Trevi Therapeutics, Inc. (NASDAQ:TRVI) Given Average Rating of “Buy” by Analysts

Shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI) have been assigned a consensus rating of “Buy” from the thirteen analysts that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, ten have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $27.0833.

A number of equities research analysts have commented on the company. Wall Street Zen cut Trevi Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Trevi Therapeutics in a report on Friday, July 17th. 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. Raymond James Financial reissued a “strong-buy” rating and issued a $40.00 price target on shares of Trevi Therapeutics in a research report on Friday, August 7th. Finally, BMO Capital Markets initiated coverage on shares of Trevi Therapeutics in a research note on Monday, July 20th. They set an “outperform” rating and a $36.00 price target for the company.

Trevi Therapeutics Price Performance

Shares of TRVI opened at $18.08 on Tuesday. The stock has a 50-day moving average of $17.96 and a 200-day moving average of $14.61. The company has a market cap of $2.58 billion, a PE ratio of -53.18 and a beta of 1.03. Trevi Therapeutics has a one year low of $6.93 and a one year high of $20.22.

Trevi Therapeutics (NASDAQ:TRVI) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.11) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.11). Analysts expect that Trevi Therapeutics will post -0.48 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in shares of Trevi Therapeutics in the 2nd quarter worth about $208,041,000. Rubric Capital Management LP lifted its position in Trevi Therapeutics by 88.0% in the 2nd quarter. Rubric Capital Management LP now owns 8,531,860 shares of the company’s stock valued at $46,669,000 after acquiring an additional 3,993,325 shares in the last quarter. Vanguard Group Inc. lifted its position in Trevi Therapeutics by 10.4% in the 4th quarter. Vanguard Group Inc. now owns 6,434,655 shares of the company’s stock valued at $80,562,000 after acquiring an additional 607,669 shares in the last quarter. Wellington Management Group LLP boosted its stake in Trevi Therapeutics by 9.5% during the 2nd quarter. Wellington Management Group LLP now owns 5,684,592 shares of the company’s stock valued at $106,018,000 after purchasing an additional 495,504 shares during the last quarter. Finally, Viking Global Investors LP boosted its stake in Trevi Therapeutics by 232.4% during the 3rd quarter. Viking Global Investors LP now owns 5,128,875 shares of the company’s stock valued at $46,929,000 after purchasing an additional 3,585,875 shares during the last quarter. 95.76% of the stock is currently owned by institutional investors and hedge funds.

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.