Trevi Therapeutics (NASDAQ:TRVI) Upgraded by BMO Capital Markets to “Strong-Buy” Rating

Trevi Therapeutics (NASDAQ:TRVI) was upgraded by investment analysts at BMO Capital Markets to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

Several other brokerages have also recently issued reports on TRVI. Weiss Ratings reissued a “sell (d-)” rating on shares of Trevi Therapeutics in a research note on Friday. Needham & Company LLC reiterated a “buy” rating and issued 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 issued a $19.00 target price on shares of Trevi Therapeutics in a report on Friday, April 17th. Wall Street Zen raised Trevi Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. Finally, HC Wainwright upped their price target on Trevi Therapeutics from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $24.91.

Trevi Therapeutics Stock Performance

Trevi Therapeutics stock opened at $18.18 on Monday. Trevi Therapeutics has a 1 year low of $6.55 and a 1 year high of $20.22. The firm has a 50 day moving average price of $15.96 and a 200 day moving average price of $13.40. The company has a market cap of $2.58 billion, a price-to-earnings ratio of -56.81 and a beta of 1.00.

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

Institutional Investors Weigh In On Trevi Therapeutics

A number of large investors have recently modified their holdings of the stock. AQR Capital Management LLC lifted its position in Trevi Therapeutics by 20.4% during the 1st quarter. AQR Capital Management LLC now owns 27,720 shares of the company’s stock worth $174,000 after acquiring an additional 4,688 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Trevi Therapeutics by 31.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,143 shares of the company’s stock worth $278,000 after acquiring an additional 10,445 shares during the period. Millennium Management LLC grew its position in Trevi Therapeutics by 356.3% in the first quarter. Millennium Management LLC now owns 823,249 shares of the company’s stock valued at $5,178,000 after acquiring an additional 642,830 shares in the last quarter. Strs Ohio acquired a new stake in Trevi Therapeutics in the first quarter valued at approximately $52,000. Finally, Creative Planning raised its stake in shares of Trevi Therapeutics by 17.5% during the second quarter. Creative Planning now owns 20,247 shares of the company’s stock valued at $111,000 after purchasing an additional 3,016 shares during the period. Institutional investors and hedge funds own 95.76% of the company’s stock.

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.