Analysts Set Trevi Therapeutics, Inc. (NASDAQ:TRVI) Price Target at $15.94

Shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI) have been given a consensus rating of “Buy” by the ten ratings firms that are covering the stock, Marketbeat reports. Seven analysts have rated the stock with a buy rating and three have issued a strong buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $17.56.

Several brokerages have recently issued reports on TRVI. HC Wainwright restated a “buy” rating and set a $12.50 price target on shares of Trevi Therapeutics in a research note on Wednesday, March 19th. Raymond James raised 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 research report on Monday, March 10th. D. Boral Capital reaffirmed a “buy” rating and set a $21.00 price target on shares of Trevi Therapeutics in a research report on Wednesday, March 19th. Needham & Company LLC decreased their price objective on Trevi Therapeutics from $25.00 to $24.00 and set a “buy” rating for the company in a report on Wednesday, March 19th. Finally, B. Riley reaffirmed a “buy” rating and set a $20.00 price objective (up from $11.00) on shares of Trevi Therapeutics in a report on Wednesday, March 19th.

Trevi Therapeutics Price Performance

TRVI opened at $6.40 on Tuesday. Trevi Therapeutics has a fifty-two week low of $2.30 and a fifty-two week high of $7.39. The firm has a market capitalization of $491.94 million, a PE ratio of -14.55 and a beta of 0.90. The company’s 50-day moving average is $4.65 and its 200 day moving average is $3.78.

Trevi Therapeutics (NASDAQ:TRVI) last issued its quarterly earnings data on Tuesday, March 18th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.01. As a group, analysts expect that Trevi Therapeutics will post -0.49 EPS for the current year.

Insider Activity

In other news, insider Farrell Simon sold 81,313 shares of Trevi Therapeutics stock in a transaction that occurred 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 directly owns 76,900 shares in the company, valued at approximately $519,075. This trade represents a 51.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 24.37% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

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