Brokerages Set Trevi Therapeutics, Inc. (NASDAQ:TRVI) Price Target at $22.90

Trevi Therapeutics, Inc. (NASDAQ:TRVI) has been assigned a consensus recommendation of “Buy” from the twelve ratings firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, nine have assigned a buy rating and two have given a strong buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $22.90.

Several equities analysts recently issued reports on the stock. Morgan Stanley reissued an “overweight” rating and set a $20.00 price objective on shares of Trevi Therapeutics in a research note on Wednesday, May 6th. D. Boral Capital reissued a “buy” rating and set a $19.00 price objective on shares of Trevi Therapeutics in a research note on Friday, April 17th. Stifel Nicolaus set a $30.00 price objective on shares of Trevi Therapeutics in a research note on Friday, May 8th. JonesTrading reduced their price objective 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. Finally, HC Wainwright reaffirmed a “buy” rating and set a $21.00 price target on shares of Trevi Therapeutics in a research note on Wednesday, May 6th.

Trevi Therapeutics Price Performance

Shares of NASDAQ TRVI opened at $14.16 on Friday. The company has a market capitalization of $2.01 billion, a PE ratio of -44.25 and a beta of 1.07. The firm’s 50-day moving average is $13.11 and its two-hundred day moving average is $12.20. Trevi Therapeutics has a 12-month low of $5.38 and a 12-month high of $16.12.

Trevi Therapeutics (NASDAQ:TRVI) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.02). On average, analysts forecast that Trevi Therapeutics will post -0.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Trevi Therapeutics

A number of large investors have recently bought and sold shares of the stock. Bank of America Corp DE raised its stake in Trevi Therapeutics by 11.2% during the first quarter. Bank of America Corp DE now owns 1,216,955 shares of the company’s stock worth $14,518,000 after purchasing an additional 122,104 shares during the period. The Manufacturers Life Insurance Company raised its stake in Trevi Therapeutics by 55.9% during the first quarter. The Manufacturers Life Insurance Company now owns 43,561 shares of the company’s stock worth $520,000 after purchasing an additional 15,624 shares during the period. AlphaCentric Advisors LLC raised its stake in Trevi Therapeutics by 5.7% during the first quarter. AlphaCentric Advisors LLC now owns 23,970 shares of the company’s stock worth $286,000 after purchasing an additional 1,303 shares during the period. KBC Group NV purchased a new position in Trevi Therapeutics during the first quarter worth approximately $29,000. Finally, Fifth Third Bancorp purchased a new position in Trevi Therapeutics during the first quarter worth approximately $1,531,000. Hedge funds and other institutional investors 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.