Trevi Therapeutics (NASDAQ:TRVI) Stock Price Expected to Rise, Cantor Fitzgerald Analyst Says

Trevi Therapeutics (NASDAQ:TRVI) had its target price lifted by stock analysts at Cantor Fitzgerald from $25.00 to $30.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective points to a potential upside of 62.16% from the company’s current price.

Several other brokerages have also recently issued reports on TRVI. BMO Capital Markets started coverage on Trevi Therapeutics in a report on Monday, July 20th. They issued an “outperform” rating and a $36.00 target price on the stock. D. Boral Capital restated a “buy” rating and set a $19.00 price target on shares of Trevi Therapeutics in a report on Friday, April 17th. Wall Street Zen cut Trevi Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Stifel Nicolaus set a $30.00 target price on Trevi Therapeutics in a research report on Friday, May 8th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $20.00 target price on shares of Trevi Therapeutics in a report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $25.33.

Trevi Therapeutics Stock Down 0.8%

NASDAQ TRVI opened at $18.50 on Friday. Trevi Therapeutics has a 52 week low of $6.55 and a 52 week high of $20.22. The company has a market capitalization of $2.63 billion, a P/E ratio of -57.81 and a beta of 1.03. The stock’s 50-day moving average price is $16.88 and its 200-day moving average price is $13.97.

Trevi Therapeutics (NASDAQ:TRVI) last issued its earnings results on Thursday, August 6th. The company reported ($0.11) earnings per share for the quarter, hitting the consensus estimate of ($0.11). Research analysts anticipate that Trevi Therapeutics will post -0.47 EPS for the current year.

Institutional Investors Weigh In On Trevi Therapeutics

Several large investors have recently added to or reduced their stakes in TRVI. Persistent Asset Partners Ltd purchased a new stake in shares of Trevi Therapeutics during the 2nd quarter valued at $477,000. Flputnam Investment Management Co. acquired a new stake in Trevi Therapeutics during the 2nd quarter worth about $19,360,000. Bank of New York Mellon Corp acquired a new position in shares of Trevi Therapeutics in the 2nd quarter valued at $5,720,000. GSA Capital Partners LLP purchased a new position in Trevi Therapeutics during the second quarter worth approximately $233,000. Finally, Walleye Capital LLC purchased a new position in Trevi Therapeutics during the second quarter valued at $4,513,000. 95.76% of the stock is owned by hedge funds and other 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.