Leerink Partners Begins Coverage on Trevi Therapeutics (NASDAQ:TRVI)

Equities research analysts at Leerink Partners started coverage on shares of Trevi Therapeutics (NASDAQ:TRVI) in a report released on Thursday, Marketbeat.com reports. The brokerage set an “outperform” rating and a $13.00 price target on the stock. Leerink Partners’ target price points to a potential upside of 11.83% from the company’s current price.

A number of other equities analysts also recently issued reports on TRVI. Needham & Company LLC dropped their price objective on shares of Trevi Therapeutics from $24.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, August 8th. Raymond James Financial reduced their price target on Trevi Therapeutics from $29.00 to $27.00 and set a “strong-buy” rating for the company in a research report on Friday, August 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Trevi Therapeutics in a research note on Wednesday, October 8th. Finally, Morgan Stanley began coverage on shares of Trevi Therapeutics in a research report on Thursday, August 21st. They set an “overweight” rating and a $18.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.78.

Trevi Therapeutics Stock Down 1.9%

NASDAQ:TRVI traded down $0.23 during mid-day trading on Thursday, reaching $11.63. The company’s stock had a trading volume of 457,514 shares, compared to its average volume of 1,918,602. Trevi Therapeutics has a 1 year low of $2.36 and a 1 year high of $12.30. The stock has a fifty day moving average of $9.73 and a 200-day moving average of $7.77. The firm has a market capitalization of $1.42 billion, a PE ratio of -27.70 and a beta of 0.67.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. grew its holdings in shares of Trevi Therapeutics by 194.5% during the second quarter. Russell Investments Group Ltd. now owns 4,536 shares of the company’s stock valued at $25,000 after buying an additional 2,996 shares during the last quarter. Farther Finance Advisors LLC grew its stake in Trevi Therapeutics by 15,969.1% during the 2nd quarter. Farther Finance Advisors LLC now owns 8,838 shares of the company’s stock valued at $48,000 after purchasing an additional 8,783 shares during the last quarter. Strs Ohio purchased a new stake in Trevi Therapeutics during the 1st quarter valued at about $52,000. Catalyst Funds Management Pty Ltd acquired a new position in shares of Trevi Therapeutics in the second quarter valued at about $56,000. Finally, Rafferty Asset Management LLC purchased a new position in shares of Trevi Therapeutics in the second quarter worth about $60,000. Institutional investors and hedge funds own 95.76% of the company’s stock.

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.