Trevi Therapeutics, Inc. (NASDAQ:TRVI) Given Average Recommendation of “Buy” by Brokerages

Trevi Therapeutics, Inc. (NASDAQ:TRVI) has been given a consensus recommendation of “Buy” by the thirteen analysts that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, ten have given a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $27.0833.

A number of research analysts recently issued reports on the stock. JonesTrading boosted their target price on shares of Trevi Therapeutics from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, August 14th. Wall Street Zen downgraded Trevi Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Trevi Therapeutics in a research note on Friday, July 17th. Oppenheimer boosted their price objective on Trevi Therapeutics from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Friday, August 7th. Finally, Cantor Fitzgerald boosted their price objective on Trevi Therapeutics from $25.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, August 7th.

Insiders Place Their Bets

In related news, Director Michael Heffernan sold 39,473 shares of Trevi Therapeutics stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $15.09, for a total transaction of $595,647.57. Following the completion of the transaction, the director directly owned 6,351 shares in the company, valued at approximately $95,836.59. This trade represents a 86.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 15.39% of the company’s stock.

Institutional Investors Weigh In On Trevi Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in TRVI. BlackRock Inc. purchased a new position in shares of Trevi Therapeutics during the 2nd quarter valued at approximately $208,041,000. Wellington Management Group LLP lifted its stake in shares of Trevi Therapeutics by 9.5% in the 2nd quarter. Wellington Management Group LLP now owns 5,684,592 shares of the company’s stock valued at $106,018,000 after purchasing an additional 495,504 shares during the period. Eventide Asset Management LLC boosted its holdings in Trevi Therapeutics by 89.8% during the fourth quarter. Eventide Asset Management LLC now owns 2,622,306 shares of the company’s stock worth $32,831,000 after buying an additional 1,240,982 shares in the last quarter. Artia Global Partners LP purchased a new stake in Trevi Therapeutics during the second quarter worth $41,232,000. Finally, First Light Asset Management LLC acquired a new stake in Trevi Therapeutics during the second quarter valued at $39,113,000. Institutional investors and hedge funds own 95.76% of the company’s stock.

Trevi Therapeutics Price Performance

Trevi Therapeutics stock opened at $14.95 on Friday. The stock has a market capitalization of $2.13 billion, a price-to-earnings ratio of -43.97 and a beta of 1.04. The business has a fifty day moving average price of $17.48 and a 200-day moving average price of $15.32. Trevi Therapeutics has a 1-year low of $8.04 and a 1-year high of $20.22.

Trevi Therapeutics (NASDAQ:TRVI) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.11) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.11). On average, equities research analysts anticipate that Trevi Therapeutics will post -0.48 earnings per share for the current fiscal year.

About Trevi Therapeutics

Trevi Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for chronic cough and other conditions involving dysregulated sensory nerve activity. The company’s lead product candidate is Haduvio, an oral extended-release formulation of nalbuphine designed to reduce chronic cough through activity at opioid receptors.

Trevi is studying Haduvio for chronic cough associated with idiopathic pulmonary fibrosis, a progressive lung disease, as well as refractory chronic cough, a condition in which coughing persists despite treatment of underlying causes.