Trevi Therapeutics (NASDAQ:TRVI) Upgraded by BMO Capital Markets to Strong-Buy Rating

BMO Capital Markets upgraded shares of Trevi Therapeutics (NASDAQ:TRVI) to a strong-buy rating in a research note published on Monday,Zacks.com reports.

Several other research analysts have also commented on the company. B. Riley Financial boosted their price objective on Trevi Therapeutics from $21.00 to $31.00 and gave the stock a “buy” rating in a report on Monday. HC Wainwright lifted their target price on shares of Trevi Therapeutics from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Monday. Needham & Company LLC reissued a “buy” rating and issued a $23.00 price target on shares of Trevi Therapeutics in a research note on Wednesday, May 20th. D. Boral Capital reissued a “buy” rating and issued a $19.00 price target on shares of Trevi Therapeutics in a report on Friday, April 17th. Finally, Stifel Nicolaus set a $30.00 price target on shares of Trevi Therapeutics in a report on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $24.91.

Trevi Therapeutics Stock Performance

NASDAQ:TRVI opened at $18.18 on Monday. Trevi Therapeutics has a 52-week low of $6.55 and a 52-week high of $20.22. The stock has a fifty day moving average of $15.96 and a 200 day moving average of $13.40. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of -56.81 and a beta of 1.00.

Trevi Therapeutics (NASDAQ:TRVI) last announced its earnings results on Tuesday, May 5th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). Equities analysts forecast that Trevi Therapeutics will post -0.47 earnings per share for the current fiscal year.

Institutional Trading of Trevi Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Hilton Head Capital Partners LLC raised its stake in shares of Trevi Therapeutics by 32.6% during the first quarter. Hilton Head Capital Partners LLC now owns 4,250 shares of the company’s stock valued at $51,000 after acquiring an additional 1,044 shares during the last quarter. AlphaCentric Advisors LLC grew its stake in shares of Trevi Therapeutics by 5.7% in the first quarter. AlphaCentric Advisors LLC now owns 23,970 shares of the company’s stock worth $286,000 after purchasing an additional 1,303 shares during the last quarter. Kennedy Capital Management LLC grew its stake in shares of Trevi Therapeutics by 2.4% in the fourth quarter. Kennedy Capital Management LLC now owns 56,269 shares of the company’s stock worth $704,000 after purchasing an additional 1,336 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Trevi Therapeutics by 32.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,231 shares of the company’s stock valued at $78,000 after purchasing an additional 1,523 shares during the period. Finally, Oppenheimer & Co. Inc. increased its holdings in Trevi Therapeutics by 2.1% during the 4th quarter. Oppenheimer & Co. Inc. now owns 100,698 shares of the company’s stock valued at $1,261,000 after purchasing an additional 2,030 shares during the period. 95.76% of the stock is currently 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.