Cantor Fitzgerald Forecasts Strong Price Appreciation for Trevi Therapeutics (NASDAQ:TRVI) Stock

Key Points

• Cantor Fitzgerald raised Trevi Therapeutics’ price target to $30 from $25 and maintained an “overweight” rating, implying 62.16% upside from the reported $18.50 share price.
• Analyst sentiment is broadly positive: Trevi has an average “Buy” rating and a consensus price target of $25.33, with recent targets ranging from $19 to $36.
• Institutional ownership stands at 95.76%, while the company reported quarterly EPS of negative $0.11 in line with estimates. Trevi is developing non-opioid pain treatments, including a tetrodotoxin-based therapy for cancer-related pain and peripheral neuropathy.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) had its target price increased by investment analysts at Cantor Fitzgerald from $25.00 to $30.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Cantor Fitzgerald's price target would suggest a potential upside of 62.16% from the company's current price.

Other analysts have also issued research reports about the company. BMO Capital Markets began coverage on Trevi Therapeutics in a research note on Monday, July 20th. They issued an "outperform" rating and a $36.00 price objective on the stock. D. Boral Capital reaffirmed a "buy" rating and set a $19.00 price target on shares of Trevi Therapeutics in a research note on Friday, April 17th. HC Wainwright lifted their price objective on Trevi Therapeutics from $21.00 to $24.00 and gave the stock a "buy" rating in a research report on Monday, July 20th. Raymond James Financial restated a "strong-buy" rating on shares of Trevi Therapeutics in a research note on Friday. Finally, B. Riley Financial raised their price target on shares of Trevi Therapeutics from $21.00 to $31.00 and gave the company a "buy" rating in a research report on Monday, July 20th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $25.33.

Trevi Therapeutics Trading Down 0.8%

TRVI stock opened at $18.50 on Friday. The stock has a market cap of $2.63 billion, a PE ratio of -57.81 and a beta of 1.03. The stock has a 50-day moving average price of $16.88 and a two-hundred day moving average price of $13.97. Trevi Therapeutics has a 1 year low of $6.55 and a 1 year high of $20.22.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.11) EPS for the quarter, hitting analysts' consensus estimates of ($0.11). On average, analysts forecast that Trevi Therapeutics will post -0.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. 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 valued at $46,669,000 after buying an additional 3,993,325 shares during the last quarter. Vanguard Group Inc. raised its position 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 worth $80,562,000 after acquiring an additional 607,669 shares in the last quarter. Viking Global Investors LP raised its holdings 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 purchasing an additional 3,585,875 shares in the last quarter. Vivo Capital LLC lifted its position in Trevi Therapeutics by 13.5% during the 3rd quarter. Vivo Capital LLC now owns 5,094,668 shares of the company's stock valued at $46,616,000 after acquiring an additional 606,765 shares during the period. Finally, Marshall Wace LLP boosted its position in shares of Trevi Therapeutics by 95.4% in the 3rd quarter. Marshall Wace LLP now owns 4,841,751 shares of the company's stock worth $44,302,000 after purchasing an additional 2,363,835 shares in the last quarter. 95.76% of the stock is currently owned by institutional investors.

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.

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