Trevi Therapeutics, Inc. (NASDAQ:TRVI) Receives Average Recommendation of “Buy” from Analysts

Shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI) have received an average recommendation of “Buy” from the thirteen research firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, ten have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $27.0833.

TRVI has been the topic of several research analyst reports. Oppenheimer raised their price objective on Trevi Therapeutics from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. JonesTrading boosted their target price on shares of Trevi Therapeutics from $24.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, August 14th. Needham & Company LLC reissued a “buy” rating and set a $23.00 target price on shares of Trevi Therapeutics in a report on Wednesday, May 20th. Cantor Fitzgerald raised their price target on shares of Trevi Therapeutics from $25.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Finally, Stifel Nicolaus set a $30.00 price target on shares of Trevi Therapeutics in a report on Friday, May 8th.

Trevi Therapeutics Price Performance

NASDAQ:TRVI opened at $16.60 on Tuesday. The firm has a 50-day moving average of $18.02 and a two-hundred day moving average of $14.83. The stock has a market cap of $2.37 billion, a P/E ratio of -48.82 and a beta of 1.03. Trevi Therapeutics has a 1-year low of $6.93 and a 1-year high of $20.22.

Trevi Therapeutics (NASDAQ:TRVI) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.11) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.11). As a group, equities analysts expect that Trevi Therapeutics will post -0.48 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of TRVI. BlackRock Inc. bought a new position in Trevi Therapeutics in the 2nd quarter worth approximately $208,041,000. Alliancebernstein L.P. raised its stake in Trevi Therapeutics by 19,064.5% during the 2nd quarter. Alliancebernstein L.P. now owns 4,281,355 shares of the company’s stock valued at $23,419,000 after acquiring an additional 4,259,015 shares in the last quarter. Rubric Capital Management LP raised its stake in Trevi Therapeutics by 88.0% during the 2nd quarter. Rubric Capital Management LP now owns 8,531,860 shares of the company’s stock valued at $46,669,000 after acquiring an additional 3,993,325 shares in the last quarter. Viking Global Investors LP boosted its position in Trevi Therapeutics by 232.4% during the 3rd quarter. Viking Global Investors LP now owns 5,128,875 shares of the company’s stock worth $46,929,000 after acquiring an additional 3,585,875 shares during the period. Finally, Wellington Management Group LLP boosted its position in Trevi Therapeutics by 1,792.0% during the 3rd quarter. Wellington Management Group LLP now owns 3,253,888 shares of the company’s stock worth $29,773,000 after acquiring an additional 3,081,906 shares during the period. Institutional investors own 95.76% of the company’s stock.

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.