Trevi Therapeutics, Inc. (NASDAQ:TRVI – Get Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $27.08.
Several brokerages have commented on TRVI. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $40.00 price target on shares of Trevi Therapeutics in a research report on Friday, August 7th. Morgan Stanley reissued an “overweight” rating and issued a $23.00 price objective on shares of Trevi Therapeutics in a research report on Friday, August 7th. JonesTrading increased their price objective on Trevi Therapeutics from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, August 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Trevi Therapeutics in a research note on Thursday, October 15th. Finally, B. Riley Financial raised their price objective on shares of Trevi Therapeutics from $21.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday, July 20th.
Check Out Our Latest Report on Trevi Therapeutics
Insider Buying and Selling
In related news, Director Michael Heffernan sold 39,473 shares of the company’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $15.09, for a total transaction of $595,647.57. Following the completion of the transaction, the director directly owned 6,351 shares in the company, valued at $95,836.59. This represents a 86.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 15.39% of the stock is currently owned by insiders.
Institutional Trading of Trevi Therapeutics
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. increased its stake in Trevi Therapeutics by 131.2% during the third quarter. Assenagon Asset Management S.A. now owns 3,527,035 shares of the company’s stock valued at $50,507,000 after acquiring an additional 2,001,721 shares during the period. First Light Asset Management LLC acquired a new position in Trevi Therapeutics in the 2nd quarter valued at approximately $39,113,000. WINTON GROUP Ltd acquired a new position in Trevi Therapeutics in the 2nd quarter valued at approximately $1,993,000. Arizona State Retirement System raised its holdings in Trevi Therapeutics by 12.9% in the 2nd quarter. Arizona State Retirement System now owns 26,434 shares of the company’s stock valued at $493,000 after acquiring an additional 3,019 shares in the last quarter. Finally, Amundi bought a new stake in shares of Trevi Therapeutics in the 2nd quarter worth approximately $192,000. 95.76% of the stock is currently owned by institutional investors and hedge funds.
Trevi Therapeutics Trading Up 7.8%
Trevi Therapeutics stock opened at $12.83 on Wednesday. The business’s 50-day simple moving average is $15.51 and its 200-day simple moving average is $15.64. Trevi Therapeutics has a 52 week low of $9.82 and a 52 week high of $20.22.
Trevi Therapeutics (NASDAQ:TRVI – Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.11) earnings per share for the quarter, meeting the consensus estimate of ($0.11). As a group, research analysts predict that Trevi Therapeutics will post -0.48 earnings per share for the current year.
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.
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