Trevi Therapeutics (NASDAQ:TRVI) Reaches New 12-Month High – What’s Next?

Trevi Therapeutics, Inc. (NASDAQ:TRVI)’s stock price reached a new 52-week high on Saturday . The company traded as high as $20.22 and last traded at $19.07, with a volume of 8311756 shares changing hands. The stock had previously closed at $17.36.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TRVI. Needham & Company LLC restated a “buy” rating and issued a $23.00 target price on shares of Trevi Therapeutics in a report on Wednesday, May 20th. Morgan Stanley reaffirmed an “overweight” rating and set a $20.00 price target on shares of Trevi Therapeutics in a research report on Wednesday, May 6th. HC Wainwright reaffirmed a “buy” rating and set a $21.00 target price on shares of Trevi Therapeutics in a report on Wednesday, May 6th. Wall Street Zen raised shares of Trevi Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Finally, Stifel Nicolaus set a $30.00 target price on Trevi Therapeutics in a research note on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $22.67.

Trevi Therapeutics Price Performance

The firm has a market capitalization of $2.71 billion, a PE ratio of -59.59 and a beta of 1.00. The firm has a fifty day moving average price of $15.85 and a 200 day moving average price of $13.33.

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

Hedge Funds Weigh In On Trevi Therapeutics

A number of large investors have recently made changes to their positions in the business. Russell Investments Group Ltd. increased its stake in Trevi Therapeutics by 194.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 4,536 shares of the company’s stock valued at $25,000 after buying an additional 2,996 shares during the period. KBC Group NV bought a new stake in shares of Trevi Therapeutics in the 1st quarter valued at approximately $29,000. Hilton Head Capital Partners LLC bought a new stake in shares of Trevi Therapeutics in the 4th quarter valued at approximately $40,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Trevi Therapeutics during the 4th quarter worth $50,000. Finally, Strs Ohio acquired a new position in Trevi Therapeutics during the first quarter worth $52,000. Institutional investors and hedge funds own 95.76% of the company’s stock.

Trevi Therapeutics Company Profile

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.