Trevi Therapeutics (NASDAQ:TRVI) Price Target Raised to $25.00

Trevi Therapeutics (NASDAQ:TRVI) had its target price raised by Needham & Company LLC from $8.00 to $25.00 in a report issued on Monday morning, MarketBeat.com reports. Needham & Company LLC currently has a buy rating on the stock.

TRVI has been the topic of a number of other research reports. HC Wainwright raised their price target on shares of Trevi Therapeutics from $6.00 to $7.50 and gave the company a “buy” rating in a report on Thursday, December 12th. D. Boral Capital reaffirmed a “buy” rating and set a $21.00 price target on shares of Trevi Therapeutics in a report on Friday, March 7th. Seven research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $15.94.

Trevi Therapeutics Price Performance

Shares of NASDAQ TRVI opened at $6.30 on Monday. The firm’s 50-day moving average price is $4.26 and its 200-day moving average price is $3.58. The company has a market cap of $484.26 million, a PE ratio of -14.32 and a beta of 0.90. Trevi Therapeutics has a 52-week low of $2.30 and a 52-week high of $7.39.

Insider Buying and Selling

In other Trevi Therapeutics news, insider Farrell Simon sold 81,313 shares of Trevi Therapeutics stock in a transaction that occurred 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 owns 76,900 shares of the company’s stock, valued at $519,075. The trade was a 51.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 24.37% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Trevi Therapeutics

Several large investors have recently added to or reduced their stakes in TRVI. Point72 Asset Management L.P. purchased a new position in Trevi Therapeutics during the fourth quarter valued at approximately $17,099,000. Frazier Life Sciences Management L.P. lifted its holdings in Trevi Therapeutics by 44.5% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 10,664,774 shares of the company’s stock valued at $43,939,000 after purchasing an additional 3,283,684 shares in the last quarter. Woodline Partners LP lifted its holdings in Trevi Therapeutics by 429.9% during the fourth quarter. Woodline Partners LP now owns 3,212,597 shares of the company’s stock valued at $13,236,000 after purchasing an additional 2,606,370 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new position in Trevi Therapeutics during the fourth quarter valued at approximately $10,300,000. Finally, Acorn Capital Advisors LLC purchased a new position in Trevi Therapeutics during the fourth quarter valued at approximately $8,244,000. Hedge funds and other institutional investors own 95.76% of the company’s stock.

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.