Trevi Therapeutics (NASDAQ:TRVI) Releases Earnings Results, Meets Expectations

Trevi Therapeutics (NASDAQ:TRVI) posted its quarterly earnings data on Thursday. The company reported ($0.11) EPS for the quarter, hitting the consensus estimate of ($0.11), FiscalAI reports.

Here are the key takeaways from Trevi Therapeutics’ conference call:

• Clinical programs remain on track: Trevi initiated the OCEAN-1 Phase III IPF-related chronic cough trial and LAKE-2b Phase II trial in refractory chronic cough during Q2, with OCEAN-2 planned for Q3. The company expects 50% enrollment in LAKE-2b during the second half of 2026.
• Trevi ended Q2 with approximately $319 million in cash, cash equivalents, and marketable securities and reiterated its cash runway into 2030, including funding for IPF development through potential approval, non-IPF ILD development through Phase III, and pre-commercial activities.
• The company views the termination of a competing refractory chronic cough program as improving its competitive position, potentially making Trevi the leading or only active developer across its three target cough indications. Management continues to estimate roughly 1 million U.S. treatment-resistant RCC patients as its initial commercial opportunity.
• Trevi is seeking FDA alignment on a non-IPF ILD-related chronic cough program and expects to learn this month whether an agency meeting has been granted. Management expects the eventual protocol to closely resemble the IPF program, but the regulatory path and number of required studies remain unresolved.
• The LAKE trial’s Q4 2026 sample-size re-estimation could require an increase of up to 50% if conditional power is below the company’s 80% threshold, potentially adding patients and affecting timelines, although management characterized this as a statistical adjustment rather than a sign of efficacy concerns.

Trevi Therapeutics Stock Up 0.1%

Trevi Therapeutics stock opened at $18.51 on Friday. The firm’s fifty day moving average is $16.97 and its 200 day moving average is $14.00. Trevi Therapeutics has a 52-week low of $6.55 and a 52-week high of $20.22. The company has a market cap of $2.63 billion, a price-to-earnings ratio of -54.44 and a beta of 1.03.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on TRVI shares. BMO Capital Markets initiated coverage on Trevi Therapeutics in a research note on Monday, July 20th. They issued an “outperform” rating and a $36.00 price objective for the company. D. Boral Capital reiterated a “buy” rating and set a $19.00 price objective on shares of Trevi Therapeutics in a research report on Friday, April 17th. Cantor Fitzgerald upped their target price on shares of Trevi Therapeutics from $25.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday. B. Riley Financial lifted their price target on shares of Trevi Therapeutics from $21.00 to $31.00 and gave the company a “buy” rating in a report on Monday, July 20th. Finally, HC Wainwright increased their price objective on shares of Trevi Therapeutics from $21.00 to $24.00 and gave the company a “buy” rating in a report on Monday, July 20th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Trevi Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $26.75.

Hedge Funds Weigh In On Trevi Therapeutics

A number of large investors have recently bought and sold shares of the business. Russell Investments Group Ltd. boosted its position in Trevi Therapeutics by 194.5% during the 2nd 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 in the last quarter. Strs Ohio bought a new position in shares of Trevi Therapeutics in the 1st quarter worth $52,000. Rafferty Asset Management LLC bought a new position in shares of Trevi Therapeutics in the 2nd quarter worth $60,000. Creative Planning lifted its stake in shares of Trevi Therapeutics by 17.5% during the 2nd quarter. Creative Planning now owns 20,247 shares of the company’s stock worth $111,000 after purchasing an additional 3,016 shares during the last quarter. Finally, Abel Hall LLC purchased a new stake in shares of Trevi Therapeutics during the 4th quarter worth $128,000. Institutional investors own 95.76% of the company’s stock.

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.