Trevi Therapeutics (NASDAQ:TRVI) Price Target Raised to $24.00

Trevi Therapeutics (NASDAQ:TRVI) had its target price boosted by HC Wainwright from $21.00 to $24.00 in a research report sent to investors on Monday morning, Marketbeat.com reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts also recently commented on TRVI. Stifel Nicolaus set a $30.00 price target on Trevi Therapeutics in a report on Friday, May 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Trevi Therapeutics in a report on Friday, July 17th. Morgan Stanley reissued an “overweight” rating and issued a $20.00 price objective on shares of Trevi Therapeutics in a research report on Wednesday, May 6th. Wall Street Zen raised shares of Trevi Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. Finally, Needham & Company LLC restated a “buy” rating and set a $23.00 price target on shares of Trevi Therapeutics in a research note on Wednesday, May 20th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Trevi Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $24.91.

Trevi Therapeutics Price Performance

NASDAQ TRVI opened at $17.36 on Monday. Trevi Therapeutics has a fifty-two week low of $6.55 and a fifty-two week high of $20.22. The stock’s 50-day moving average is $16.00 and its two-hundred day moving average is $13.43. The firm has a market cap of $2.46 billion, a P/E ratio of -54.25 and a beta of 1.00.

Trevi Therapeutics (NASDAQ:TRVI) last released its quarterly 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, equities analysts expect that Trevi Therapeutics will post -0.47 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Nan Fung Trinity HK Ltd. grew its position in Trevi Therapeutics by 924.2% in the fourth quarter. Nan Fung Trinity HK Ltd. now owns 917,450 shares of the company’s stock valued at $11,486,000 after acquiring an additional 827,875 shares during the period. F m Investments LLC acquired a new position in Trevi Therapeutics during the fourth quarter worth $3,023,000. Pictet Asset Management Holding SA lifted its holdings in shares of Trevi Therapeutics by 13,507.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,532,013 shares of the company’s stock valued at $19,181,000 after acquiring an additional 1,520,754 shares during the period. Candriam S.C.A. bought a new position in shares of Trevi Therapeutics during the first quarter valued at $9,229,000. Finally, Comerica Bank boosted its stake in shares of Trevi Therapeutics by 19,481.8% in the 4th quarter. Comerica Bank now owns 83,027 shares of the company’s stock valued at $1,039,000 after purchasing an additional 82,603 shares in the last quarter. 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.