Trevi Therapeutics (NASDAQ:TRVI) Posts Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Trevi Therapeutics (NASDAQ:TRVI) issued its quarterly earnings data on Tuesday. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.02), FiscalAI reports.

Trevi Therapeutics Stock Performance

NASDAQ TRVI traded up $0.28 during trading hours on Tuesday, hitting $14.66. 1,018,650 shares of the company’s stock were exchanged, compared to its average volume of 1,491,424. The business’s 50 day moving average is $12.49 and its 200-day moving average is $11.87. Trevi Therapeutics has a 12-month low of $5.38 and a 12-month high of $16.12. The firm has a market capitalization of $1.89 billion, a P/E ratio of -45.81 and a beta of 1.07.

Hedge Funds Weigh In On Trevi Therapeutics

Several large investors have recently added to or reduced their stakes in the business. Rubric Capital Management LP lifted its position in Trevi Therapeutics by 88.0% during the second quarter. Rubric Capital Management LP now owns 8,531,860 shares of the company’s stock worth $46,669,000 after buying an additional 3,993,325 shares during the period. Vanguard Group Inc. lifted its position in Trevi Therapeutics by 9.6% during the third quarter. Vanguard Group Inc. now owns 5,826,986 shares of the company’s stock worth $53,317,000 after buying an additional 510,295 shares during the period. Viking Global Investors LP lifted its position in Trevi Therapeutics by 232.4% during the third quarter. Viking Global Investors LP now owns 5,128,875 shares of the company’s stock worth $46,929,000 after buying an additional 3,585,875 shares during the period. Vivo Capital LLC lifted its position in Trevi Therapeutics by 13.5% during the third quarter. Vivo Capital LLC now owns 5,094,668 shares of the company’s stock worth $46,616,000 after buying an additional 606,765 shares during the period. Finally, Marshall Wace LLP raised its holdings in shares of Trevi Therapeutics by 95.4% in the 3rd quarter. Marshall Wace LLP now owns 4,841,751 shares of the company’s stock worth $44,302,000 after purchasing an additional 2,363,835 shares during the period. 95.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TRVI has been the topic of several recent research reports. Needham & Company LLC upped their price objective on Trevi Therapeutics from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, March 18th. HC Wainwright restated a “buy” rating and issued a $21.00 price objective on shares of Trevi Therapeutics in a research report on Monday, March 9th. Morgan Stanley reduced their price objective on Trevi Therapeutics from $19.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 18th. JonesTrading reduced their price objective on Trevi Therapeutics from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday, March 19th. Finally, Oppenheimer restated an “outperform” rating on shares of Trevi Therapeutics in a research report on Monday, March 9th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $21.60.

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.