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

Trevi Therapeutics, Inc. (NASDAQ:TRVI) has earned a consensus recommendation of “Buy” from the twelve brokerages that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, nine have assigned a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $22.90.

A number of research firms recently issued reports on TRVI. Needham & Company LLC reduced their price objective on Trevi Therapeutics from $24.00 to $23.00 and set a “buy” rating for the company in a research report on Wednesday, May 6th. HC Wainwright reissued a “buy” rating and set a $21.00 price objective on shares of Trevi Therapeutics in a research report on Wednesday, May 6th. D. Boral Capital reissued a “buy” rating and set a $19.00 price objective on shares of Trevi Therapeutics in a research report on Friday, April 17th. Oppenheimer reissued an “outperform” rating on shares of Trevi Therapeutics in a research report on Monday, March 9th. Finally, JonesTrading reduced their price objective on Trevi Therapeutics from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Thursday, March 19th.

Institutional Trading of Trevi Therapeutics

A number of institutional investors have recently bought and sold shares of TRVI. Alliancebernstein L.P. boosted its position in Trevi Therapeutics by 19,064.5% during the second quarter. Alliancebernstein L.P. now owns 4,281,355 shares of the company’s stock valued at $23,419,000 after purchasing an additional 4,259,015 shares during the last quarter. Rubric Capital Management LP boosted its position in Trevi Therapeutics by 88.0% during the second quarter. Rubric Capital Management LP now owns 8,531,860 shares of the company’s stock valued at $46,669,000 after purchasing an additional 3,993,325 shares during the last quarter. Viking Global Investors LP boosted its position in Trevi Therapeutics by 232.4% during the third quarter. Viking Global Investors LP now owns 5,128,875 shares of the company’s stock valued at $46,929,000 after purchasing an additional 3,585,875 shares during the last quarter. Wellington Management Group LLP boosted its position in Trevi Therapeutics by 1,792.0% during the third quarter. Wellington Management Group LLP now owns 3,253,888 shares of the company’s stock valued at $29,773,000 after purchasing an additional 3,081,906 shares during the last quarter. Finally, Marshall Wace LLP boosted its position in Trevi Therapeutics by 95.4% during the third quarter. Marshall Wace LLP now owns 4,841,751 shares of the company’s stock valued at $44,302,000 after purchasing an additional 2,363,835 shares during the last quarter. Institutional investors and hedge funds own 95.76% of the company’s stock.

Trevi Therapeutics Stock Down 5.8%

Shares of Trevi Therapeutics stock opened at $14.20 on Friday. The stock has a market cap of $2.02 billion, a PE ratio of -44.38 and a beta of 1.07. The business has a fifty day simple moving average of $13.01 and a 200-day simple moving average of $12.11. Trevi Therapeutics has a 12 month low of $5.38 and a 12 month high of $16.12.

Trevi Therapeutics (NASDAQ:TRVI) last issued its earnings results on Tuesday, May 5th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.02). Analysts expect that Trevi Therapeutics will post -0.45 EPS for the current fiscal year.

About Trevi Therapeutics

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.