HC Wainwright Reaffirms “Buy” Rating for Trevi Therapeutics (NASDAQ:TRVI)

Trevi Therapeutics (NASDAQ:TRVI)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a report released on Wednesday,Benzinga reports. They presently have a $12.50 price target on the stock. HC Wainwright’s price objective indicates a potential upside of 90.55% from the company’s previous close.

Several other brokerages also recently commented on TRVI. Needham & Company LLC decreased their target price on shares of Trevi Therapeutics from $25.00 to $24.00 and set a “buy” rating on the stock in a research note on Wednesday. Oppenheimer boosted their price objective on shares of Trevi Therapeutics from $12.00 to $20.00 and gave the stock an “outperform” rating in a report on Tuesday, March 11th. D. Boral Capital reiterated a “buy” rating and set a $21.00 target price on shares of Trevi Therapeutics in a research note on Wednesday. Finally, Raymond James upgraded shares of Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and boosted their target price for the company from $9.00 to $29.00 in a research note on Monday, March 10th. Seven research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, Trevi Therapeutics presently has a consensus rating of “Buy” and an average price target of $15.81.

Trevi Therapeutics Trading Up 0.3 %

Shares of Trevi Therapeutics stock opened at $6.56 on Wednesday. The business’s fifty day simple moving average is $4.44 and its 200 day simple moving average is $3.68. The firm has a market capitalization of $504.24 million, a P/E ratio of -14.91 and a beta of 0.90. Trevi Therapeutics has a 12 month low of $2.30 and a 12 month high of $7.39.

Trevi Therapeutics (NASDAQ:TRVI) last released its quarterly earnings data on Tuesday, March 18th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.01. Analysts predict that Trevi Therapeutics will post -0.49 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Farrell Simon sold 81,313 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $6.75, for a total value of $548,862.75. Following the completion of the transaction, the insider now owns 76,900 shares of the company’s stock, valued at approximately $519,075. This represents a 51.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 24.37% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its holdings in shares of Trevi Therapeutics by 220.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 100,517 shares of the company’s stock valued at $336,000 after purchasing an additional 69,167 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Trevi Therapeutics by 10.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,264,166 shares of the company’s stock valued at $4,223,000 after buying an additional 117,418 shares in the last quarter. Barclays PLC raised its position in shares of Trevi Therapeutics by 180.8% during the 3rd quarter. Barclays PLC now owns 95,232 shares of the company’s stock valued at $319,000 after buying an additional 61,317 shares in the last quarter. State Street Corp raised its position in shares of Trevi Therapeutics by 5.9% during the 3rd quarter. State Street Corp now owns 952,912 shares of the company’s stock valued at $3,183,000 after buying an additional 53,051 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of Trevi Therapeutics by 130.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,930 shares of the company’s stock valued at $40,000 after buying an additional 6,764 shares in the last quarter. Institutional investors 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.