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

Trevi Therapeutics, Inc. (NASDAQ:TRVI) has earned a consensus recommendation of “Buy” from the ten research firms that are covering the firm, Marketbeat.com reports. Seven analysts have rated the stock with a buy recommendation and three have assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $17.56.

A number of research firms recently commented on TRVI. Oppenheimer lifted their price target on Trevi Therapeutics from $12.00 to $20.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 11th. Raymond James upgraded Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and lifted their target price for the stock from $9.00 to $29.00 in a research report on Monday, March 10th. HC Wainwright reissued a “buy” rating and set a $12.50 price target on shares of Trevi Therapeutics in a research report on Wednesday, March 19th. B. Riley restated a “buy” rating and set a $20.00 price objective (up from $11.00) on shares of Trevi Therapeutics in a research note on Wednesday, March 19th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $24.00 price objective on shares of Trevi Therapeutics in a report on Tuesday, April 8th.

Trevi Therapeutics Trading Down 3.7%

NASDAQ TRVI opened at $6.45 on Wednesday. The stock has a market cap of $644.31 million, a P/E ratio of -14.66 and a beta of 0.62. The company’s fifty day simple moving average is $6.24 and its 200-day simple moving average is $4.58. Trevi Therapeutics has a 52 week low of $2.30 and a 52 week high of $7.39.

Trevi Therapeutics (NASDAQ:TRVI) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.04. On average, research analysts expect that Trevi Therapeutics will post -0.49 EPS for the current fiscal year.

Insider Activity

In related news, CEO Jennifer L. Good sold 5,263 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $6.58, for a total transaction of $34,630.54. Following the completion of the sale, the chief executive officer now directly owns 213,313 shares in the company, valued at approximately $1,403,599.54. This trade represents a 2.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Farrell Simon sold 81,313 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $6.75, for a total value of $548,862.75. Following the completion of the transaction, the insider now directly owns 76,900 shares in the company, valued at $519,075. This represents a 51.39% decrease in their position. The disclosure for this sale can be found here. 24.37% of the stock is owned by insiders.

Institutional Investors Weigh In On Trevi Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of TRVI. Raymond James Financial Inc. lifted its position in shares of Trevi Therapeutics by 4,144.8% in the 1st quarter. Raymond James Financial Inc. now owns 509,379 shares of the company’s stock valued at $3,204,000 after acquiring an additional 497,379 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Trevi Therapeutics by 2.1% in the first quarter. American Century Companies Inc. now owns 79,796 shares of the company’s stock valued at $502,000 after purchasing an additional 1,653 shares in the last quarter. Tejara Capital Ltd lifted its holdings in shares of Trevi Therapeutics by 16.8% in the first quarter. Tejara Capital Ltd now owns 179,516 shares of the company’s stock valued at $1,129,000 after purchasing an additional 25,777 shares in the last quarter. Persistent Asset Partners Ltd acquired a new stake in shares of Trevi Therapeutics in the first quarter worth $260,000. Finally, Informed Momentum Co LLC purchased a new position in shares of Trevi Therapeutics during the first quarter valued at $3,465,000. 95.76% of the stock is owned by institutional investors and hedge funds.

Trevi Therapeutics Company Profile

Trevi Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapy Haduvio for the treatment of chronic cough in idiopathic pulmonary fibrosis (IPF) and refractory chronic cough (RCC) conditions targeting the central and peripheral nervous systems.