Trevi Therapeutics (NASDAQ:TRVI) Price Target Raised to $30.00 at Cantor Fitzgerald

Trevi Therapeutics (NASDAQ:TRVI) had its price target hoisted by Cantor Fitzgerald from $25.00 to $30.00 in a report issued on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other research analysts have also issued reports about the company. Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 target price on shares of Trevi Therapeutics in a research report on Wednesday, May 20th. D. Boral Capital reiterated a “buy” rating and issued a $19.00 price target on shares of Trevi Therapeutics in a research report on Friday, April 17th. Raymond James Financial restated a “strong-buy” rating and set a $40.00 price objective on shares of Trevi Therapeutics in a research report on Friday. Wall Street Zen downgraded shares of Trevi Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Trevi Therapeutics in a report on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $26.75.

Trevi Therapeutics Price Performance

TRVI opened at $18.51 on Friday. Trevi Therapeutics has a fifty-two week low of $6.55 and a fifty-two week high of $20.22. The company’s 50 day moving average price is $16.97 and its two-hundred day moving average price is $14.00. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of -54.44 and a beta of 1.03.

Trevi Therapeutics (NASDAQ:TRVI) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.11). As a group, equities research analysts predict that Trevi Therapeutics will post -0.47 EPS for the current year.

Hedge Funds Weigh In On Trevi Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in shares of Trevi Therapeutics during the 2nd quarter worth approximately $208,041,000. Alliancebernstein L.P. lifted its position in shares of Trevi Therapeutics by 19,064.5% during the 2nd quarter. Alliancebernstein L.P. now owns 4,281,355 shares of the company’s stock valued at $23,419,000 after acquiring an additional 4,259,015 shares during the period. Rubric Capital Management LP lifted its position in shares of Trevi Therapeutics by 88.0% during the 2nd quarter. Rubric Capital Management LP now owns 8,531,860 shares of the company’s stock valued at $46,669,000 after acquiring an additional 3,993,325 shares during the period. Viking Global Investors LP boosted its stake in Trevi Therapeutics by 232.4% during the third quarter. Viking Global Investors LP now owns 5,128,875 shares of the company’s stock worth $46,929,000 after acquiring an additional 3,585,875 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in Trevi Therapeutics by 1,792.0% during the third quarter. Wellington Management Group LLP now owns 3,253,888 shares of the company’s stock worth $29,773,000 after acquiring an additional 3,081,906 shares in the last quarter. 95.76% of the stock is owned by institutional investors and hedge funds.

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.