Trevi Therapeutics (NASDAQ:TRVI) Hits New 52-Week High – Time to Buy?

Shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI) reached a new 52-week high on Thursday . The stock traded as high as $14.43 and last traded at $14.37, with a volume of 227279 shares changing hands. The stock had previously closed at $14.27.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Needham & Company LLC increased their target price on Trevi Therapeutics from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, March 18th. HC Wainwright reissued a “buy” rating and issued a $21.00 target price on shares of Trevi Therapeutics in a report on Monday, March 9th. JonesTrading dropped their target price on Trevi Therapeutics from $25.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, March 19th. Stifel Nicolaus increased their target price on Trevi Therapeutics from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, December 19th. Finally, Morgan Stanley dropped their target price on Trevi Therapeutics from $19.00 to $18.00 and set an “overweight” rating for the company in a report on Wednesday, March 18th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Trevi Therapeutics currently has an average rating of “Buy” and an average price target of $21.60.

Trevi Therapeutics Stock Performance

The firm has a market capitalization of $1.88 billion, a P/E ratio of -45.81 and a beta of 0.99. The stock has a 50-day moving average of $11.68 and a 200 day moving average of $11.49.

Trevi Therapeutics (NASDAQ:TRVI) last released its quarterly earnings results on Tuesday, March 17th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04. On average, equities analysts predict that Trevi Therapeutics, Inc. will post -0.49 EPS for the current year.

Institutional Investors Weigh In On Trevi Therapeutics

A number of large investors have recently bought and sold shares of TRVI. Flputnam Investment Management Co. raised its stake in shares of Trevi Therapeutics by 1,105.4% in the 3rd quarter. Flputnam Investment Management Co. now owns 1,048,102 shares of the company’s stock valued at $9,590,000 after purchasing an additional 961,150 shares during the period. Peregrine Capital Management LLC acquired a new stake in shares of Trevi Therapeutics in the third quarter valued at about $5,677,000. Pivotal bioVenture Partners Investment Advisor LLC increased its position in shares of Trevi Therapeutics by 9.7% in the third quarter. Pivotal bioVenture Partners Investment Advisor LLC now owns 1,256,782 shares of the company’s stock valued at $11,500,000 after acquiring an additional 110,672 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Trevi Therapeutics by 93.0% in the fourth quarter. SG Americas Securities LLC now owns 124,562 shares of the company’s stock valued at $1,560,000 after acquiring an additional 60,017 shares during the last quarter. Finally, Nan Fung Trinity HK Ltd. acquired a new stake in shares of Trevi Therapeutics in the third quarter valued at about $820,000. 95.76% of the stock is currently owned by institutional investors.

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.