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

Trevi Therapeutics (NASDAQ:TRVI) issued its earnings results on Tuesday. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.02), FiscalAI reports.

Trevi Therapeutics Stock Up 1.9%

TRVI traded up $0.28 during trading on Tuesday, hitting $14.66. 1,019,080 shares of the stock were exchanged, compared to its average volume of 1,492,861. The firm has a market capitalization of $1.89 billion, a P/E ratio of -45.81 and a beta of 1.07. Trevi Therapeutics has a 1-year low of $5.38 and a 1-year high of $16.12. The stock has a fifty day moving average price of $12.49 and a two-hundred day moving average price of $11.87.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on TRVI shares. HC Wainwright reissued a “buy” rating and set a $21.00 target price on shares of Trevi Therapeutics in a research report on Monday, March 9th. D. Boral Capital reissued a “buy” rating and set a $19.00 target price on shares of Trevi Therapeutics in a research report on Friday, April 17th. Oppenheimer reissued an “outperform” rating on shares of Trevi Therapeutics in a research report on Monday, March 9th. JonesTrading cut their target price on Trevi Therapeutics from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday, March 19th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Trevi Therapeutics in a research report on Monday, April 20th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $21.60.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. increased its position in Trevi Therapeutics by 3.3% during the fourth quarter. Invesco Ltd. now owns 498,926 shares of the company’s stock worth $6,247,000 after buying an additional 15,856 shares during the period. KVP Capital Advisors LP purchased a new position in shares of Trevi Therapeutics in the 4th quarter valued at approximately $5,183,000. XTX Topco Ltd purchased a new position in shares of Trevi Therapeutics in the 4th quarter valued at approximately $1,049,000. Wellington Management Group LLP grew its stake in shares of Trevi Therapeutics by 4.6% in the 4th quarter. Wellington Management Group LLP now owns 3,403,990 shares of the company’s stock valued at $42,618,000 after purchasing an additional 150,102 shares during the last quarter. Finally, Tudor Investment Corp ET AL purchased a new position in shares of Trevi Therapeutics in the 4th quarter valued at approximately $857,000. Institutional investors and hedge funds own 95.76% of the company’s stock.

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.