Trevi Therapeutics, Inc. (NASDAQ:TRVI) Given Average Recommendation of “Buy” by Brokerages

Shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI) have been assigned an average rating of “Buy” from the eleven brokerages that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, eight have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $21.10.

Several research analysts recently weighed in on TRVI shares. Oppenheimer lifted their price objective on shares of Trevi Therapeutics from $23.00 to $24.00 and gave the stock an “outperform” rating in a research note on Friday, November 14th. Stifel Nicolaus increased their target price on shares of Trevi Therapeutics from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, December 19th. D. Boral Capital reissued a “buy” rating and issued a $19.00 price target on shares of Trevi Therapeutics in a report on Thursday. B. Riley upgraded shares of Trevi Therapeutics to a “strong-buy” rating in a research report on Monday, November 17th. Finally, Leerink Partners lifted their target price on Trevi Therapeutics from $13.00 to $16.00 and gave the stock an “outperform” rating in a report on Wednesday, November 19th.

Trevi Therapeutics Stock Down 0.3%

TRVI stock opened at $11.18 on Monday. Trevi Therapeutics has a twelve month low of $3.47 and a twelve month high of $14.39. The company has a market cap of $1.43 billion, a P/E ratio of -30.22 and a beta of 0.91. The business’s fifty day moving average is $12.19 and its 200-day moving average is $9.55.

Trevi Therapeutics (NASDAQ:TRVI) last released its quarterly earnings data on Thursday, November 13th. The company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.02. Research analysts anticipate that Trevi Therapeutics will post -0.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Trevi Therapeutics

Several institutional investors have recently modified their holdings of TRVI. Vivo Capital LLC boosted its holdings in shares of Trevi Therapeutics by 28.7% in the 2nd quarter. Vivo Capital LLC now owns 4,487,903 shares of the company’s stock valued at $24,549,000 after buying an additional 1,000,000 shares during the last quarter. Prudential Financial Inc. acquired a new position in Trevi Therapeutics during the second quarter worth $1,238,000. Flputnam Investment Management Co. raised its position in Trevi Therapeutics by 1,105.4% during the third quarter. Flputnam Investment Management Co. now owns 1,048,102 shares of the company’s stock worth $9,590,000 after acquiring an additional 961,150 shares in the last quarter. Jefferies Financial Group Inc. bought a new stake in Trevi Therapeutics during the second quarter worth $301,000. Finally, AXQ Capital LP acquired a new stake in Trevi Therapeutics in the second quarter valued at $227,000. Institutional investors own 95.76% of the company’s stock.

About Trevi Therapeutics

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.