Trevi Therapeutics (NASDAQ:TRVI) Rating Increased to Strong-Buy at Raymond James

Raymond James upgraded shares of Trevi Therapeutics (NASDAQ:TRVI) from an outperform rating to a strong-buy rating in a research note published on Monday morning, Marketbeat reports. They currently have $29.00 price objective on the stock, up from their prior price objective of $9.00.

TRVI has been the subject of several other reports. D. Boral Capital reiterated a “buy” rating and set a $21.00 price target on shares of Trevi Therapeutics in a research report on Friday, March 7th. Needham & Company LLC boosted their price target on Trevi Therapeutics from $8.00 to $25.00 and gave the stock a “buy” rating in a research report on Monday. Finally, HC Wainwright boosted their price target on Trevi Therapeutics from $6.00 to $7.50 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Seven equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $15.94.

Trevi Therapeutics Price Performance

Trevi Therapeutics stock opened at $6.30 on Monday. The stock has a market capitalization of $484.26 million, a PE ratio of -14.32 and a beta of 0.90. Trevi Therapeutics has a 12 month low of $2.30 and a 12 month high of $7.39. The business has a 50 day simple moving average of $4.26 and a 200-day simple moving average of $3.58.

Insiders Place Their Bets

In other Trevi Therapeutics news, insider Farrell Simon sold 81,313 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $6.75, for a total transaction of $548,862.75. Following the transaction, the insider now owns 76,900 shares of the company’s stock, valued at approximately $519,075. The trade was a 51.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 24.37% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Trevi Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TRVI. Point72 Asset Management L.P. acquired a new position in Trevi Therapeutics during the fourth quarter worth $17,099,000. Frazier Life Sciences Management L.P. lifted its stake in shares of Trevi Therapeutics by 44.5% in 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 purchasing an additional 3,283,684 shares during the last quarter. Woodline Partners LP lifted its stake in shares of Trevi Therapeutics by 429.9% in the 4th quarter. Woodline Partners LP now owns 3,212,597 shares of the company’s stock valued at $13,236,000 after purchasing an additional 2,606,370 shares during the last quarter. Adage Capital Partners GP L.L.C. acquired a new position in shares of Trevi Therapeutics in the 4th quarter valued at $10,300,000. Finally, Acorn Capital Advisors LLC acquired a new position in shares of Trevi Therapeutics in the 4th quarter valued at $8,244,000. Institutional investors and hedge funds own 95.76% of the company’s stock.

Trevi Therapeutics Company Profile

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.