Trevi Therapeutics (NASDAQ:TRVI) Trading 7.9% Higher – Still a Buy?

Shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI) shot up 7.9% during mid-day trading on Friday . The company traded as high as $14.72 and last traded at $14.5250. 378,415 shares were traded during trading, a decline of 73% from the average session volume of 1,408,402 shares. The stock had previously closed at $13.46.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TRVI. Needham & Company LLC reiterated a “buy” rating and set a $23.00 target price on shares of Trevi Therapeutics in a report on Wednesday, May 20th. D. Boral Capital reiterated a “buy” rating and set a $19.00 target price on shares of Trevi Therapeutics in a report on Friday, April 17th. Wall Street Zen cut Trevi Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. JonesTrading lowered their target price on Trevi Therapeutics from $25.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, March 19th. Finally, Morgan Stanley restated an “overweight” rating and set a $20.00 price objective on shares of Trevi Therapeutics in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $22.90.

Trevi Therapeutics Trading Up 8.8%

The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of -45.77 and a beta of 1.04. The stock’s 50 day moving average price is $13.91 and its 200 day moving average price is $12.48.

Trevi Therapeutics (NASDAQ:TRVI) last issued its 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). On average, research analysts expect that Trevi Therapeutics, Inc. will post -0.47 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. KBC Group NV bought a new position in Trevi Therapeutics in the first quarter valued at approximately $29,000. Hilton Head Capital Partners LLC bought a new position in Trevi Therapeutics in the fourth quarter valued at approximately $40,000. Caitong International Asset Management Co. Ltd bought a new position in Trevi Therapeutics in the fourth quarter valued at approximately $50,000. Russell Investments Group Ltd. increased its stake in Trevi Therapeutics by 194.5% in the second quarter. Russell Investments Group Ltd. now owns 4,536 shares of the company’s stock valued at $25,000 after acquiring an additional 2,996 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Trevi Therapeutics by 32.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,231 shares of the company’s stock valued at $78,000 after acquiring an additional 1,523 shares during the last quarter. 95.76% of the stock is 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.