Trevi Therapeutics (NASDAQ:TRVI) Trading Up 7.4% – What’s Next?

by · The Markets Daily

Trevi Therapeutics, Inc. (NASDAQ:TRVI – Get Free Report) traded up 7.4% during trading on Tuesday . The stock traded as high as $17.87 and last traded at $17.75. 779,954 shares were traded during trading, a decline of 53% from the average session volume of 1,657,574 shares. The stock had previously closed at $16.52.

Analysts Set New Price Targets

TRVI has been the topic of a number of research reports. Wall Street Zen raised shares of Trevi Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 target price on shares of Trevi Therapeutics in a report on Wednesday, May 20th. HC Wainwright reiterated a “buy” rating and issued a $21.00 price target on shares of Trevi Therapeutics in a research report on Wednesday, May 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Trevi Therapeutics in a research note on Monday, April 20th. Finally, D. Boral Capital reissued a “buy” rating and set a $19.00 price objective on shares of Trevi Therapeutics in a research report on Friday, April 17th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $22.67.

Get Our Latest Stock Report on TRVI

Trevi Therapeutics Stock Up 1.3%

The firm has a 50 day moving average price of $15.69 and a 200 day moving average price of $13.25. The stock has a market cap of $2.58 billion, a P/E ratio of -56.72 and a beta of 1.00.

Trevi Therapeutics (NASDAQ:TRVI – Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). Equities analysts predict that Trevi Therapeutics, Inc. will post -0.47 earnings per share for the current fiscal year.

Institutional Trading of Trevi Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Rubric Capital Management LP lifted its stake 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 buying an additional 3,993,325 shares in the last quarter. Vanguard Group Inc. raised its holdings in Trevi Therapeutics by 10.4% during the fourth quarter. Vanguard Group Inc. now owns 6,434,655 shares of the company’s stock valued at $80,562,000 after acquiring an additional 607,669 shares during the period. Viking Global Investors LP raised its holdings 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 valued at $46,929,000 after acquiring an additional 3,585,875 shares during the period. Vivo Capital LLC lifted its position in shares of Trevi Therapeutics by 13.5% in the third quarter. Vivo Capital LLC now owns 5,094,668 shares of the company’s stock valued at $46,616,000 after acquiring an additional 606,765 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in shares of Trevi Therapeutics by 95.4% in the third quarter. Marshall Wace LLP now owns 4,841,751 shares of the company’s stock valued at $44,302,000 after acquiring an additional 2,363,835 shares in the last quarter. 95.76% of the stock is owned by hedge funds and other institutional investors.

About Trevi Therapeutics

(Get Free Report)

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.

Further Reading