Trevi Therapeutics (NASDAQ:TRVI) Now Covered by Analysts at Morgan Stanley

Morgan Stanley initiated coverage on shares of Trevi Therapeutics (NASDAQ:TRVI) in a research note issued to investors on Thursday morning, Marketbeat Ratings reports. The firm issued an overweight rating and a $18.00 target price on the stock.

TRVI has been the subject of several other reports. HC Wainwright began coverage on shares of Trevi Therapeutics in a research report on Wednesday, May 28th. They set a “buy” rating and a $21.00 price target for the company. Raymond James Financial decreased their price target on shares of Trevi Therapeutics from $29.00 to $27.00 and set a “strong-buy” rating for the company in a research report on Friday, August 8th. Oppenheimer reissued an “outperform” rating on shares of Trevi Therapeutics in a research report on Monday, June 2nd. Needham & Company LLC decreased their price target on shares of Trevi Therapeutics from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Friday, August 8th. Finally, Cantor Fitzgerald initiated coverage on shares of Trevi Therapeutics in a research report on Tuesday, July 1st. They set an “overweight” rating and a $25.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating and eight have given a Buy rating to the company. According to MarketBeat.com, Trevi Therapeutics has an average rating of “Buy” and an average target price of $20.11.

Trevi Therapeutics Stock Performance

Shares of NASDAQ:TRVI opened at $7.49 on Thursday. The firm has a market cap of $912.13 million, a PE ratio of -17.83 and a beta of 0.58. The firm’s 50 day simple moving average is $6.76 and its 200-day simple moving average is $6.13. Trevi Therapeutics has a one year low of $2.36 and a one year high of $8.11.

Trevi Therapeutics (NASDAQ:TRVI) last issued its earnings results on Thursday, August 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.01. Equities research analysts predict that Trevi Therapeutics will post -0.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Trevi Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. lifted its holdings in Trevi Therapeutics by 194.5% in the second quarter. Russell Investments Group Ltd. now owns 4,536 shares of the company’s stock valued at $25,000 after acquiring an additional 2,996 shares during the period. Summit Investment Advisors Inc. increased its position in shares of Trevi Therapeutics by 84.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 6,332 shares of the company’s stock valued at $26,000 after buying an additional 2,894 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Trevi Therapeutics by 15,969.1% in the second quarter. Farther Finance Advisors LLC now owns 8,838 shares of the company’s stock valued at $48,000 after buying an additional 8,783 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Trevi Therapeutics in the fourth quarter valued at approximately $49,000. Finally, Strs Ohio purchased a new stake in shares of Trevi Therapeutics in the first quarter valued at approximately $52,000. Institutional investors and hedge funds own 95.76% of the company’s stock.

About Trevi Therapeutics

Trevi Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapy Haduvio for the treatment of chronic cough in idiopathic pulmonary fibrosis (IPF) and refractory chronic cough (RCC) conditions targeting the central and peripheral nervous systems.