Brokerages Set Trevi Therapeutics, Inc. (NASDAQ:TRVI) Price Target at $17.56

Trevi Therapeutics, Inc. (NASDAQ:TRVI) has received a consensus recommendation of “Buy” from the ten brokerages that are presently covering the company, MarketBeat Ratings reports. Seven research analysts have rated the stock with a buy recommendation and three have issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $17.56.

A number of equities analysts recently issued reports on TRVI shares. Needham & Company LLC restated a “buy” rating and set a $24.00 price objective on shares of Trevi Therapeutics in a report on Tuesday, April 8th. D. Boral Capital restated a “buy” rating and issued a $21.00 price target on shares of Trevi Therapeutics in a report on Wednesday, March 19th. HC Wainwright reiterated a “buy” rating and set a $12.50 price objective on shares of Trevi Therapeutics in a report on Wednesday, March 19th. Oppenheimer boosted their price objective 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. Finally, B. Riley reaffirmed a “buy” rating and set a $20.00 target price (up from $11.00) on shares of Trevi Therapeutics in a research report on Wednesday, March 19th.

Trevi Therapeutics Price Performance

Shares of Trevi Therapeutics stock opened at $6.60 on Wednesday. Trevi Therapeutics has a twelve month low of $2.30 and a twelve month high of $7.39. The business has a 50-day moving average price of $6.15 and a 200-day moving average price of $4.54. The firm has a market cap of $659.29 million, a price-to-earnings ratio of -15.00 and a beta of 0.62.

Trevi Therapeutics (NASDAQ:TRVI) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.04. On average, equities analysts expect that Trevi Therapeutics will post -0.49 EPS for the current fiscal year.

Insider Activity

In related news, insider Farrell Simon sold 81,313 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $6.75, for a total transaction of $548,862.75. Following the completion of the transaction, the insider now owns 76,900 shares in the company, valued at approximately $519,075. The trade was a 51.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jennifer L. Good sold 5,263 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 213,313 shares in the company, valued at approximately $1,403,599.54. The trade was a 2.41% decrease in their position. The disclosure for this sale can be found here. Insiders own 24.37% of the company’s stock.

Institutional Trading of Trevi Therapeutics

Large investors have recently made changes to their positions in the company. Point72 Asset Management L.P. purchased a new stake in shares of Trevi Therapeutics in the fourth quarter valued at about $17,099,000. Frazier Life Sciences Management L.P. raised its stake in Trevi Therapeutics by 44.5% during the 4th quarter. Frazier Life Sciences Management L.P. now owns 10,664,774 shares of the company’s stock valued at $43,939,000 after acquiring an additional 3,283,684 shares during the last quarter. Woodline Partners LP lifted its position in Trevi Therapeutics by 429.9% during the 4th quarter. Woodline Partners LP now owns 3,212,597 shares of the company’s stock worth $13,236,000 after acquiring an additional 2,606,370 shares during the period. Adage Capital Partners GP L.L.C. acquired a new stake in Trevi Therapeutics during the 4th quarter worth approximately $10,300,000. Finally, Acorn Capital Advisors LLC purchased a new position in shares of Trevi Therapeutics in the 4th quarter valued at approximately $8,244,000. 95.76% of the stock is owned by institutional investors and hedge funds.

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.