Trevi Therapeutics (NASDAQ:TRVI) Reaches New 1-Year High – Still a Buy?

Trevi Therapeutics, Inc. (NASDAQ:TRVI) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $13.36 and last traded at $13.3060, with a volume of 1364073 shares changing hands. The stock had previously closed at $11.36.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Oppenheimer boosted their price objective on shares of Trevi Therapeutics from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Friday, November 14th. D. Boral Capital reissued a “buy” rating and issued a $19.00 price target on shares of Trevi Therapeutics in a report on Friday, November 14th. B. Riley upgraded Trevi Therapeutics to a “strong-buy” rating in a research report on Monday, November 17th. Leerink Partners boosted their price objective on Trevi Therapeutics from $13.00 to $16.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 19th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Trevi Therapeutics in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Trevi Therapeutics presently has an average rating of “Buy” and an average price target of $21.44.

Trevi Therapeutics Trading Up 16.4%

The company has a fifty day moving average of $10.27 and a two-hundred day moving average of $8.06. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of -35.73 and a beta of 0.67.

Trevi Therapeutics (NASDAQ:TRVI) last released its quarterly earnings results on Thursday, November 13th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.02. As a group, sell-side analysts predict that Trevi Therapeutics, Inc. will post -0.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. lifted its position in Trevi Therapeutics by 194.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 4,536 shares of the company’s stock worth $25,000 after buying an additional 2,996 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Trevi Therapeutics by 15,969.1% in the second quarter. Farther Finance Advisors LLC now owns 8,838 shares of the company’s stock valued at $48,000 after acquiring an additional 8,783 shares during the last quarter. Strs Ohio bought a new stake in Trevi Therapeutics during the first quarter worth about $52,000. Catalyst Funds Management Pty Ltd acquired a new position in shares of Trevi Therapeutics during the 2nd quarter worth approximately $56,000. Finally, Rafferty Asset Management LLC bought a new stake in shares of Trevi Therapeutics during the 2nd quarter worth approximately $60,000. 95.76% of the stock is currently 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.