Trevi Therapeutics’ (TRVI) “Buy” Rating Reaffirmed at Needham & Company LLC

Trevi Therapeutics (NASDAQ:TRVI)‘s stock had its “buy” rating reissued by investment analysts at Needham & Company LLC in a research note issued on Tuesday,Benzinga reports. They presently have a $24.00 price objective on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 315.22% from the company’s current price.

Several other equities research analysts have also recently weighed in on TRVI. Raymond James raised Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and increased their price target for the company from $9.00 to $29.00 in a research note on Monday, March 10th. Oppenheimer increased their target price on shares of Trevi Therapeutics from $12.00 to $20.00 and gave the company an “outperform” rating in a research report on Tuesday, March 11th. HC Wainwright restated a “buy” rating and issued a $12.50 price target on shares of Trevi Therapeutics in a research report on Wednesday, March 19th. D. Boral Capital reiterated a “buy” rating and set a $21.00 price objective on shares of Trevi Therapeutics in a research report on Wednesday, March 19th. Finally, B. Riley reissued a “buy” rating and set a $20.00 target price (up previously from $11.00) on shares of Trevi Therapeutics in a research note on Wednesday, March 19th. Seven investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $17.56.

Trevi Therapeutics Price Performance

NASDAQ:TRVI opened at $5.78 on Tuesday. Trevi Therapeutics has a one year low of $2.30 and a one year high of $7.39. The company has a market cap of $558.82 million, a PE ratio of -13.14 and a beta of 0.41. The firm’s 50 day simple moving average is $5.14 and its 200 day simple moving average is $3.99.

Trevi Therapeutics (NASDAQ:TRVI) last issued its quarterly earnings results on Tuesday, March 18th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.01. Equities research analysts expect that Trevi Therapeutics will post -0.49 EPS for the current year.

Insiders Place Their Bets

In related news, insider Farrell Simon sold 81,313 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $6.75, for a total transaction of $548,862.75. Following the transaction, the insider now directly owns 76,900 shares of the company’s stock, valued at approximately $519,075. This represents a 51.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $34,630.54. Following the completion of the sale, the chief executive officer now directly owns 213,313 shares of the company’s stock, valued at $1,403,599.54. This trade represents a 2.41 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 24.37% of the company’s stock.

Hedge Funds Weigh In On Trevi Therapeutics

Institutional investors have recently modified their holdings of the company. Summit Investment Advisors Inc. grew its position in Trevi Therapeutics by 84.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 6,332 shares of the company’s stock valued at $26,000 after purchasing an additional 2,894 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Trevi Therapeutics by 2.1% in the fourth quarter. Bank of New York Mellon Corp now owns 140,219 shares of the company’s stock valued at $578,000 after buying an additional 2,935 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Trevi Therapeutics by 14.5% during the fourth quarter. SG Americas Securities LLC now owns 26,792 shares of the company’s stock valued at $110,000 after buying an additional 3,387 shares during the last quarter. Invesco Ltd. increased its position in shares of Trevi Therapeutics by 21.2% during the fourth quarter. Invesco Ltd. now owns 23,621 shares of the company’s stock worth $97,000 after acquiring an additional 4,133 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Trevi Therapeutics by 32.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,166 shares of the company’s stock worth $104,000 after acquiring an additional 6,119 shares in the last quarter. 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.