Trevi Therapeutics (NASDAQ:TRVI) Price Target Raised to $24.00

Trevi Therapeutics (NASDAQ:TRVI) had its target price hoisted by research analysts at HC Wainwright from $21.00 to $24.00 in a note issued to investors on Monday, Marketbeat reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price objective points to a potential upside of 25.85% from the company’s previous close.

Other research analysts have also issued research reports about the company. D. Boral Capital reaffirmed a “buy” rating and set a $19.00 price target on shares of Trevi Therapeutics in a research report on Friday, April 17th. Stifel Nicolaus set a $30.00 target price on shares of Trevi Therapeutics in a research report on Friday, May 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $23.00 target price on shares of Trevi Therapeutics in a report on Wednesday, May 20th. Wall Street Zen upgraded shares of Trevi Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Trevi Therapeutics in a research note on Friday. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $23.00.

Trevi Therapeutics Stock Performance

Shares of TRVI stock opened at $19.07 on Monday. The stock’s 50-day moving average is $15.85 and its two-hundred day moving average is $13.33. Trevi Therapeutics has a 1 year low of $6.55 and a 1 year high of $20.22. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of -59.59 and a beta of 1.00.

Trevi Therapeutics (NASDAQ:TRVI) last posted its 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). As a group, research analysts predict that Trevi Therapeutics will post -0.47 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. acquired a new position in shares of Trevi Therapeutics in the second quarter valued at approximately $28,447,000. Seven Fleet Capital Management LP lifted its holdings in shares of Trevi Therapeutics by 281.8% during the first quarter. Seven Fleet Capital Management LP now owns 27,149 shares of the company’s stock worth $324,000 after purchasing an additional 20,039 shares during the period. Avidity Partners Management LP purchased a new position in Trevi Therapeutics in the 1st quarter valued at $79,000. Bank of America Corp DE increased its stake in Trevi Therapeutics by 11.2% in the 1st quarter. Bank of America Corp DE now owns 1,216,955 shares of the company’s stock valued at $14,518,000 after buying an additional 122,104 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in Trevi Therapeutics by 55.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 43,561 shares of the company’s stock valued at $520,000 after buying an additional 15,624 shares during the period. 95.76% of the stock is currently owned by hedge funds and other 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.