Zacks Investment Research upgraded shares of Trevi Therapeutics (NASDAQ:TRVI) from a hold rating to a buy rating in a research report released on Saturday, Zacks.com reports. The brokerage currently has $1.75 price objective on the stock.
According to Zacks, “Trevi Therapeutics Inc. is a clinical-stage biopharmaceutical company. It is focused on the development and commercialization of nalbuphine ER to treat serious neurologically mediated conditions. The company is currently developing nalbuphine ER for the treatment of chronic pruritus, chronic cough in patients with idiopathic pulmonary fibrosis and levodopa-induced dyskinesia in patients with Parkinson’s disease. Trevi Therapeutics Inc. is based in New Haven, Connecticut. “
Separately, Needham & Company LLC dropped their price target on shares of Trevi Therapeutics from $12.00 to $10.00 and set a buy rating for the company in a research note on Friday, August 13th.
Trevi Therapeutics (NASDAQ:TRVI) last issued its quarterly earnings data on Thursday, August 12th. The company reported ($0.49) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.46) by ($0.03). As a group, analysts expect that Trevi Therapeutics will post -1.61 EPS for the current year.
Hedge funds have recently added to or reduced their stakes in the company. Citadel Advisors LLC bought a new position in shares of Trevi Therapeutics during the first quarter valued at $29,000. Alberta Investment Management Corp bought a new position in shares of Trevi Therapeutics during the second quarter valued at $56,000. BlackRock Inc. raised its stake in shares of Trevi Therapeutics by 40.6% during the first quarter. BlackRock Inc. now owns 32,394 shares of the company’s stock valued at $87,000 after acquiring an additional 9,357 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in Trevi Therapeutics by 374.1% during the first quarter. Renaissance Technologies LLC now owns 121,849 shares of the company’s stock worth $330,000 after buying an additional 96,149 shares during the last quarter. 57.80% of the stock is owned by hedge funds and other institutional investors.
About Trevi Therapeutics
Trevi Therapeutics, Inc is a clinical-stage biopharmaceutical company, which engages in the development and commercialization Haduvio to treat serious neurologically mediated conditions. It includes treatment of chronic pruritus associated with prurigo nodularis and chronic cough in patients with idiopathic pulmonary fibrosis, and levodopa-induced dyskinesia in patients with Parkinson’s disease.
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