Needham & Company LLC Reaffirms “Buy” Rating for Trevi Therapeutics (NASDAQ:TRVI)

Trevi Therapeutics (NASDAQ:TRVI)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $23.00 price target on the stock. Needham & Company LLC’s target price indicates a potential upside of 67.14% from the stock’s previous close.

TRVI has been the subject of several other research reports. Wall Street Zen downgraded shares of Trevi Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Oppenheimer reaffirmed an “outperform” rating on shares of Trevi Therapeutics in a research report on Monday, March 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Trevi Therapeutics in a research report on Monday, April 20th. HC Wainwright reiterated a “buy” rating and issued a $21.00 target price on shares of Trevi Therapeutics in a report on Wednesday, May 6th. Finally, D. Boral Capital reiterated a “buy” rating and issued a $19.00 target price on shares of Trevi Therapeutics in a report on Friday, April 17th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $22.90.

Trevi Therapeutics Stock Performance

Shares of TRVI stock traded up $0.52 during trading hours on Wednesday, hitting $13.76. 598,518 shares of the company were exchanged, compared to its average volume of 1,487,856. The firm has a market cap of $1.95 billion, a P/E ratio of -43.08 and a beta of 1.07. Trevi Therapeutics has a fifty-two week low of $5.38 and a fifty-two week high of $16.12. The company has a 50 day simple moving average of $13.02 and a two-hundred day simple moving average of $12.16.

Trevi Therapeutics (NASDAQ:TRVI) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.02). As a group, sell-side analysts expect that Trevi Therapeutics will post -0.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Trevi Therapeutics

A number of large investors have recently modified their holdings of TRVI. Pivotal bioVenture Partners Investment Advisor LLC increased its holdings in Trevi Therapeutics by 9.7% in the 3rd quarter. Pivotal bioVenture Partners Investment Advisor LLC now owns 1,256,782 shares of the company’s stock worth $11,500,000 after acquiring an additional 110,672 shares during the last quarter. Pictet Asset Management Holding SA increased its holdings in Trevi Therapeutics by 13,507.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,532,013 shares of the company’s stock worth $19,181,000 after acquiring an additional 1,520,754 shares during the last quarter. SG Americas Securities LLC increased its holdings in Trevi Therapeutics by 93.0% in the 4th quarter. SG Americas Securities LLC now owns 124,562 shares of the company’s stock worth $1,560,000 after acquiring an additional 60,017 shares during the last quarter. F m Investments LLC purchased a new stake in Trevi Therapeutics in the 4th quarter worth about $3,023,000. Finally, Nan Fung Trinity HK Ltd. increased its holdings in Trevi Therapeutics by 924.2% in the 4th quarter. Nan Fung Trinity HK Ltd. now owns 917,450 shares of the company’s stock worth $11,486,000 after acquiring an additional 827,875 shares during the last quarter. 95.76% of the stock is currently owned by institutional investors.

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.