Trevi Therapeutics (NASDAQ:TRVI) Sets New 12-Month High – Should You Buy?

Trevi Therapeutics, Inc. (NASDAQ:TRVI)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $16.25 and last traded at $16.0630, with a volume of 306532 shares traded. The stock had previously closed at $15.40.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TRVI. JonesTrading dropped their target price on Trevi Therapeutics from $25.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, March 19th. D. Boral Capital reaffirmed a “buy” rating and set a $19.00 price objective on shares of Trevi Therapeutics in a report on Friday, April 17th. Needham & Company LLC reiterated a “buy” rating and issued a $23.00 price target on shares of Trevi Therapeutics in a research report on Wednesday, May 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Trevi Therapeutics in a research report on Monday, April 20th. Finally, Stifel Nicolaus set a $30.00 target price on shares of Trevi Therapeutics in a research note on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $22.90.

Trevi Therapeutics Price Performance

The company has a 50-day simple moving average of $14.24 and a two-hundred day simple moving average of $12.59. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of -53.78 and a beta of 1.04.

Trevi Therapeutics (NASDAQ:TRVI) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.02). Research analysts anticipate that Trevi Therapeutics, Inc. will post -0.47 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TRVI. Rubric Capital Management LP lifted its holdings 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 valued at $46,669,000 after purchasing an additional 3,993,325 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Trevi Therapeutics by 10.4% in the 4th quarter. Vanguard Group Inc. now owns 6,434,655 shares of the company’s stock valued at $80,562,000 after buying an additional 607,669 shares in the last quarter. Viking Global Investors LP grew its position in Trevi Therapeutics by 232.4% in the third quarter. Viking Global Investors LP now owns 5,128,875 shares of the company’s stock worth $46,929,000 after acquiring an additional 3,585,875 shares in the last quarter. Vivo Capital LLC increased its position in Trevi Therapeutics by 13.5% during the third quarter. Vivo Capital LLC now owns 5,094,668 shares of the company’s stock worth $46,616,000 after buying an additional 606,765 shares during the last quarter. Finally, Marshall Wace LLP boosted its holdings in shares of Trevi Therapeutics by 95.4% during the 3rd quarter. Marshall Wace LLP now owns 4,841,751 shares of the company’s stock worth $44,302,000 after buying an additional 2,363,835 shares during the period. 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.