Trevi Therapeutics, Inc. (NASDAQ:TRVI) Receives Consensus Recommendation of “Buy” from Analysts

Trevi Therapeutics, Inc. (NASDAQ:TRVI) has been assigned a consensus recommendation of “Buy” from the eleven brokerages that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, eight have given a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $22.6667.

TRVI has been the topic of several research analyst reports. Wall Street Zen raised shares of Trevi Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. JonesTrading reduced their target price on shares of Trevi Therapeutics from $25.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, March 19th. D. Boral Capital reiterated a “buy” rating and issued a $19.00 price target on shares of Trevi Therapeutics in a research note on Friday, April 17th. Stifel Nicolaus set a $30.00 price target on shares of Trevi Therapeutics in a report on Friday, May 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Trevi Therapeutics in a report on Monday, April 20th.

Institutional Investors Weigh In On Trevi Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. acquired a new stake in Trevi Therapeutics during the second quarter worth approximately $28,447,000. Seven Fleet Capital Management LP grew its holdings in shares of Trevi Therapeutics by 281.8% during the 1st quarter. Seven Fleet Capital Management LP now owns 27,149 shares of the company’s stock worth $324,000 after purchasing an additional 20,039 shares in the last quarter. Avidity Partners Management LP acquired a new stake in shares of Trevi Therapeutics during the 1st quarter worth $79,000. Bank of America Corp DE increased its position in shares of Trevi Therapeutics by 11.2% in 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. Finally, The Manufacturers Life Insurance Company raised its stake in Trevi Therapeutics by 55.9% in the first quarter. The Manufacturers Life Insurance Company now owns 43,561 shares of the company’s stock valued at $520,000 after purchasing an additional 15,624 shares in the last quarter. 95.76% of the stock is currently owned by institutional investors and hedge funds.

Trevi Therapeutics Trading Down 3.0%

TRVI stock opened at $17.84 on Monday. Trevi Therapeutics has a 1-year low of $6.24 and a 1-year high of $20.15. The business’s 50 day simple moving average is $15.49 and its 200 day simple moving average is $13.15. The firm has a market capitalization of $2.53 billion, a PE ratio of -55.75 and a beta of 1.00.

Trevi Therapeutics (NASDAQ:TRVI) last announced its quarterly earnings results 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). As a group, sell-side analysts predict that Trevi Therapeutics will post -0.47 EPS for the current fiscal year.

Trevi Therapeutics Company Profile

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.