Trevi Therapeutics (NASDAQ:TRVI) Sees Large Volume Increase – Time to Buy?

Trevi Therapeutics, Inc. (NASDAQ:TRVI) saw strong trading volume on Friday . Approximately 2,360,226 shares changed hands during mid-day trading, an increase of 41% from the previous session’s volume of 1,678,129 shares.The stock last traded at $20.1170 and had previously closed at $17.36.

Analyst Upgrades and Downgrades

TRVI has been the topic of several recent research reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $20.00 price target on shares of Trevi Therapeutics in a research note on Wednesday, May 6th. Needham & Company LLC restated a “buy” rating and set a $23.00 target price on shares of Trevi Therapeutics in a report on Wednesday, May 20th. Wall Street Zen upgraded shares of Trevi Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Trevi Therapeutics in a research report on Monday, April 20th. Finally, HC Wainwright reiterated a “buy” rating and issued a $21.00 price target on shares of Trevi Therapeutics in a research note on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Trevi Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $22.67.

Trevi Therapeutics Trading Up 9.9%

The company has a market cap of $2.71 billion, a PE ratio of -59.59 and a beta of 1.00. The firm has a 50 day moving average of $15.85 and a two-hundred day moving average of $13.33.

Trevi Therapeutics (NASDAQ:TRVI) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). On average, research analysts forecast that Trevi Therapeutics, Inc. will post -0.47 EPS for the current year.

Hedge Funds Weigh In On Trevi Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Alliancebernstein L.P. grew its holdings in shares of Trevi Therapeutics by 19,064.5% during the second quarter. Alliancebernstein L.P. now owns 4,281,355 shares of the company’s stock valued at $23,419,000 after buying an additional 4,259,015 shares during the last quarter. Rubric Capital Management LP raised its holdings in Trevi Therapeutics by 88.0% in 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 during the last quarter. Viking Global Investors LP raised its holdings in Trevi Therapeutics by 232.4% in the 3rd quarter. Viking Global Investors LP now owns 5,128,875 shares of the company’s stock worth $46,929,000 after acquiring an additional 3,585,875 shares during the last quarter. Wellington Management Group LLP lifted its position in Trevi Therapeutics by 1,792.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,253,888 shares of the company’s stock valued at $29,773,000 after acquiring an additional 3,081,906 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in Trevi Therapeutics by 95.4% in the 3rd quarter. Marshall Wace LLP now owns 4,841,751 shares of the company’s stock valued at $44,302,000 after acquiring an additional 2,363,835 shares in the last quarter. 95.76% of the stock is currently owned by institutional investors.

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.