Trevi Therapeutics (NASDAQ:TRVI) Trading Up 5.6% – What’s Next?

Trevi Therapeutics, Inc. (NASDAQ:TRVI) shot up 5.6% during trading on Tuesday . The company traded as high as $18.87 and last traded at $18.9640. 929,713 shares were traded during mid-day trading, a decline of 42% from the average daily volume of 1,604,179 shares. The stock had previously closed at $17.95.

Analysts Set New Price Targets

TRVI has been the subject of several recent research reports. Morgan Stanley reiterated an “overweight” rating and set a $20.00 target price on shares of Trevi Therapeutics in a research note on Wednesday, May 6th. Oppenheimer restated an “outperform” rating on shares of Trevi Therapeutics in a research report on Monday, March 9th. Wall Street Zen raised Trevi Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. Stifel Nicolaus set a $30.00 price objective on Trevi Therapeutics in a research report on Friday, May 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Trevi Therapeutics in a research report on Monday, April 20th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Trevi Therapeutics has an average rating of “Buy” and a consensus target price of $22.67.

Trevi Therapeutics Stock Up 9.1%

The stock has a market capitalization of $2.78 billion, a PE ratio of -61.36 and a beta of 1.00. The firm’s fifty day moving average is $15.13 and its 200-day moving average is $12.99.

Trevi Therapeutics (NASDAQ:TRVI) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). On average, analysts expect that Trevi Therapeutics, Inc. will post -0.47 EPS for the current year.

Institutional Trading of Trevi Therapeutics

Institutional investors have recently modified their holdings of the business. AQR Capital Management LLC grew its holdings in Trevi Therapeutics by 20.4% during the first 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Trevi Therapeutics by 31.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,143 shares of the company’s stock valued at $278,000 after acquiring an additional 10,445 shares during the period. Millennium Management LLC boosted its position in shares of Trevi Therapeutics by 356.3% during the 1st quarter. Millennium Management LLC now owns 823,249 shares of the company’s stock worth $5,178,000 after purchasing an additional 642,830 shares in the last quarter. Strs Ohio purchased a new stake in shares of Trevi Therapeutics during the 1st quarter worth $52,000. Finally, Creative Planning grew 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 period. 95.76% of the stock is currently owned by hedge funds and other 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.