Trevi Therapeutics (NASDAQ:TRVI) Trading 4.4% Higher Following Better-Than-Expected Earnings

Trevi Therapeutics, Inc. (NASDAQ:TRVI)’s share price traded up 4.4% during trading on Tuesday following a better than expected earnings announcement. The company traded as high as $6.80 and last traded at $6.83. 486,472 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 961,566 shares. The stock had previously closed at $6.54.

The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.01.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on TRVI shares. Oppenheimer raised their price objective on Trevi Therapeutics from $12.00 to $20.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 11th. HC Wainwright reiterated a “buy” rating and issued a $12.50 price target on shares of Trevi Therapeutics in a research report on Wednesday. D. Boral Capital restated a “buy” rating and set a $21.00 price objective on shares of Trevi Therapeutics in a report on Wednesday. Raymond James upgraded shares of Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and raised their target price for the stock from $9.00 to $29.00 in a report on Monday, March 10th. Finally, B. Riley reissued a “buy” rating and issued a $20.00 target price (up from $11.00) on shares of Trevi Therapeutics in a research report on Wednesday. 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, Trevi Therapeutics has a consensus rating of “Buy” and an average target price of $17.56.

Insider Transactions at Trevi Therapeutics

In other Trevi Therapeutics news, insider Farrell Simon sold 81,313 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $6.75, for a total value of $548,862.75. Following the transaction, the insider now owns 76,900 shares in the company, valued at $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 available through the SEC website. 24.37% of the stock is owned by insiders.

Hedge Funds Weigh In On Trevi Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TRVI. Frazier Life Sciences Management L.P. grew its position in Trevi Therapeutics by 44.5% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 10,664,774 shares of the company’s stock worth $43,939,000 after acquiring an additional 3,283,684 shares in the last quarter. Woodline Partners LP boosted its stake in Trevi Therapeutics by 429.9% during 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 period. Squarepoint Ops LLC bought a new stake in Trevi Therapeutics during the 4th quarter valued at approximately $58,000. Two Sigma Advisers LP acquired a new stake in Trevi Therapeutics in the 4th quarter valued at approximately $66,000. Finally, Two Sigma Investments LP bought a new position in Trevi Therapeutics in the 4th quarter worth approximately $560,000. Institutional investors own 95.76% of the company’s stock.

Trevi Therapeutics Price Performance

The company has a market capitalization of $514.93 million, a price-to-earnings ratio of -15.13 and a beta of 0.90. The business has a fifty day moving average price of $4.50 and a 200 day moving average price of $3.71.

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.