Trevi Therapeutics, Inc. (NASDAQ:TRVI) Receives Consensus Recommendation of “Buy” from Analysts

Trevi Therapeutics, Inc. (NASDAQ:TRVI) has earned an average recommendation of “Buy” from the twelve ratings firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $21.60.

A number of research firms have recently weighed in on TRVI. Morgan Stanley cut their price objective on Trevi Therapeutics from $19.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Trevi Therapeutics in a report on Wednesday, January 21st. Oppenheimer reissued an “outperform” rating on shares of Trevi Therapeutics in a research note on Monday, March 9th. JonesTrading cut their price target on Trevi Therapeutics from $25.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, March 19th. Finally, Needham & Company LLC increased their price target on Trevi Therapeutics from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, March 18th.

Trevi Therapeutics Stock Performance

Shares of TRVI stock opened at $11.33 on Friday. Trevi Therapeutics has a fifty-two week low of $4.85 and a fifty-two week high of $14.39. The company has a 50 day moving average price of $11.14 and a 200 day moving average price of $11.09. The stock has a market capitalization of $1.45 billion, a P/E ratio of -35.41 and a beta of 0.94.

Trevi Therapeutics (NASDAQ:TRVI) last released its earnings results on Tuesday, March 17th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04. On average, research analysts forecast that Trevi Therapeutics will post -0.49 EPS for the current fiscal year.

Institutional Trading of Trevi Therapeutics

Several hedge funds have recently added to or reduced their stakes in the company. Rubric Capital Management LP grew its holdings in Trevi Therapeutics by 88.0% during the 2nd quarter. Rubric Capital Management LP now owns 8,531,860 shares of the company’s stock worth $46,669,000 after acquiring an additional 3,993,325 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Trevi Therapeutics by 10.4% in the 4th quarter. Vanguard Group Inc. now owns 6,434,655 shares of the company’s stock valued at $80,562,000 after purchasing an additional 607,669 shares during the last quarter. Viking Global Investors LP raised its holdings in shares of Trevi Therapeutics by 232.4% in the 3rd quarter. Viking Global Investors LP now owns 5,128,875 shares of the company’s stock valued at $46,929,000 after purchasing an additional 3,585,875 shares in the last quarter. Vivo Capital LLC raised its holdings in shares of Trevi Therapeutics by 13.5% in the 3rd quarter. Vivo Capital LLC now owns 5,094,668 shares of the company’s stock valued at $46,616,000 after purchasing an additional 606,765 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in shares of Trevi Therapeutics by 95.4% during the 3rd quarter. Marshall Wace LLP now owns 4,841,751 shares of the company’s stock worth $44,302,000 after purchasing an additional 2,363,835 shares during the last quarter. Institutional investors and hedge funds 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.