Trevi Therapeutics’ (TRVI) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Trevi Therapeutics (NASDAQ:TRVI) in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a $12.50 target price on the stock.

Other analysts have also issued reports about the company. Needham & Company LLC lowered their target price on Trevi Therapeutics from $25.00 to $24.00 and set a “buy” rating on the stock in a research note on Wednesday. D. Boral Capital reiterated a “buy” rating and issued a $21.00 price target on shares of Trevi Therapeutics in a research report on Wednesday. Oppenheimer lifted their price target on Trevi Therapeutics from $12.00 to $20.00 and gave the company an “outperform” rating in a research report on Tuesday, March 11th. Finally, Raymond James upgraded Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and lifted their price target for the company from $9.00 to $29.00 in a research report on Monday, March 10th. Seven analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $17.56.

Trevi Therapeutics Price Performance

Shares of TRVI opened at $6.81 on Wednesday. The firm has a market cap of $523.46 million, a PE ratio of -15.48 and a beta of 0.90. The stock’s fifty day moving average price is $4.50 and its two-hundred day moving average price is $3.71. Trevi Therapeutics has a 1 year low of $2.30 and a 1 year high of $7.39.

Trevi Therapeutics (NASDAQ:TRVI) last issued its earnings results on Tuesday, March 18th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.01. Sell-side analysts anticipate that Trevi Therapeutics will post -0.49 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Farrell Simon sold 81,313 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $6.75, for a total value of $548,862.75. Following the completion of the transaction, the insider now directly owns 76,900 shares in the company, valued at approximately $519,075. This represents a 51.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 24.37% of the stock is owned by company insiders.

Hedge Funds Weigh In On Trevi Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in shares of Trevi Therapeutics by 220.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 100,517 shares of the company’s stock worth $336,000 after purchasing an additional 69,167 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Trevi Therapeutics by 10.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,264,166 shares of the company’s stock worth $4,223,000 after purchasing an additional 117,418 shares in the last quarter. Barclays PLC boosted its holdings in shares of Trevi Therapeutics by 180.8% in the 3rd quarter. Barclays PLC now owns 95,232 shares of the company’s stock worth $319,000 after purchasing an additional 61,317 shares in the last quarter. State Street Corp boosted its holdings in shares of Trevi Therapeutics by 5.9% in the 3rd quarter. State Street Corp now owns 952,912 shares of the company’s stock worth $3,183,000 after purchasing an additional 53,051 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Trevi Therapeutics by 130.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,930 shares of the company’s stock worth $40,000 after purchasing an additional 6,764 shares in the last quarter. 95.76% of the stock is currently owned by hedge funds and other institutional investors.

Trevi Therapeutics Company Profile

Trevi Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapy Haduvio for the treatment of chronic cough in idiopathic pulmonary fibrosis (IPF) and refractory chronic cough (RCC) conditions targeting the central and peripheral nervous systems.