Trevi Therapeutics (NASDAQ:TRVI) Sets New 12-Month High – Time to Buy?

Trevi Therapeutics, Inc. (NASDAQ:TRVI)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $11.87 and last traded at $11.83, with a volume of 875721 shares changing hands. The stock had previously closed at $11.01.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TRVI. Morgan Stanley assumed coverage on Trevi Therapeutics in a research report on Thursday, August 21st. They issued an “overweight” rating and a $18.00 target price for the company. Needham & Company LLC reduced their price target on shares of Trevi Therapeutics from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, August 8th. Raymond James Financial decreased their price objective on shares of Trevi Therapeutics from $29.00 to $27.00 and set a “strong-buy” rating for the company in a report on Friday, August 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Trevi Therapeutics in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $21.75.

Trevi Therapeutics Stock Performance

The company’s 50-day moving average price is $9.45 and its 200 day moving average price is $7.66. The stock has a market cap of $1.42 billion, a PE ratio of -27.79 and a beta of 0.67.

Trevi Therapeutics (NASDAQ:TRVI) last announced its earnings results on Thursday, August 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.01. On average, sell-side analysts anticipate that Trevi Therapeutics, Inc. will post -0.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Trevi Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its position in Trevi Therapeutics by 18.4% during the first quarter. Bank of New York Mellon Corp now owns 166,076 shares of the company’s stock valued at $1,045,000 after purchasing an additional 25,857 shares in the last quarter. BIT Capital GmbH bought a new position in shares of Trevi Therapeutics in the first quarter worth about $264,000. Vanguard Group Inc. lifted its position in shares of Trevi Therapeutics by 9.4% during the 1st quarter. Vanguard Group Inc. now owns 3,838,032 shares of the company’s stock valued at $24,141,000 after buying an additional 328,819 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Trevi Therapeutics by 19.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 207,518 shares of the company’s stock valued at $1,305,000 after acquiring an additional 34,455 shares during the period. Finally, Deutsche Bank AG increased its holdings in Trevi Therapeutics by 28.7% in the 1st quarter. Deutsche Bank AG now owns 37,626 shares of the company’s stock worth $237,000 after acquiring an additional 8,383 shares in the last quarter. 95.76% of the stock is currently owned by hedge funds and other institutional investors.

Trevi Therapeutics Company Profile

Trevi Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapy Haduvio for the treatment of chronic cough in idiopathic pulmonary fibrosis (IPF) and refractory chronic cough (RCC) conditions targeting the central and peripheral nervous systems.