Trevi Therapeutics (NASDAQ:TRVI) Sets New 52-Week High – Still a Buy?

Trevi Therapeutics, Inc. (NASDAQ:TRVI) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $13.36 and last traded at $13.3060, with a volume of 1364073 shares. The stock had previously closed at $11.36.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TRVI. Morgan Stanley boosted their target price on Trevi Therapeutics from $18.00 to $19.00 and gave the company an “overweight” rating in a research report on Friday, November 14th. Needham & Company LLC dropped their target price on Trevi Therapeutics from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Friday, August 8th. Oppenheimer increased their price target on shares of Trevi Therapeutics from $23.00 to $24.00 and gave the stock an “outperform” rating in a research report on Friday, November 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Trevi Therapeutics in a report on Wednesday, October 8th. Finally, Leerink Partners increased their target price on shares of Trevi Therapeutics from $13.00 to $16.00 and gave the stock an “outperform” rating in a report on Wednesday, November 19th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned 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 “Buy” and an average price target of $21.44.

Trevi Therapeutics Stock Up 16.4%

The stock has a fifty day moving average of $10.27 and a 200-day moving average of $8.06. The stock has a market cap of $1.69 billion, a PE ratio of -35.73 and a beta of 0.67.

Trevi Therapeutics (NASDAQ:TRVI) last issued its earnings results on Thursday, November 13th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.02. Equities research analysts forecast that Trevi Therapeutics, Inc. will post -0.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Vivo Capital LLC grew its position in Trevi Therapeutics by 13.5% during the third quarter. Vivo Capital LLC now owns 5,094,668 shares of the company’s stock valued at $46,616,000 after acquiring an additional 606,765 shares during the period. Velan Capital Investment Management LP purchased a new stake in shares of Trevi Therapeutics during the 3rd quarter worth about $1,876,000. Qube Research & Technologies Ltd increased its position in Trevi Therapeutics by 45.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 651,679 shares of the company’s stock worth $5,963,000 after purchasing an additional 203,827 shares in the last quarter. Millennium Management LLC raised its holdings in Trevi Therapeutics by 362.7% in the third quarter. Millennium Management LLC now owns 727,596 shares of the company’s stock valued at $6,658,000 after buying an additional 570,352 shares during the period. Finally, Fred Alger Management LLC lifted its position in Trevi Therapeutics by 221.5% during the third quarter. Fred Alger Management LLC now owns 191,045 shares of the company’s stock valued at $1,748,000 after buying an additional 131,620 shares in the last quarter. 95.76% of the stock is currently owned by hedge funds and other institutional investors.

About Trevi Therapeutics

Trevi Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapy Haduvio for the treatment of chronic cough in idiopathic pulmonary fibrosis (IPF) and refractory chronic cough (RCC) conditions targeting the central and peripheral nervous systems.