Trevi Therapeutics (NASDAQ:TRVI) Trading Up 5.7% – What’s Next?

Shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI) rose 5.7% during mid-day trading on Wednesday . The company traded as high as $13.72 and last traded at $13.73. Approximately 1,302,326 shares were traded during mid-day trading, a decline of 33% from the average daily volume of 1,946,164 shares. The stock had previously closed at $12.99.

Wall Street Analyst Weigh In

A number of analysts recently commented on TRVI shares. Morgan Stanley upped their price objective on Trevi Therapeutics from $18.00 to $19.00 and gave the company an “overweight” rating in a research report on Friday, November 14th. Leerink Partners upped their price target on shares of Trevi Therapeutics from $13.00 to $16.00 and gave the company an “outperform” rating in a research report on Wednesday, November 19th. Oppenheimer raised their price objective on shares of Trevi Therapeutics from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Friday, November 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Trevi Therapeutics in a research report on Wednesday, October 8th. Finally, D. Boral Capital reiterated a “buy” rating and issued a $19.00 price target on shares of Trevi Therapeutics in a research report on Friday, November 14th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $21.44.

Trevi Therapeutics Stock Up 8.7%

The stock has a fifty day simple moving average of $11.22 and a 200 day simple moving average of $8.55. The firm has a market capitalization of $1.81 billion, a P/E ratio of -38.36 and a beta of 0.82.

Trevi Therapeutics (NASDAQ:TRVI) last issued its earnings results on Thursday, November 13th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.02. Research analysts anticipate that Trevi Therapeutics, Inc. will post -0.49 earnings per share for the current fiscal year.

Institutional Trading of Trevi Therapeutics

Hedge funds have recently modified their holdings of the company. Vivo Capital LLC boosted its position in shares of Trevi Therapeutics by 13.5% during the 3rd 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 during the last quarter. Velan Capital Investment Management LP purchased a new stake in Trevi Therapeutics during the third quarter valued at $1,876,000. Qube Research & Technologies Ltd raised its stake in Trevi Therapeutics by 45.5% during the third quarter. Qube Research & Technologies Ltd now owns 651,679 shares of the company’s stock valued at $5,963,000 after purchasing an additional 203,827 shares in the last quarter. Millennium Management LLC lifted its position in Trevi Therapeutics by 362.7% during the third quarter. Millennium Management LLC now owns 727,596 shares of the company’s stock valued at $6,658,000 after purchasing an additional 570,352 shares during the last quarter. Finally, Fred Alger Management LLC grew its stake in shares of Trevi Therapeutics by 221.5% in the 3rd quarter. Fred Alger Management LLC now owns 191,045 shares of the company’s stock worth $1,748,000 after buying an additional 131,620 shares in the last quarter. 95.76% of the stock is owned by hedge funds and other institutional investors.

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.