HC Wainwright Issues Positive Forecast for Trevi Therapeutics (NASDAQ:TRVI) Stock Price

Key Points

• HC Wainwright raised its price target on Trevi Therapeutics to $24 from $21 while keeping a buy rating, implying about 25.9% upside from the prior close.
• Other analysts remain generally constructive on TRVI, with several firms issuing or reaffirming buy/overweight ratings and the stock carrying an overall Buy consensus with an average price target of $23.
• Trevi Therapeutics shares recently traded near $19.07, close to their 52-week high of $20.22, even as the company reported a recent quarterly EPS miss and is expected to post a full-year loss.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) had its target price upped by investment analysts at HC Wainwright from $21.00 to $24.00 in a research note issued to investors on Monday, Marketbeat.com reports. The brokerage presently has a "buy" rating on the stock. HC Wainwright's price target would suggest a potential upside of 25.85% from the company's previous close.

Several other brokerages also recently weighed in on TRVI. D. Boral Capital restated a "buy" rating and set a $19.00 price target on shares of Trevi Therapeutics in a report on Friday, April 17th. Needham & Company LLC reissued a "buy" rating and set a $23.00 price objective on shares of Trevi Therapeutics in a research report on Wednesday, May 20th. Stifel Nicolaus set a $30.00 target price on shares of Trevi Therapeutics in a research note on Friday, May 8th. Morgan Stanley reaffirmed an "overweight" rating and issued a $20.00 target price on shares of Trevi Therapeutics in a report on Wednesday, May 6th. Finally, Wall Street Zen upgraded shares of Trevi Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, June 20th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $23.00.

Trevi Therapeutics Price Performance

Shares of TRVI stock opened at $19.07 on Monday. The firm has a 50 day moving average of $15.85 and a two-hundred day moving average of $13.33. The stock has a market capitalization of $2.71 billion, a PE ratio of -59.59 and a beta of 1.00. Trevi Therapeutics has a 52 week low of $6.55 and a 52 week high of $20.22.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.09) earnings per share for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.02). Analysts expect that Trevi Therapeutics will post -0.47 EPS for the current fiscal year.

Institutional Trading of Trevi Therapeutics

A number of institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. raised its position in shares of Trevi Therapeutics by 194.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 4,536 shares of the company's stock worth $25,000 after acquiring an additional 2,996 shares in the last quarter. KBC Group NV acquired a new position in Trevi Therapeutics in the first quarter valued at approximately $29,000. Hilton Head Capital Partners LLC purchased a new position in Trevi Therapeutics in the fourth quarter valued at approximately $40,000. Caitong International Asset Management Co. Ltd purchased a new position in Trevi Therapeutics in the fourth quarter valued at approximately $50,000. Finally, Strs Ohio acquired a new stake in Trevi Therapeutics during the first quarter worth approximately $52,000. 95.76% of the stock is owned by hedge funds and other institutional investors.

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.

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