Trevi Therapeutics’ (TRVI) Buy Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Trevi Therapeutics (NASDAQ:TRVI) in a research note released on Monday,Benzinga reports. They currently have a $21.00 price objective on the stock.

A number of other analysts also recently weighed in on the company. B. Riley Financial upgraded Trevi Therapeutics to a “strong-buy” rating in a research report on Monday, November 17th. Oppenheimer raised their price target on Trevi Therapeutics from $23.00 to $24.00 and gave the stock an “outperform” rating in a research report on Friday, November 14th. D. Boral Capital reaffirmed a “buy” rating and issued a $19.00 price target on shares of Trevi Therapeutics in a research note on Thursday, January 8th. Stifel Nicolaus upped their price objective on shares of Trevi Therapeutics from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. Finally, Morgan Stanley increased their price objective on shares of Trevi Therapeutics from $18.00 to $19.00 and gave the stock an “overweight” rating in a research note on Friday, November 14th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $21.10.

Trevi Therapeutics Price Performance

Shares of NASDAQ:TRVI opened at $11.94 on Monday. The company has a market capitalization of $1.53 billion, a P/E ratio of -32.27 and a beta of 0.94. Trevi Therapeutics has a 1 year low of $4.85 and a 1 year high of $14.39. The business’s 50 day simple moving average is $11.21 and its 200 day simple moving average is $10.80.

Hedge Funds Weigh In On Trevi Therapeutics

A number of institutional investors have recently modified their holdings of the business. Alliancebernstein L.P. lifted its position in shares of Trevi Therapeutics by 19,064.5% during the 2nd quarter. Alliancebernstein L.P. now owns 4,281,355 shares of the company’s stock worth $23,419,000 after buying an additional 4,259,015 shares during the last quarter. Rubric Capital Management LP boosted its stake in Trevi Therapeutics by 88.0% in the second quarter. Rubric Capital Management LP now owns 8,531,860 shares of the company’s stock valued at $46,669,000 after buying an additional 3,993,325 shares in the last quarter. Viking Global Investors LP grew its position in Trevi Therapeutics by 232.4% in the third quarter. Viking Global Investors LP now owns 5,128,875 shares of the company’s stock valued at $46,929,000 after acquiring an additional 3,585,875 shares during the last quarter. Wellington Management Group LLP grew its position in Trevi Therapeutics by 1,792.0% in the third quarter. Wellington Management Group LLP now owns 3,253,888 shares of the company’s stock valued at $29,773,000 after acquiring an additional 3,081,906 shares during the last quarter. Finally, Marshall Wace LLP raised its stake in 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 acquiring an additional 2,363,835 shares in the last quarter. 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.