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

Trevi Therapeutics (NASDAQ:TRVI)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a note issued to investors on Monday,Benzinga reports. They presently have a $21.00 price target on the stock. HC Wainwright’s price objective indicates a potential upside of 76.77% from the company’s previous close.

A number of other research analysts also recently commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Trevi Therapeutics in a research note on Wednesday, January 21st. Stifel Nicolaus boosted their target price on shares of Trevi Therapeutics from $15.00 to $18.00 and gave the company a “buy” rating in a report on Friday, December 19th. Oppenheimer upped their price target on shares of Trevi Therapeutics from $23.00 to $24.00 and gave the stock an “outperform” rating in a research report on Friday, November 14th. B. Riley Financial raised shares of Trevi Therapeutics to a “strong-buy” rating in a research note on Monday, November 17th. Finally, Morgan Stanley boosted their price objective on shares of Trevi Therapeutics from $18.00 to $19.00 and gave the company an “overweight” rating in a research note on Friday, November 14th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $21.10.

Trevi Therapeutics Stock Performance

NASDAQ TRVI traded down $1.42 during trading hours on Monday, hitting $11.88. 1,033,596 shares of the company’s stock were exchanged, compared to its average volume of 1,406,810. The business’s 50 day moving average is $11.26 and its 200-day moving average is $10.73. Trevi Therapeutics has a 12-month low of $4.85 and a 12-month high of $14.39. The firm has a market capitalization of $1.52 billion, a P/E ratio of -32.11 and a beta of 0.94.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TRVI. Russell Investments Group Ltd. increased its stake in Trevi Therapeutics by 194.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 4,536 shares of the company’s stock worth $25,000 after buying an additional 2,996 shares during the period. Hilton Head Capital Partners LLC purchased a new position in Trevi Therapeutics in the 4th quarter valued at about $40,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Trevi Therapeutics during the fourth quarter valued at about $50,000. Strs Ohio acquired a new stake in shares of Trevi Therapeutics during the first quarter valued at about $52,000. Finally, Catalyst Funds Management Pty Ltd purchased a new stake in shares of Trevi Therapeutics during the second quarter worth about $56,000. 95.76% of the stock is owned by institutional investors and hedge funds.

Trevi Therapeutics Company Profile

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.