Trevi Therapeutics (NASDAQ:TRVI) Rating Lowered to Sell at Wall Street Zen

Trevi Therapeutics (NASDAQ:TRVI) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

A number of other analysts have also weighed in on the company. Needham & Company LLC restated a “buy” rating and issued a $23.00 target price on shares of Trevi Therapeutics in a research note on Wednesday, May 20th. HC Wainwright upped their price target on shares of Trevi Therapeutics from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. D. Boral Capital reissued a “buy” rating and set a $19.00 price objective on shares of Trevi Therapeutics in a report on Friday, April 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Trevi Therapeutics in a report on Friday, July 17th. Finally, Stifel Nicolaus set a $30.00 price objective on shares of Trevi Therapeutics in a research report on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Trevi Therapeutics has an average rating of “Buy” and a consensus price target of $24.91.

Trevi Therapeutics Price Performance

NASDAQ TRVI opened at $17.53 on Friday. The firm has a market cap of $2.49 billion, a PE ratio of -54.78 and a beta of 1.00. Trevi Therapeutics has a one year low of $6.55 and a one year high of $20.22. The stock’s 50 day simple moving average is $16.11 and its 200 day simple moving average is $13.51.

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 analysts’ consensus estimates of ($0.07) by ($0.02). As a group, equities analysts expect that Trevi Therapeutics will post -0.47 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC increased its holdings in Trevi Therapeutics by 20.4% in the first quarter. AQR Capital Management LLC now owns 27,720 shares of the company’s stock valued at $174,000 after purchasing an additional 4,688 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Trevi Therapeutics by 31.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,143 shares of the company’s stock valued at $278,000 after buying an additional 10,445 shares during the period. Millennium Management LLC boosted its holdings in Trevi Therapeutics by 356.3% during the first quarter. Millennium Management LLC now owns 823,249 shares of the company’s stock worth $5,178,000 after buying an additional 642,830 shares during the last quarter. Strs Ohio bought a new position in Trevi Therapeutics during the first quarter worth about $52,000. Finally, Creative Planning grew its position in shares of Trevi Therapeutics by 17.5% during the 2nd quarter. Creative Planning now owns 20,247 shares of the company’s stock worth $111,000 after buying an additional 3,016 shares during the period. 95.76% of the stock is currently 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.