Trevi Therapeutics (NASDAQ:TRVI) Posts Earnings Results, Beats Expectations By $0.02 EPS

Trevi Therapeutics (NASDAQ:TRVI) announced its quarterly earnings results on Thursday. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.02, Zacks reports.

Trevi Therapeutics Trading Down 3.3%

Shares of TRVI traded down $0.39 during midday trading on Thursday, reaching $11.46. 1,393,571 shares of the stock were exchanged, compared to its average volume of 1,922,993. The company’s 50 day moving average is $9.73 and its two-hundred day moving average is $7.77. Trevi Therapeutics has a 52 week low of $2.36 and a 52 week high of $12.30. The company has a market capitalization of $1.40 billion, a P/E ratio of -27.29 and a beta of 0.67.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Rubric Capital Management LP lifted its stake in shares of Trevi Therapeutics by 88.0% during the 2nd 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 last quarter. Vanguard Group Inc. lifted its position in Trevi Therapeutics by 9.6% during the third quarter. Vanguard Group Inc. now owns 5,826,986 shares of the company’s stock valued at $53,317,000 after acquiring an additional 510,295 shares during the last quarter. Alliancebernstein L.P. boosted its stake in Trevi Therapeutics by 19,064.5% in the second quarter. Alliancebernstein L.P. now owns 4,281,355 shares of the company’s stock valued at $23,419,000 after acquiring an additional 4,259,015 shares in the last quarter. Octagon Capital Advisors LP grew its holdings in Trevi Therapeutics by 10.5% in the second quarter. Octagon Capital Advisors LP now owns 3,672,000 shares of the company’s stock worth $20,086,000 after purchasing an additional 350,000 shares during the last quarter. Finally, Orbimed Advisors LLC increased its position in shares of Trevi Therapeutics by 195.4% during the second quarter. Orbimed Advisors LLC now owns 3,308,400 shares of the company’s stock worth $18,097,000 after purchasing an additional 2,188,400 shares in the last quarter. 95.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Leerink Partners initiated coverage on Trevi Therapeutics in a research report on Thursday. They set an “outperform” rating and a $13.00 target price for the company. Raymond James Financial dropped their price target on Trevi Therapeutics from $29.00 to $27.00 and set a “strong-buy” rating for the company in a research note on Friday, August 8th. Morgan Stanley assumed coverage on shares of Trevi Therapeutics in a research report on Thursday, August 21st. They set an “overweight” rating and a $18.00 price objective on the stock. Needham & Company LLC decreased their price target on shares of Trevi Therapeutics from $24.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, August 8th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Trevi Therapeutics in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $20.78.

Trevi Therapeutics Company Profile

Trevi Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapy Haduvio for the treatment of chronic cough in idiopathic pulmonary fibrosis (IPF) and refractory chronic cough (RCC) conditions targeting the central and peripheral nervous systems.