Trevi Therapeutics (NASDAQ:TRVI) Upgraded at BMO Capital Markets

BMO Capital Markets upgraded shares of Trevi Therapeutics (NASDAQ:TRVI) to a strong-buy rating in a report published on Monday,Zacks.com reports.

Other equities analysts also recently issued reports about the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Trevi Therapeutics in a research note on Friday, July 17th. D. Boral Capital reaffirmed a “buy” rating and set a $19.00 price target on shares of Trevi Therapeutics in a research note on Friday, April 17th. Wall Street Zen upgraded Trevi Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Needham & Company LLC reiterated a “buy” rating and set a $23.00 price target on shares of Trevi Therapeutics in a report on Wednesday, May 20th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $20.00 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, nine have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Trevi Therapeutics has a consensus rating of “Buy” and a consensus target price of $24.91.

Trevi Therapeutics Stock Performance

TRVI stock opened at $17.36 on Monday. The firm has a 50 day simple moving average of $16.00 and a 200 day simple moving average of $13.43. Trevi Therapeutics has a 52 week low of $6.55 and a 52 week high of $20.22. The stock has a market cap of $2.46 billion, a P/E ratio of -54.25 and a beta of 1.00.

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

Hedge Funds Weigh In On Trevi Therapeutics

Several institutional investors have recently bought and sold shares of TRVI. Nan Fung Trinity HK Ltd. boosted its holdings in Trevi Therapeutics by 924.2% during the fourth quarter. Nan Fung Trinity HK Ltd. now owns 917,450 shares of the company’s stock valued at $11,486,000 after acquiring an additional 827,875 shares during the period. F m Investments LLC bought a new position in shares of Trevi Therapeutics in the fourth quarter worth about $3,023,000. Pictet Asset Management Holding SA lifted its position in shares of Trevi Therapeutics by 13,507.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,532,013 shares of the company’s stock worth $19,181,000 after purchasing an additional 1,520,754 shares during the last quarter. Candriam S.C.A. acquired a new position in shares of Trevi Therapeutics during the 1st quarter worth about $9,229,000. Finally, Comerica Bank boosted its stake in Trevi Therapeutics by 19,481.8% during the 4th quarter. Comerica Bank now owns 83,027 shares of the company’s stock valued at $1,039,000 after purchasing an additional 82,603 shares during the period. 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.