B. Riley Financial Issues Positive Forecast for Trevi Therapeutics (NASDAQ:TRVI) Stock Price

Key Points

• B. Riley Financial raised its price target on Trevi Therapeutics from $21 to $31 and kept a buy rating, implying about 64% upside from the current share price.
• Other analysts remain mixed but generally positive: Trevi now has a Moderate Buy consensus with a $23.80 average price target, though Weiss Ratings reiterated a sell rating.
• Trevi Therapeutics is a clinical-stage biopharmaceutical company focused on non-opioid pain treatments, but it recently reported a quarterly EPS miss and the stock was trading down 0.9% at $18.91.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) had its price target hoisted by analysts at B. Riley Financial from $21.00 to $31.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. B. Riley Financial's target price would suggest a potential upside of 63.97% from the company's current price.

Several other equities analysts have also recently weighed in on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Trevi Therapeutics in a research note on Friday. Stifel Nicolaus set a $30.00 target price on Trevi Therapeutics in a research report on Friday, May 8th. Wall Street Zen upgraded Trevi Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, June 20th. Needham & Company LLC reissued a "buy" rating and set a $23.00 price target on shares of Trevi Therapeutics in a research report on Wednesday, May 20th. Finally, HC Wainwright boosted their price target on Trevi Therapeutics from $21.00 to $24.00 and gave the stock a "buy" rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Trevi Therapeutics has a consensus rating of "Moderate Buy" and a consensus price target of $23.80.

Trevi Therapeutics Trading Down 0.9%

Shares of NASDAQ TRVI opened at $18.91 on Monday. The firm has a market cap of $2.68 billion, a PE ratio of -59.38 and a beta of 1.00. Trevi Therapeutics has a 1-year low of $6.55 and a 1-year high of $20.22. The company has a fifty day moving average price of $15.85 and a 200 day moving average price of $13.33.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.02). Equities research analysts forecast that Trevi Therapeutics will post -0.47 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Rubric Capital Management LP boosted 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 worth $46,669,000 after acquiring an additional 3,993,325 shares during the period. Vanguard Group Inc. lifted its holdings in Trevi Therapeutics by 10.4% during the 4th quarter. Vanguard Group Inc. now owns 6,434,655 shares of the company's stock worth $80,562,000 after purchasing an additional 607,669 shares during the last quarter. Viking Global Investors LP lifted its holdings in Trevi Therapeutics by 232.4% during the 3rd 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 last quarter. Vivo Capital LLC boosted its stake in Trevi Therapeutics by 13.5% in the 3rd quarter. Vivo Capital LLC now owns 5,094,668 shares of the company's stock valued at $46,616,000 after purchasing an additional 606,765 shares during the period. Finally, Marshall Wace LLP boosted its stake in Trevi Therapeutics by 95.4% in the 3rd 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 period. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.