Trevi Therapeutics, Inc. (NASDAQ:TRVI) Stock Has Consensus Price Target of $27.08 According to Brokerages

Key Points

• Analysts are broadly positive on Trevi Therapeutics: Thirteen analysts give the stock a consensus “Moderate Buy” rating, with an average 12-month price target of $27.08 versus its reported $12.29 opening price.
• Recent analyst targets range from $23 to $40, although Weiss Ratings maintained a “sell” rating, highlighting differing views on the company’s outlook.
• Institutional ownership is substantial at 95.76%: Several institutions added shares during the second quarter, while a company director sold 39,473 shares, reducing his holdings by 86.14%.

Trevi Therapeutics, Inc. (NASDAQ:TRVI - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the thirteen analysts that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $27.08.

A number of research analysts have weighed in on the company. B. Riley Financial increased their target price on Trevi Therapeutics from $21.00 to $31.00 and gave the company a "buy" rating in a report on Monday, July 20th. Raymond James Financial restated a "strong-buy" rating and set a $40.00 price target on shares of Trevi Therapeutics in a research note on Friday, August 7th. Morgan Stanley restated an "overweight" rating and set a $23.00 price target on shares of Trevi Therapeutics in a research note on Friday, August 7th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Trevi Therapeutics in a research report on Wednesday, October 7th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Trevi Therapeutics in a research note on Friday, July 17th.

Trevi Therapeutics Price Performance

NASDAQ TRVI opened at $12.29 on Wednesday. The business's fifty day moving average price is $16.12 and its 200-day moving average price is $15.62. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of -36.15 and a beta of 0.98. Trevi Therapeutics has a 1-year low of $9.28 and a 1-year high of $20.22.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last released 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). Equities research analysts anticipate that Trevi Therapeutics will post -0.48 EPS for the current year.

Insider Activity

In related news, Director Michael Heffernan sold 39,473 shares of the business's stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $15.09, for a total transaction of $595,647.57. Following the completion of the sale, the director directly owned 6,351 shares in the company, valued at approximately $95,836.59. The trade was a 86.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 15.39% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. First Light Asset Management LLC purchased a new position in shares of Trevi Therapeutics during the 2nd quarter worth $39,113,000. WINTON GROUP Ltd purchased a new stake in shares of Trevi Therapeutics in the 2nd quarter worth $1,993,000. Arizona State Retirement System increased its stake in shares of Trevi Therapeutics by 12.9% in the 2nd quarter. Arizona State Retirement System now owns 26,434 shares of the company's stock worth $493,000 after purchasing an additional 3,019 shares in the last quarter. Amundi bought a new position in Trevi Therapeutics in the 2nd quarter worth $192,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Trevi Therapeutics by 18.8% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 183,225 shares of the company's stock worth $3,417,000 after purchasing an additional 29,057 shares during the period. 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 developing therapies for conditions involving chronic cough and other debilitating symptoms for which available treatment options are limited. The company's lead product candidate is Haduvio, an extended-release formulation of nalbuphine, an opioid receptor modulator being investigated as a potential treatment for chronic cough.

Trevi is evaluating Haduvio for chronic cough associated with idiopathic pulmonary fibrosis (IPF), a progressive lung disease, as well as refractory chronic cough, which persists despite treatment of underlying conditions.

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