Trevi Therapeutics, Inc. (NASDAQ:TRVI) Receives $22.90 Average Price Target from Analysts

Shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI) have been assigned an average rating of “Buy” from the twelve brokerages that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, nine have issued a buy rating and two have given a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $22.90.

Several research firms have commented on TRVI. Needham & Company LLC reiterated a “buy” rating and set a $23.00 price target on shares of Trevi Therapeutics in a report on Wednesday. D. Boral Capital reiterated a “buy” rating and set a $19.00 price target on shares of Trevi Therapeutics in a report on Friday, April 17th. Morgan Stanley reiterated an “overweight” rating and set a $20.00 price target on shares of Trevi Therapeutics in a report on Wednesday, May 6th. Wall Street Zen cut shares of Trevi Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, HC Wainwright reiterated a “buy” rating and set a $21.00 price target on shares of Trevi Therapeutics in a report on Wednesday, May 6th.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Bank of America Corp DE boosted its holdings in shares of Trevi Therapeutics by 11.2% in the 1st quarter. Bank of America Corp DE now owns 1,216,955 shares of the company’s stock valued at $14,518,000 after buying an additional 122,104 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Trevi Therapeutics by 55.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 43,561 shares of the company’s stock valued at $520,000 after buying an additional 15,624 shares in the last quarter. AlphaCentric Advisors LLC boosted its holdings in shares of Trevi Therapeutics by 5.7% in the 1st quarter. AlphaCentric Advisors LLC now owns 23,970 shares of the company’s stock valued at $286,000 after buying an additional 1,303 shares in the last quarter. KBC Group NV acquired a new position in shares of Trevi Therapeutics in the 1st quarter valued at $29,000. Finally, Fifth Third Bancorp acquired a new position in shares of Trevi Therapeutics in the 1st quarter valued at $1,531,000. Institutional investors and hedge funds own 95.76% of the company’s stock.

Trevi Therapeutics Stock Down 0.2%

NASDAQ TRVI opened at $14.13 on Friday. Trevi Therapeutics has a 52 week low of $5.38 and a 52 week high of $16.12. The stock has a market capitalization of $2.01 billion, a PE ratio of -44.16 and a beta of 1.07. The firm has a 50 day moving average of $13.15 and a two-hundred day moving average of $12.21.

Trevi Therapeutics (NASDAQ:TRVI) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.02). On average, equities research analysts expect that Trevi Therapeutics will post -0.45 earnings per share for the current fiscal year.

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.