Trevi Therapeutics (NASDAQ:TRVI) Price Target Lowered to $24.00 at Needham & Company LLC

Trevi Therapeutics (NASDAQ:TRVI) had its price objective reduced by Needham & Company LLC from $25.00 to $24.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

TRVI has been the topic of several other reports. Raymond James raised shares of Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and raised their price objective for the stock from $9.00 to $29.00 in a research report on Monday, March 10th. HC Wainwright raised their price target on Trevi Therapeutics from $7.50 to $12.50 and gave the stock a “buy” rating in a report on Monday, March 10th. Oppenheimer upped their price objective on Trevi Therapeutics from $12.00 to $20.00 and gave the company an “outperform” rating in a research note on Tuesday, March 11th. Finally, D. Boral Capital reiterated a “buy” rating and issued a $21.00 target price on shares of Trevi Therapeutics in a research note on Friday, March 7th. Seven research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Trevi Therapeutics has a consensus rating of “Buy” and a consensus price target of $17.56.

Trevi Therapeutics Stock Up 3.8 %

Shares of NASDAQ TRVI opened at $6.81 on Wednesday. The business has a 50-day moving average price of $4.50 and a 200 day moving average price of $3.71. The stock has a market cap of $523.46 million, a PE ratio of -15.48 and a beta of 0.90. Trevi Therapeutics has a 52-week low of $2.30 and a 52-week high of $7.39.

Trevi Therapeutics (NASDAQ:TRVI) last posted its quarterly earnings data on Tuesday, March 18th. The company reported ($0.11) earnings per share 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 year.

Insider Transactions at Trevi Therapeutics

In other news, insider Farrell Simon sold 81,313 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $6.75, for a total transaction of $548,862.75. Following the transaction, the insider now directly owns 76,900 shares of the company’s stock, valued at $519,075. This represents a 51.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 24.37% of the company’s stock.

Institutional Trading of Trevi Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP acquired a new stake in shares of Trevi Therapeutics during the 3rd quarter valued at approximately $409,000. Oppenheimer & Co. Inc. boosted its position in Trevi Therapeutics by 34.7% during the third quarter. Oppenheimer & Co. Inc. now owns 81,947 shares of the company’s stock worth $274,000 after purchasing an additional 21,128 shares in the last quarter. MAI Capital Management grew its holdings in Trevi Therapeutics by 0.7% in the third quarter. MAI Capital Management now owns 1,327,285 shares of the company’s stock valued at $4,433,000 after purchasing an additional 8,789 shares during the last quarter. Intech Investment Management LLC purchased a new position in shares of Trevi Therapeutics in the third quarter valued at $63,000. Finally, BNP Paribas Financial Markets increased its position in shares of Trevi Therapeutics by 130.9% in the third quarter. BNP Paribas Financial Markets now owns 11,930 shares of the company’s stock valued at $40,000 after buying an additional 6,764 shares in the last quarter. Hedge funds and other institutional investors own 95.76% of the company’s stock.

About Trevi Therapeutics

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.