Needham & Company LLC Reaffirms Buy Rating for Trevi Therapeutics (NASDAQ:TRVI)

Needham & Company LLC reaffirmed their buy rating on shares of Trevi Therapeutics (NASDAQ:TRVI) in a research report sent to investors on Friday, Benzinga reports. Needham & Company LLC currently has a $8.00 price target on the stock.

A number of other research analysts have also issued reports on the stock. Leerink Partners began coverage on shares of Trevi Therapeutics in a research note on Monday, September 9th. They set an outperform rating and a $7.00 price target on the stock. EF Hutton Acquisition Co. I upgraded shares of Trevi Therapeutics to a strong-buy rating in a research report on Monday, August 19th. Raymond James started coverage on shares of Trevi Therapeutics in a research report on Friday, August 30th. They issued an outperform rating and a $9.00 target price for the company. Rodman & Renshaw assumed coverage on shares of Trevi Therapeutics in a research report on Thursday, June 13th. They set a buy rating and a $7.00 price objective for the company. Finally, HC Wainwright assumed coverage on shares of Trevi Therapeutics in a research report on Friday, August 30th. They set a buy rating and a $6.00 price target on the stock. Six investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Trevi Therapeutics presently has an average rating of Buy and an average price target of $7.67.

Trevi Therapeutics Price Performance

Shares of TRVI stock opened at $3.02 on Friday. The company has a market capitalization of $212.71 million, a price-to-earnings ratio of -8.88 and a beta of 0.97. The company’s fifty day moving average price is $3.04 and its 200-day moving average price is $2.91. Trevi Therapeutics has a one year low of $0.97 and a one year high of $4.00.

Trevi Therapeutics (NASDAQ:TRVI) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.01). During the same quarter in the prior year, the firm earned ($0.07) EPS. Equities research analysts expect that Trevi Therapeutics will post -0.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Thomas Sciascia sold 18,660 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $2.76, for a total transaction of $51,501.60. Following the completion of the transaction, the insider now directly owns 220,315 shares of the company’s stock, valued at approximately $608,069.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Trevi Therapeutics news, insider Thomas Sciascia sold 18,660 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $2.76, for a total transaction of $51,501.60. Following the completion of the sale, the insider now directly owns 220,315 shares of the company’s stock, valued at approximately $608,069.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jennifer L. Good sold 10,981 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $3.02, for a total transaction of $33,162.62. Following the completion of the transaction, the chief executive officer now owns 213,313 shares in the company, valued at approximately $644,205.26. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 40,355 shares of company stock valued at $116,663. 24.37% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new stake in Trevi Therapeutics during the third quarter valued at approximately $78,000. The Manufacturers Life Insurance Company boosted its position in Trevi Therapeutics by 87.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,524 shares of the company’s stock valued at $73,000 after buying an additional 11,450 shares during the last quarter. Logos Global Management LP increased its stake in shares of Trevi Therapeutics by 27.3% in the 2nd quarter. Logos Global Management LP now owns 2,800,000 shares of the company’s stock valued at $8,344,000 after buying an additional 600,000 shares during the period. Ally Bridge Group NY LLC acquired a new position in shares of Trevi Therapeutics during the second quarter valued at $4,395,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of Trevi Therapeutics during the 2nd quarter worth approximately $61,000. 95.76% of the stock is owned by institutional investors.

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.