Trevi Therapeutics, Inc. (NASDAQ:TRVI) Receives $21.60 Consensus Target Price from Analysts

Trevi Therapeutics, Inc. (NASDAQ:TRVI) has received an average rating of “Buy” from the twelve ratings firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, nine have issued a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $21.60.

Several research analysts have recently issued reports on TRVI shares. JonesTrading reduced their target price on shares of Trevi Therapeutics from $25.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, March 19th. Needham & Company LLC boosted their price target on shares of Trevi Therapeutics from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, March 18th. Oppenheimer restated an “outperform” rating on shares of Trevi Therapeutics in a report on Monday, March 9th. Morgan Stanley reduced their price objective on shares of Trevi Therapeutics from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 18th. Finally, D. Boral Capital reaffirmed a “buy” rating and set a $19.00 target price on shares of Trevi Therapeutics in a report on Friday, April 17th.

Trevi Therapeutics Stock Up 1.6%

Shares of TRVI opened at $14.41 on Wednesday. Trevi Therapeutics has a 12-month low of $5.38 and a 12-month high of $16.12. The firm has a market capitalization of $1.85 billion, a PE ratio of -45.03 and a beta of 0.99. The stock’s fifty day simple moving average is $12.20 and its 200-day simple moving average is $11.73.

Trevi Therapeutics (NASDAQ:TRVI) last announced its quarterly earnings data on Tuesday, March 17th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04. Analysts anticipate that Trevi Therapeutics will post -0.46 EPS for the current year.

Institutional Investors Weigh In On Trevi Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC increased its holdings in Trevi Therapeutics by 20.4% in the first quarter. AQR Capital Management LLC now owns 27,720 shares of the company’s stock valued at $174,000 after purchasing an additional 4,688 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Trevi Therapeutics by 31.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,143 shares of the company’s stock worth $278,000 after buying an additional 10,445 shares during the last quarter. Millennium Management LLC boosted its holdings in Trevi Therapeutics by 356.3% during the first quarter. Millennium Management LLC now owns 823,249 shares of the company’s stock worth $5,178,000 after buying an additional 642,830 shares during the last quarter. Strs Ohio bought a new position in Trevi Therapeutics during the first quarter worth about $52,000. Finally, Creative Planning grew its position in shares of Trevi Therapeutics by 17.5% during the 2nd quarter. Creative Planning now owns 20,247 shares of the company’s stock worth $111,000 after buying an additional 3,016 shares during the period. 95.76% of the stock is owned by institutional investors and hedge funds.

About Trevi Therapeutics

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.