Needham & Company LLC Lowers Trevi Therapeutics (NASDAQ:TRVI) Price Target to $22.00

Key Points

• Needham & Company LLC has lowered its price target for Trevi Therapeutics (NASDAQ:TRVI) from $24.00 to $22.00, while maintaining a "buy" rating.
• Other analysts have mixed views on the stock, with ratings ranging from "sell" to "strong buy," and a consensus target price of $20.63.
• Trevi Therapeutics reported earnings of ($0.09) per share for the last quarter, exceeding analysts' expectations of ($0.10).

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) had its target price cut by analysts at Needham & Company LLC from $24.00 to $22.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. Needham & Company LLC's price target points to a potential upside of 201.37% from the stock's current price.

Other research analysts have also issued reports about the stock. Oppenheimer reaffirmed an "outperform" rating on shares of Trevi Therapeutics in a research note on Monday, June 2nd. D. Boral Capital restated a "buy" rating and issued a $21.00 target price on shares of Trevi Therapeutics in a research report on Monday, June 2nd. Cantor Fitzgerald began coverage on Trevi Therapeutics in a research report on Tuesday, July 1st. They set an "overweight" rating and a $25.00 price target for the company. Wall Street Zen lowered Trevi Therapeutics from a "hold" rating to a "sell" rating in a report on Friday, June 6th. Finally, HC Wainwright assumed coverage on shares of Trevi Therapeutics in a report on Wednesday, May 28th. They set a "buy" rating and a $21.00 target price for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $20.63.

Trevi Therapeutics Price Performance

Trevi Therapeutics stock opened at $7.30 on Friday. Trevi Therapeutics has a 12 month low of $2.36 and a 12 month high of $8.11. The stock has a market capitalization of $856.22 million, a PE ratio of -16.22 and a beta of 0.58. The business has a 50 day simple moving average of $6.56 and a 200-day simple moving average of $5.89.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.09) earnings per share for the quarter, topping analysts' consensus estimates of ($0.10) by $0.01. On average, equities research analysts anticipate that Trevi Therapeutics will post -0.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Trevi Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Summit Investment Advisors Inc. lifted its stake in Trevi Therapeutics by 84.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,332 shares of the company's stock worth $26,000 after purchasing an additional 2,894 shares during the last quarter. Farther Finance Advisors LLC lifted its position in Trevi Therapeutics by 15,969.1% during the 2nd quarter. Farther Finance Advisors LLC now owns 8,838 shares of the company's stock worth $48,000 after acquiring an additional 8,783 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Trevi Therapeutics during the fourth quarter worth about $49,000. Strs Ohio acquired a new stake in shares of Trevi Therapeutics in the 1st quarter valued at approximately $52,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Trevi Therapeutics during the 4th quarter worth $58,000. Hedge funds and other institutional investors own 95.76% of the company's stock.

Trevi Therapeutics Company Profile

Trevi Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapy Haduvio for the treatment of chronic cough in idiopathic pulmonary fibrosis (IPF) and refractory chronic cough (RCC) conditions targeting the central and peripheral nervous systems.

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