Trevi Therapeutics (NASDAQ:TRVI) Price Target Raised to $24.00 at HC Wainwright

Trevi Therapeutics (NASDAQ:TRVI) had its price target boosted by HC Wainwright from $21.00 to $24.00 in a research report sent to investors on Monday, MarketBeat reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts also recently weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Trevi Therapeutics in a report on Friday. Needham & Company LLC restated a “buy” rating and issued a $23.00 price target on shares of Trevi Therapeutics in a research note on Wednesday, May 20th. Stifel Nicolaus set a $30.00 price target on shares of Trevi Therapeutics in a research report on Friday, May 8th. 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. Finally, D. Boral Capital reiterated a “buy” rating and issued a $19.00 price objective on shares of Trevi Therapeutics in a research note on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Trevi Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $24.91.

Trevi Therapeutics Trading Down 12.1%

Shares of NASDAQ TRVI opened at $16.77 on Monday. The firm has a market cap of $2.38 billion, a P/E ratio of -52.41 and a beta of 1.00. The business’s 50 day moving average is $15.89 and its 200-day moving average is $13.36. Trevi Therapeutics has a 1-year low of $6.55 and a 1-year high of $20.22.

Trevi Therapeutics (NASDAQ:TRVI) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.02). Analysts forecast that Trevi Therapeutics will post -0.47 EPS for the current year.

Hedge Funds Weigh In On Trevi Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. increased 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 worth $23,419,000 after buying an additional 4,259,015 shares in the last quarter. Rubric Capital Management LP boosted its holdings in shares of Trevi Therapeutics by 88.0% during the 2nd quarter. Rubric Capital Management LP now owns 8,531,860 shares of the company’s stock valued at $46,669,000 after acquiring an additional 3,993,325 shares in the last quarter. Viking Global Investors LP boosted its holdings in shares of Trevi Therapeutics by 232.4% during the 3rd quarter. Viking Global Investors LP now owns 5,128,875 shares of the company’s stock valued at $46,929,000 after acquiring an additional 3,585,875 shares in the last quarter. Wellington Management Group LLP grew its position in Trevi Therapeutics by 1,792.0% during the 3rd quarter. Wellington Management Group LLP now owns 3,253,888 shares of the company’s stock worth $29,773,000 after acquiring an additional 3,081,906 shares during the last quarter. Finally, Marshall Wace LLP grew its position in 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 acquiring an additional 2,363,835 shares during the last quarter. 95.76% of the stock is currently owned by institutional investors and hedge funds.

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.