stock had previously closed at $15.40.

Analyst Ratings Changes

TRVI has been the subject of several research analyst reports. Wall Street Zen cut shares of Trevi Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Needham & Company LLC restated a “buy” rating and issued a $23.00 price objective on shares of Trevi Therapeutics in a research report on Wednesday, May 20th. HC Wainwright reiterated a “buy” rating and set a $21.00 target price on shares of Trevi Therapeutics in a research report on Wednesday, May 6th. Stifel Nicolaus set a $30.00 target price on shares of Trevi Therapeutics in a research report on Friday, May 8th. Finally, Oppenheimer reiterated an “outperform” rating on shares of Trevi Therapeutics in a research report on Monday, March 9th. Two equities research 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $22.90.

Trevi Therapeutics Trading Up 7.5%

The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of -51.48 and a beta of 1.04. The stock’s 50 day moving average price is $14.09 and its 200 day moving average price is $12.54.

Trevi Therapeutics (NASDAQ:TRVI) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.02). On average, research analysts expect that Trevi Therapeutics, Inc. will post -0.47 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Rubric Capital Management LP increased its holdings in shares of Trevi Therapeutics by 88.0% during the second quarter. Rubric Capital Management LP now owns 8,531,860 shares of the company’s stock worth $46,669,000 after purchasing an additional 3,993,325 shares during the period. Vanguard Group Inc. increased its holdings in shares of Trevi Therapeutics by 10.4% during the fourth quarter. Vanguard Group Inc. now owns 6,434,655 shares of the company’s stock worth $80,562,000 after purchasing an additional 607,669 shares during the period. Viking Global Investors LP increased its holdings in shares of Trevi Therapeutics by 232.4% during the third quarter. Viking Global Investors LP now owns 5,128,875 shares of the company’s stock worth $46,929,000 after purchasing an additional 3,585,875 shares during the period. Vivo Capital LLC increased its holdings in shares of Trevi Therapeutics by 13.5% during the third quarter. Vivo Capital LLC now owns 5,094,668 shares of the company’s stock worth $46,616,000 after purchasing an additional 606,765 shares during the period. Finally, Marshall Wace LLP increased its holdings in shares of Trevi Therapeutics by 95.4% during the third quarter. Marshall Wace LLP now owns 4,841,751 shares of the company’s stock worth $44,302,000 after purchasing an additional 2,363,835 shares during the period. 95.76% of the stock is owned by 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.