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

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 - Free Report) had its price target reduced by Needham & Company LLC from $24.00 to $22.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts also recently issued reports about the company. Oppenheimer reiterated an "outperform" rating on shares of Trevi Therapeutics in a research report on Monday, June 2nd. Wall Street Zen lowered Trevi Therapeutics from a "hold" rating to a "sell" rating in a report on Friday, June 6th. Cantor Fitzgerald began coverage on Trevi Therapeutics in a report on Tuesday, July 1st. They issued an "overweight" rating and a $25.00 price objective for the company. D. Boral Capital restated a "buy" rating and issued a $21.00 price objective on shares of Trevi Therapeutics in a report on Monday, June 2nd. Finally, HC Wainwright started coverage on Trevi Therapeutics in a report on Wednesday, May 28th. They issued a "buy" rating and a $21.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $20.38.

Trevi Therapeutics Price Performance

Shares of NASDAQ TRVI traded up $0.07 during midday trading on Friday, hitting $7.40. 1,096,834 shares of the company's stock were exchanged, compared to its average volume of 1,833,063. The stock's 50 day moving average price is $6.60 and its 200-day moving average price is $5.97. The firm has a market cap of $867.36 million, a P/E ratio of -17.62 and a beta of 0.58. Trevi Therapeutics has a twelve month low of $2.36 and a twelve month high of $8.11.

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

Institutional Trading of Trevi Therapeutics

Several large investors have recently added to or reduced their stakes in the company. Rhumbline Advisers raised its stake in Trevi Therapeutics by 17.6% during the 2nd quarter. Rhumbline Advisers now owns 106,402 shares of the company's stock valued at $582,000 after purchasing an additional 15,920 shares during the period. AXQ Capital LP purchased a new position in shares of Trevi Therapeutics during the 2nd quarter valued at $227,000. Franklin Resources Inc. grew its holdings in shares of Trevi Therapeutics by 33.9% during the 2nd quarter. Franklin Resources Inc. now owns 49,918 shares of the company's stock valued at $273,000 after acquiring an additional 12,647 shares in the last quarter. Catalyst Funds Management Pty Ltd purchased a new position in shares of Trevi Therapeutics during the 2nd quarter valued at $56,000. Finally, Persistent Asset Partners Ltd grew its holdings in shares of Trevi Therapeutics by 3.3% during the 2nd quarter. Persistent Asset Partners Ltd now owns 42,788 shares of the company's stock valued at $234,000 after acquiring an additional 1,384 shares in the last quarter. 95.76% of the stock is owned by institutional investors and hedge funds.

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.