Trevi Therapeutics (NASDAQ:TRVI) Reaches New 52-Week High – Still a Buy?

Trevi Therapeutics, Inc. (NASDAQ:TRVI)’s share price hit a new 52-week high on Monday . The company traded as high as $18.47 and last traded at $18.3310, with a volume of 97753 shares changing hands. The stock had previously closed at $18.15.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TRVI. D. Boral Capital restated a “buy” rating and issued a $19.00 price objective on shares of Trevi Therapeutics in a research report on Friday, April 17th. HC Wainwright reiterated a “buy” rating and issued a $21.00 price objective on shares of Trevi Therapeutics in a research report on Wednesday, May 6th. Wall Street Zen raised Trevi Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. Oppenheimer restated an “outperform” rating on shares of Trevi Therapeutics in a research report on Monday, March 9th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $20.00 price target on shares of Trevi Therapeutics in a research note on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $22.90.

Trevi Therapeutics Trading Down 0.1%

The firm’s 50 day moving average price is $14.73 and its 200-day moving average price is $12.77. The company has a market cap of $2.58 billion, a P/E ratio of -56.59 and a beta of 1.04.

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

Institutional Trading of Trevi Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the business. Alliancebernstein L.P. lifted its stake in shares of Trevi Therapeutics by 19,064.5% in the 2nd quarter. Alliancebernstein L.P. now owns 4,281,355 shares of the company’s stock valued at $23,419,000 after purchasing an additional 4,259,015 shares during the period. Rubric Capital Management LP grew its stake in shares of Trevi Therapeutics by 88.0% during the second quarter. Rubric Capital Management LP now owns 8,531,860 shares of the company’s stock worth $46,669,000 after purchasing an additional 3,993,325 shares during the period. Viking Global Investors LP grew its stake in shares of Trevi Therapeutics by 232.4% during the third quarter. Viking Global Investors LP now owns 5,128,875 shares of the company’s stock worth $46,929,000 after purchasing an additional 3,585,875 shares during the period. Wellington Management Group LLP increased its holdings in Trevi Therapeutics by 1,792.0% in the third quarter. Wellington Management Group LLP now owns 3,253,888 shares of the company’s stock valued at $29,773,000 after purchasing an additional 3,081,906 shares during the last quarter. Finally, Marshall Wace LLP increased its holdings in 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 purchasing an additional 2,363,835 shares during the last quarter. Institutional investors own 95.76% of the company’s stock.

About Trevi Therapeutics

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.