Trevi Therapeutics (NASDAQ:TRVI) Posts Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Trevi Therapeutics (NASDAQ:TRVI) announced its quarterly earnings data on Tuesday. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04, FiscalAI reports.

Trevi Therapeutics Stock Performance

Shares of TRVI stock traded up $0.03 during mid-day trading on Tuesday, hitting $11.19. 1,016,020 shares of the stock traded hands, compared to its average volume of 1,374,505. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of -30.24 and a beta of 0.94. Trevi Therapeutics has a twelve month low of $4.85 and a twelve month high of $14.39. The company’s 50-day simple moving average is $11.17 and its 200-day simple moving average is $10.90.

Analysts Set New Price Targets

A number of research firms have weighed in on TRVI. Weiss Ratings reissued a “sell (d-)” rating on shares of Trevi Therapeutics in a report on Wednesday, January 21st. HC Wainwright reissued a “buy” rating and issued a $21.00 target price on shares of Trevi Therapeutics in a report on Monday, March 9th. Leerink Partners upped their price objective on Trevi Therapeutics from $13.00 to $16.00 and gave the company an “outperform” rating in a research report on Wednesday, November 19th. Stifel Nicolaus increased their price target on shares of Trevi Therapeutics from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, December 19th. Finally, D. Boral Capital reiterated a “buy” rating and issued a $19.00 price target on shares of Trevi Therapeutics in a report on Monday, March 9th. 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 data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $21.10.

Hedge Funds Weigh In On Trevi Therapeutics

A number of institutional investors have recently bought and sold shares of TRVI. Russell Investments Group Ltd. boosted its holdings in shares of 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. Strs Ohio acquired a new position in Trevi Therapeutics during the 1st quarter worth $52,000. Abel Hall LLC bought a new stake in Trevi Therapeutics during the fourth quarter valued at about $128,000. Rafferty Asset Management LLC acquired a new stake in shares of Trevi Therapeutics in the second quarter valued at about $60,000. Finally, Creative Planning lifted its position in shares of Trevi Therapeutics by 17.5% during the 2nd quarter. Creative Planning now owns 20,247 shares of the company’s stock worth $111,000 after purchasing an additional 3,016 shares during the last quarter. Hedge funds and other institutional investors own 95.76% of the company’s stock.

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.