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

Shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI) hit a new 52-week high during trading on Tuesday . The stock traded as high as $18.11 and last traded at $17.71, with a volume of 2460685 shares. The stock had previously closed at $17.21.

Analyst Upgrades and Downgrades

TRVI has been the topic of a number of recent research reports. Morgan Stanley reiterated an “overweight” rating and set a $20.00 price target on shares of Trevi Therapeutics in a research note on Wednesday, May 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 price objective on shares of Trevi Therapeutics in a report on Wednesday, May 20th. HC Wainwright reiterated a “buy” rating and set a $21.00 target price on shares of Trevi Therapeutics in a research report on Wednesday, May 6th. Stifel Nicolaus set a $30.00 target price on shares of Trevi Therapeutics in a research note on Friday, May 8th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Trevi Therapeutics in a research report on Monday, April 20th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $22.90.

Trevi Therapeutics Price Performance

The firm has a 50 day simple moving average of $14.41 and a 200-day simple moving average of $12.65. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of -55.34 and a beta of 1.04.

Trevi Therapeutics (NASDAQ:TRVI) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). On average, sell-side analysts forecast that Trevi Therapeutics, Inc. will post -0.47 earnings per share for the current fiscal year.

Institutional Trading of Trevi Therapeutics

Several large investors have recently added to or reduced their stakes in TRVI. Russell Investments Group Ltd. raised its stake in shares of Trevi Therapeutics by 194.5% in the second quarter. Russell Investments Group Ltd. now owns 4,536 shares of the company’s stock valued at $25,000 after acquiring an additional 2,996 shares during the last quarter. KBC Group NV acquired a new position in shares of Trevi Therapeutics in the 1st quarter worth approximately $29,000. Hilton Head Capital Partners LLC bought a new stake in Trevi Therapeutics during the 4th quarter worth approximately $40,000. Caitong International Asset Management Co. Ltd bought a new stake in Trevi Therapeutics during the 4th quarter worth approximately $50,000. Finally, Strs Ohio acquired a new stake in Trevi Therapeutics during the 1st quarter valued at $52,000. 95.76% of the stock is owned by institutional investors.

About Trevi Therapeutics

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.