Trevi Therapeutics (NASDAQ:TRVI) Issues Earnings Results

Trevi Therapeutics (NASDAQ:TRVI) released its quarterly earnings data on Thursday. The company reported ($0.11) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.11), FiscalAI reports.

Here are the key takeaways from Trevi Therapeutics’ conference call:

• Clinical programs remain on track: Trevi initiated the OCEAN-1 Phase III IPF-related chronic cough trial and LAKE-2b Phase II trial in refractory chronic cough during Q2, with OCEAN-2 planned for Q3. The company expects 50% enrollment in LAKE-2b during the second half of 2026.
• Trevi ended Q2 with approximately $319 million in cash, cash equivalents, and marketable securities and reiterated its cash runway into 2030, including funding for IPF development through potential approval, non-IPF ILD development through Phase III, and pre-commercial activities.
• The company views the termination of a competing refractory chronic cough program as improving its competitive position, potentially making Trevi the leading or only active developer across its three target cough indications. Management continues to estimate roughly 1 million U.S. treatment-resistant RCC patients as its initial commercial opportunity.
• Trevi is seeking FDA alignment on a non-IPF ILD-related chronic cough program and expects to learn this month whether an agency meeting has been granted. Management expects the eventual protocol to closely resemble the IPF program, but the regulatory path and number of required studies remain unresolved.
• The LAKE trial’s Q4 2026 sample-size re-estimation could require an increase of up to 50% if conditional power is below the company’s 80% threshold, potentially adding patients and affecting timelines, although management characterized this as a statistical adjustment rather than a sign of efficacy concerns.

Trevi Therapeutics Price Performance

Shares of NASDAQ TRVI traded up $0.01 during midday trading on Friday, hitting $18.51. The company’s stock had a trading volume of 2,175,078 shares, compared to its average volume of 2,334,202. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of -54.44 and a beta of 1.03. The business’s fifty day simple moving average is $16.97 and its two-hundred day simple moving average is $14.00. Trevi Therapeutics has a 1 year low of $6.55 and a 1 year high of $20.22.

Institutional Investors Weigh In On Trevi Therapeutics

A number of hedge funds have recently added to or reduced their stakes in TRVI. Invesco Ltd. boosted its position in Trevi Therapeutics by 3.3% in the 4th quarter. Invesco Ltd. now owns 498,926 shares of the company’s stock valued at $6,247,000 after buying an additional 15,856 shares during the period. KVP Capital Advisors LP acquired a new stake in shares of Trevi Therapeutics in the fourth quarter valued at $5,183,000. XTX Topco Ltd purchased a new position in Trevi Therapeutics in the fourth quarter valued at $1,049,000. Wellington Management Group LLP boosted its holdings in Trevi Therapeutics by 4.6% in the fourth quarter. Wellington Management Group LLP now owns 3,403,990 shares of the company’s stock valued at $42,618,000 after purchasing an additional 150,102 shares during the period. Finally, Tudor Investment Corp ET AL acquired a new position in Trevi Therapeutics during the 4th quarter worth $857,000. 95.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on TRVI shares. HC Wainwright increased their price target on shares of Trevi Therapeutics from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, July 20th. BMO Capital Markets initiated coverage on shares of Trevi Therapeutics in a research report on Monday, July 20th. They set an “outperform” rating and a $36.00 price target on the stock. Stifel Nicolaus set a $30.00 price objective on Trevi Therapeutics in a research report on Friday, May 8th. Needham & Company LLC reissued a “buy” rating and set a $23.00 target price on shares of Trevi Therapeutics in a research note on Wednesday, May 20th. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $40.00 target price on shares of Trevi Therapeutics in a research report on Friday. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Trevi Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $26.75.

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.