Trevi Therapeutics, Inc. (NASDAQ:TRVI) Stock Has Consensus Price Target of $27.08 According to Analysts

Shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI) have been given a consensus recommendation of “Moderate Buy” by the thirteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, eleven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $27.08.

A number of research firms have issued reports on TRVI. Weiss Ratings reissued a “sell (d-)” rating on shares of Trevi Therapeutics in a research report on Thursday, October 15th. JonesTrading lifted their price objective on shares of Trevi Therapeutics from $24.00 to $28.00 and gave the company a “buy” rating in a report on Friday, August 14th. Wall Street Zen downgraded shares of Trevi Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Cantor Fitzgerald upped their price objective on shares of Trevi Therapeutics from $25.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Finally, HC Wainwright increased their target price on shares of Trevi Therapeutics from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday, July 20th.

Trevi Therapeutics Stock Performance

TRVI stock opened at $14.33 on Friday. Trevi Therapeutics has a one year low of $9.82 and a one year high of $20.22. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of -42.15 and a beta of 1.15. The firm has a 50-day simple moving average of $14.27 and a two-hundred day simple moving average of $14.39.

Trevi Therapeutics (NASDAQ:TRVI) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.11) EPS for the quarter, meeting the consensus estimate of ($0.11). As a group, equities analysts predict that Trevi Therapeutics will post -0.48 earnings per share for the current fiscal year.

Insider Activity at Trevi Therapeutics

In other news, Director Michael Heffernan sold 39,473 shares of the stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $15.09, for a total value of $595,647.57. Following the completion of the sale, the director directly owned 6,351 shares in the company, valued at $95,836.59. This represents a 86.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 15.39% of the company’s stock.

Institutional Trading of Trevi Therapeutics

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Trevi Therapeutics during the 2nd quarter worth about $208,041,000. Artia Global Partners LP purchased a new stake in shares of Trevi Therapeutics in the 2nd quarter valued at approximately $41,232,000. First Light Asset Management LLC purchased a new position in Trevi Therapeutics in the second quarter valued at $39,113,000. Assenagon Asset Management S.A. raised its position in shares of Trevi Therapeutics by 131.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,527,035 shares of the company’s stock worth $50,507,000 after acquiring an additional 2,001,721 shares in the last quarter. Finally, Bank of America Corp DE purchased a new stake in shares of Trevi Therapeutics during the 2nd quarter worth approximately $28,588,000. Hedge funds and other institutional investors own 95.76% of the company’s stock.

About Trevi Therapeutics

Trevi Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for chronic conditions that have limited therapeutic options. The company’s lead product candidate is Haduvio, an oral extended-release formulation of nalbuphine, an opioid receptor modulator designed to combine kappa-opioid receptor agonism with mu-opioid receptor antagonism.

Trevi is evaluating Haduvio in conditions involving chronic cough and severe itching. Its clinical development programs have included studies in chronic cough associated with idiopathic pulmonary fibrosis, a progressive lung disease, and chronic pruritus associated with systemic sclerosis, an autoimmune connective-tissue disorder.