Trevi Therapeutics (NASDAQ:TRVI) Given New $28.00 Price Target at JonesTrading

Trevi Therapeutics (NASDAQ:TRVI) had its price objective boosted by JonesTrading from $24.00 to $28.00 in a research note published on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

TRVI has been the topic of a number of other research reports. Cantor Fitzgerald boosted their price objective on Trevi Therapeutics from $25.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Raymond James Financial reissued a “strong-buy” rating and set a $40.00 price target on shares of Trevi Therapeutics in a research note on Friday, August 7th. Needham & Company LLC restated a “buy” rating and set a $23.00 price target on shares of Trevi Therapeutics in a report on Wednesday, May 20th. Morgan Stanley reaffirmed an “overweight” rating and issued a $23.00 price objective on shares of Trevi Therapeutics in a research note on Friday, August 7th. Finally, B. Riley Financial raised their price objective on shares of Trevi Therapeutics from $21.00 to $31.00 and gave the company a “buy” rating in a report on Monday, July 20th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Trevi Therapeutics presently has an average rating of “Buy” and an average target price of $27.08.

Trevi Therapeutics Price Performance

Shares of Trevi Therapeutics stock opened at $18.46 on Friday. The company’s 50 day moving average price is $17.41 and its two-hundred day moving average price is $14.27. The firm has a market capitalization of $2.63 billion, a P/E ratio of -54.29 and a beta of 1.03. Trevi Therapeutics has a fifty-two week low of $6.93 and a fifty-two week high of $20.22.

Trevi Therapeutics (NASDAQ:TRVI) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.11). On average, analysts expect that Trevi Therapeutics will post -0.48 earnings per share for the current year.

Institutional Investors Weigh In On Trevi Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Nan Fung Trinity HK Ltd. lifted its holdings in Trevi Therapeutics by 924.2% in the fourth quarter. Nan Fung Trinity HK Ltd. now owns 917,450 shares of the company’s stock valued at $11,486,000 after buying an additional 827,875 shares during the period. F m Investments LLC acquired a new stake in Trevi Therapeutics during the 4th quarter worth about $3,023,000. Pictet Asset Management Holding SA lifted its stake in shares of Trevi Therapeutics by 13,507.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,532,013 shares of the company’s stock valued at $19,181,000 after purchasing an additional 1,520,754 shares during the period. Candriam S.C.A. acquired a new position in shares of Trevi Therapeutics in the 1st quarter valued at about $9,229,000. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Trevi Therapeutics during the 2nd quarter valued at about $28,447,000. Institutional investors and hedge funds own 95.76% of the company’s stock.

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.