Trevi Therapeutics (NASDAQ:TRVI) Issues Earnings Results

Trevi Therapeutics (NASDAQ:TRVI) issued its earnings results on Thursday. The company reported ($0.11) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.11), FiscalAI reports.

Here are the key takeaways from Trevi Therapeutics’ conference call:

• Clinical programs remain on track: Trevi initiated the OCEAN-1 Phase III IPF-related chronic cough trial and LAKE-2b Phase II trial in refractory chronic cough during Q2, with OCEAN-2 planned for Q3. The company expects 50% enrollment in LAKE-2b during the second half of 2026.
• Trevi ended Q2 with approximately $319 million in cash, cash equivalents, and marketable securities and reiterated its cash runway into 2030, including funding for IPF development through potential approval, non-IPF ILD development through Phase III, and pre-commercial activities.
• The company views the termination of a competing refractory chronic cough program as improving its competitive position, potentially making Trevi the leading or only active developer across its three target cough indications. Management continues to estimate roughly 1 million U.S. treatment-resistant RCC patients as its initial commercial opportunity.
• Trevi is seeking FDA alignment on a non-IPF ILD-related chronic cough program and expects to learn this month whether an agency meeting has been granted. Management expects the eventual protocol to closely resemble the IPF program, but the regulatory path and number of required studies remain unresolved.
• The LAKE trial’s Q4 2026 sample-size re-estimation could require an increase of up to 50% if conditional power is below the company’s 80% threshold, potentially adding patients and affecting timelines, although management characterized this as a statistical adjustment rather than a sign of efficacy concerns.

Trevi Therapeutics Stock Up 0.1%

NASDAQ TRVI traded up $0.01 on Friday, reaching $18.51. The company had a trading volume of 2,175,078 shares, compared to its average volume of 1,744,671. The company’s fifty day moving average is $16.88 and its 200 day moving average is $13.97. The stock has a market capitalization of $2.63 billion, a P/E ratio of -57.84 and a beta of 1.03. Trevi Therapeutics has a 52-week low of $6.55 and a 52-week high of $20.22.

Wall Street Analyst Weigh In

TRVI has been the subject of several recent analyst reports. HC Wainwright raised their price objective on shares of Trevi Therapeutics from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Cantor Fitzgerald boosted their target price on shares of Trevi Therapeutics from $25.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday. BMO Capital Markets began coverage on shares of Trevi Therapeutics in a research note on Monday, July 20th. They set an “outperform” rating and a $36.00 target price on the stock. Morgan Stanley restated an “overweight” rating and issued a $23.00 price target on shares of Trevi Therapeutics in a report on Friday. Finally, Stifel Nicolaus set a $30.00 price target on shares of Trevi Therapeutics in a research note on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $26.75.

Hedge Funds Weigh In On Trevi Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Rubric Capital Management LP increased its position in shares of 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 acquiring an additional 3,993,325 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Trevi Therapeutics by 9.6% during the 3rd quarter. Vanguard Group Inc. now owns 5,826,986 shares of the company’s stock worth $53,317,000 after purchasing an additional 510,295 shares during the period. Viking Global Investors LP boosted its holdings in shares of Trevi Therapeutics by 232.4% in the 3rd quarter. Viking Global Investors LP now owns 5,128,875 shares of the company’s stock worth $46,929,000 after buying an additional 3,585,875 shares during the last quarter. Vivo Capital LLC boosted its holdings in shares of Trevi Therapeutics by 13.5% in the 3rd quarter. Vivo Capital LLC now owns 5,094,668 shares of the company’s stock worth $46,616,000 after buying an additional 606,765 shares during the last quarter. Finally, Marshall Wace LLP grew 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 buying an additional 2,363,835 shares during the period. Hedge funds and other 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.