Trevi Therapeutics (NASDAQ:TRVI) Announces Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Trevi Therapeutics (NASDAQ:TRVI) posted its earnings results on Thursday. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.02, Zacks reports.

Trevi Therapeutics Price Performance

Trevi Therapeutics stock opened at $11.46 on Friday. Trevi Therapeutics has a one year low of $2.36 and a one year high of $12.30. The company’s fifty day moving average price is $9.82 and its two-hundred day moving average price is $7.79. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of -27.29 and a beta of 0.67.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on TRVI shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Trevi Therapeutics in a report on Wednesday, October 8th. Morgan Stanley began coverage on shares of Trevi Therapeutics in a report on Thursday, August 21st. They issued an “overweight” rating and a $18.00 price target for the company. Leerink Partners started coverage on shares of Trevi Therapeutics in a research report on Thursday. They issued an “outperform” rating and a $13.00 price target on the stock. Raymond James Financial reduced their price objective on Trevi Therapeutics from $29.00 to $27.00 and set a “strong-buy” rating for the company in a research note on Friday, August 8th. Finally, Needham & Company LLC reduced their target price on Trevi Therapeutics from $24.00 to $22.00 and set a “buy” rating for the company in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Trevi Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $20.78.

Institutional Trading of Trevi Therapeutics

Several large investors have recently modified their holdings of TRVI. Rubric Capital Management LP lifted its position in shares of Trevi Therapeutics by 88.0% during the 2nd quarter. Rubric Capital Management LP now owns 8,531,860 shares of the company’s stock worth $46,669,000 after purchasing an additional 3,993,325 shares during the last quarter. Vanguard Group Inc. grew its holdings in Trevi Therapeutics by 9.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,826,986 shares of the company’s stock valued at $53,317,000 after buying an additional 510,295 shares during the last quarter. Marshall Wace LLP increased its position in Trevi Therapeutics by 95.4% in the 3rd quarter. Marshall Wace LLP now owns 4,841,751 shares of the company’s stock worth $44,302,000 after buying an additional 2,363,835 shares during the period. Alliancebernstein L.P. increased its position in Trevi Therapeutics by 19,064.5% in the 2nd quarter. Alliancebernstein L.P. now owns 4,281,355 shares of the company’s stock worth $23,419,000 after buying an additional 4,259,015 shares during the period. Finally, Octagon Capital Advisors LP lifted its holdings in shares of Trevi Therapeutics by 10.5% during the second quarter. Octagon Capital Advisors LP now owns 3,672,000 shares of the company’s stock worth $20,086,000 after buying an additional 350,000 shares during the last quarter. 95.76% of the stock is owned by institutional investors.

About Trevi Therapeutics

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.