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

Key Points

• JonesTrading raised Trevi Therapeutics’ price target to $28 from $24 and maintained a “buy” rating, implying approximately 54% upside from the reported $18.15 share price.
• Analyst sentiment is broadly positive: Trevi has an average “Buy” rating and a consensus price target of $27.08, though ratings range from “Strong Buy” to “Sell.”
• Trevi reported quarterly earnings in line with expectations at a loss of $0.11 per share, while institutional investors own 95.76% of the stock; the company is developing non-opioid pain treatments, including a tetrodotoxin-based lead candidate.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) had its target price hoisted by research analysts at JonesTrading from $24.00 to $28.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a "buy" rating on the stock. JonesTrading's price target indicates a potential upside of 54.27% from the company's current price.

A number of other equities analysts have also recently commented on TRVI. D. Boral Capital reaffirmed a "buy" rating and issued a $19.00 price target on shares of Trevi Therapeutics in a research note on Friday, April 17th. Wall Street Zen cut Trevi Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, July 25th. Cantor Fitzgerald boosted their target price on shares of Trevi Therapeutics from $25.00 to $30.00 and gave the company an "overweight" rating in a report on Friday, August 7th. BMO Capital Markets began coverage on Trevi Therapeutics in a research report on Monday, July 20th. They issued an "outperform" rating and a $36.00 price target on the stock. Finally, HC Wainwright increased their target price on Trevi Therapeutics from $21.00 to $24.00 and gave the stock a "buy" rating in a research note on Monday, July 20th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Trevi Therapeutics presently has an average rating of "Buy" and a consensus target price of $27.08.

Trevi Therapeutics Stock Up 2.4%

NASDAQ TRVI opened at $18.15 on Friday. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of -53.38 and a beta of 1.03. The stock's 50-day simple moving average is $17.30 and its two-hundred day simple moving average is $14.24. Trevi Therapeutics has a twelve month low of $6.93 and a twelve month high of $20.22.

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

Hedge Funds Weigh In On Trevi Therapeutics

A number of hedge funds have recently bought and sold shares of TRVI. Russell Investments Group Ltd. grew its stake in shares of Trevi Therapeutics by 194.5% in the second 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 during the period. KBC Group NV bought a new stake in Trevi Therapeutics in the 1st quarter worth approximately $29,000. Hilton Head Capital Partners LLC purchased a new stake in Trevi Therapeutics during the 4th quarter valued at $40,000. Caitong International Asset Management Co. Ltd purchased a new stake in Trevi Therapeutics during the 4th quarter valued at $50,000. Finally, Strs Ohio bought a new position in shares of Trevi Therapeutics during the 1st quarter valued at $52,000. Hedge funds and other institutional investors 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.

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