Trevi Therapeutics (NASDAQ:TRVI) Posts Quarterly Earnings Results, Hits Estimates

Trevi Therapeutics (NASDAQ:TRVI) released its quarterly earnings results on Monday. The company reported ($0.13) EPS for the quarter, meeting the consensus estimate of ($0.13), FiscalAI reports.

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

• IPF trials are underway: Trevi said OCEAN-1 and OCEAN-2 have received regulatory approvals in all participating countries and are progressing through site activation and enrollment. It maintained guidance for OCEAN-2 results in the second half of 2027 and OCEAN-1 results in the first half of 2028.
• FDA alignment advances the non-IPF ILD program: Trevi plans a roughly 120-patient, Phase II dose-ranging trial starting in Q1 2027, with top-line results expected in the first half of 2028. Management said the study is intended to inform dosing and could support a streamlined path to a single Phase III trial.
• LAKE trial results remain uncertain: An independent sample-size review is expected in early Q1 2027 after 50 patients complete the trial; it could recommend keeping the 100-patient enrollment, increasing it to as many as 152, or indicate futility. Trevi expects the full readout in the second half of 2027, including if enrollment is increased.
• Cash is expected to fund key clinical milestones: Trevi ended Q3 with approximately $299 million in cash, equivalents and marketable securities, and said its runway extends into 2030. Management said this covers the ongoing trials and non-IPF ILD Phase II study through data, but excludes RCC or non-IPF ILD Phase III trials and commercial launch costs.
• RCC competition has receded, but commercial questions remain: Management said there are no active competitors in its targeted chronic-cough indications and estimated about one million patients in the most refractory RCC segment. It said market sizing and potential commercial approaches remain under evaluation, and that plans will depend on the LAKE results.

Trevi Therapeutics Price Performance

NASDAQ:TRVI traded up $0.98 during trading hours on Monday, reaching $15.31. 1,442,650 shares of the company were exchanged, compared to its average volume of 1,799,392. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of -45.03 and a beta of 1.15. The stock has a 50 day simple moving average of $14.24 and a 200 day simple moving average of $14.41. Trevi Therapeutics has a 52-week low of $9.82 and a 52-week high of $20.22.

Insider Activity

In other news, Director Michael Heffernan sold 39,473 shares of the company’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $15.09, for a total transaction of $595,647.57. Following the completion of the sale, the director directly owned 6,351 shares in the company, valued at $95,836.59. This represents a 86.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 15.39% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

TRVI has been the subject of a number of recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Trevi Therapeutics in a research report on Thursday, October 15th. Morgan Stanley reaffirmed an “overweight” rating and issued a $23.00 price objective on shares of Trevi Therapeutics in a research report on Friday, August 7th. BMO Capital Markets reiterated an “outperform” rating on shares of Trevi Therapeutics in a research note on Wednesday, October 7th. HC Wainwright increased their target price on Trevi Therapeutics from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Finally, Wall Street Zen lowered Trevi Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $27.08.

Trevi Therapeutics Company Profile

Trevi Therapeutics, Inc is a clinical-stage biopharmaceutical company developing treatments for chronic cough and chronic itch. Its lead candidate, Haduvio (oral extended-release nalbuphine), is being studied for conditions including idiopathic pulmonary fibrosis, other interstitial lung diseases and chronic pruritus associated with prurigo nodularis.

Nalbuphine acts on opioid receptors, and Trevi is evaluating its potential to reduce these symptoms. The company’s development programs are focused on clinical research; Haduvio is not an approved treatment.

Trevi is headquartered in New Haven, Connecticut, and its operations are centered on developing its drug candidate.