Trevi Therapeutics (NASDAQ:TRVI) Shares Up 9.4% – What’s Next?

Shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI) rose 9.4% during mid-day trading on Wednesday . The company traded as high as $11.62 and last traded at $11.6350. Approximately 460,128 shares were traded during trading, a decline of 67% from the average daily volume of 1,396,249 shares. The stock had previously closed at $10.64.

Wall Street Analyst Weigh In

Several research firms have recently commented on TRVI. Morgan Stanley decreased their price objective on Trevi Therapeutics from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 18th. HC Wainwright reiterated a “buy” rating and set a $21.00 price objective on shares of Trevi Therapeutics in a research note on Monday, March 9th. D. Boral Capital reissued a “buy” rating and issued a $19.00 target price on shares of Trevi Therapeutics in a report on Wednesday, March 18th. Oppenheimer restated an “outperform” rating on shares of Trevi Therapeutics in a research note on Monday, March 9th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Trevi Therapeutics in a research report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $21.60.

Trevi Therapeutics Stock Performance

The firm has a market capitalization of $1.45 billion, a PE ratio of -35.06 and a beta of 0.94. The company has a fifty day moving average price of $11.10 and a 200-day moving average price of $11.05.

Trevi Therapeutics (NASDAQ:TRVI) last posted its earnings results on Tuesday, March 17th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. On average, equities analysts predict that Trevi Therapeutics, Inc. will post -0.49 earnings per share for the current year.

Institutional Trading of Trevi Therapeutics

A number of large investors have recently made changes to their positions in the business. Russell Investments Group Ltd. lifted its holdings in shares of Trevi Therapeutics by 194.5% in the 2nd 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. Hilton Head Capital Partners LLC bought a new stake in Trevi Therapeutics during the fourth quarter worth approximately $40,000. Caitong International Asset Management Co. Ltd purchased a new stake in Trevi Therapeutics during the fourth quarter valued at approximately $50,000. Strs Ohio bought a new stake in shares of Trevi Therapeutics in the 1st quarter valued at approximately $52,000. Finally, Rafferty Asset Management LLC bought a new stake in shares of Trevi Therapeutics in the 2nd quarter valued at approximately $60,000. 95.76% of the stock is currently owned by 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.