Trevi Therapeutics, Inc. (NASDAQ:TRVI) Receives Consensus Recommendation of "Buy" from Analysts

Key Points

• Analysts broadly favor Trevi Therapeutics: The stock has a consensus “Buy” rating from 13 firms, with 10 buys, two strong buys and one sell. The average 12-month price target is $27.08, above its reported share price of $18.08.
• Institutional ownership is substantial: Institutional investors own 95.76% of Trevi’s stock, with Millennium Management increasing its position by more than 350% during the first quarter.
• Trevi reported quarterly EPS of -$0.11, in line with analyst estimates, while analysts expect a full-year loss of approximately $0.48 per share. The clinical-stage biotech is developing non-opioid pain treatments, including a tetrodotoxin-based therapy.

Trevi Therapeutics, Inc. (NASDAQ:TRVI - Get Free Report) has been given a consensus rating of "Buy" by the thirteen ratings firms that are covering the company, MarketBeat reports. One 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 1 year price target among analysts that have covered the stock in the last year is $27.0833.

A number of equities analysts recently weighed in on TRVI shares. BMO Capital Markets began coverage on shares of Trevi Therapeutics in a report on Monday, July 20th. They issued an "outperform" rating and a $36.00 target price on the stock. Stifel Nicolaus set a $30.00 price target on shares of Trevi Therapeutics in a research report on Friday, May 8th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Trevi Therapeutics in a report on Friday, July 17th. Morgan Stanley reissued an "overweight" rating and issued a $23.00 price objective on shares of Trevi Therapeutics in a research report on Friday, August 7th. Finally, JonesTrading boosted their price objective on Trevi Therapeutics from $24.00 to $28.00 and gave the company a "buy" rating in a research note on Friday, August 14th.

Institutional Investors Weigh In On Trevi Therapeutics

A number of hedge funds have recently added to or reduced their stakes in TRVI. AQR Capital Management LLC boosted its holdings in shares of Trevi Therapeutics by 20.4% during the 1st quarter. AQR Capital Management LLC now owns 27,720 shares of the company's stock worth $174,000 after buying an additional 4,688 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Trevi Therapeutics by 31.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,143 shares of the company's stock worth $278,000 after buying an additional 10,445 shares during the period. Millennium Management LLC grew its position in shares of Trevi Therapeutics by 356.3% during the 1st quarter. Millennium Management LLC now owns 823,249 shares of the company's stock worth $5,178,000 after buying an additional 642,830 shares during the period. Strs Ohio bought a new stake in shares of Trevi Therapeutics in the 1st quarter valued at $52,000. Finally, Creative Planning increased its stake in shares of Trevi Therapeutics by 17.5% in the 2nd quarter. Creative Planning now owns 20,247 shares of the company's stock valued at $111,000 after acquiring an additional 3,016 shares in the last quarter. 95.76% of the stock is currently owned by institutional investors.

Trevi Therapeutics Stock Performance

NASDAQ:TRVI opened at $18.08 on Tuesday. Trevi Therapeutics has a fifty-two week low of $6.93 and a fifty-two week high of $20.22. The company has a 50 day simple moving average of $17.96 and a two-hundred day simple moving average of $14.61. The company has a market capitalization of $2.58 billion, a PE ratio of -53.18 and a beta of 1.03.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.11). Research analysts predict that Trevi Therapeutics will post -0.48 EPS for the current year.

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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