Needham & Company LLC Reaffirms "Buy" Rating for Trevi Therapeutics (NASDAQ:TRVI)

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report)'s stock had its "buy" rating reissued by Needham & Company LLC in a research report issued on Tuesday,Benzinga reports. They presently have a $24.00 price target on the stock. Needham & Company LLC's price target points to a potential upside of 269.80% from the company's current price.

Other analysts have also issued research reports about the company. D. Boral Capital restated a "buy" rating and issued a $21.00 price objective on shares of Trevi Therapeutics in a research note on Wednesday, March 19th. Raymond James raised Trevi Therapeutics from an "outperform" rating to a "strong-buy" rating and boosted their target price for the stock from $9.00 to $29.00 in a report on Monday, March 10th. Oppenheimer raised their price target on Trevi Therapeutics from $12.00 to $20.00 and gave the company an "outperform" rating in a report on Tuesday, March 11th. B. Riley reiterated a "buy" rating and issued a $20.00 price objective (up from $11.00) on shares of Trevi Therapeutics in a report on Wednesday, March 19th. Finally, HC Wainwright reissued a "buy" rating and issued a $12.50 price objective on shares of Trevi Therapeutics in a research report on Wednesday, March 19th. Seven investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $17.56.

Trevi Therapeutics Trading Down 0.2%

Shares of TRVI opened at $6.49 on Tuesday. The company's fifty day simple moving average is $6.29 and its 200 day simple moving average is $4.68. Trevi Therapeutics has a 1-year low of $2.30 and a 1-year high of $7.39. The company has a market cap of $648.31 million, a price-to-earnings ratio of -14.75 and a beta of 0.62.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.04. As a group, research analysts forecast that Trevi Therapeutics will post -0.49 earnings per share for the current year.

Insider Activity at Trevi Therapeutics

In other news, insider Farrell Simon sold 81,313 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $6.75, for a total transaction of $548,862.75. Following the transaction, the insider now directly owns 76,900 shares of the company's stock, valued at approximately $519,075. This trade represents a 51.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jennifer L. Good sold 5,263 shares of Trevi Therapeutics stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $6.58, for a total transaction of $34,630.54. Following the completion of the sale, the chief executive officer now owns 213,313 shares of the company's stock, valued at approximately $1,403,599.54. The trade was a 2.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Trevi Therapeutics

A number of large investors have recently added to or reduced their stakes in TRVI. Acorn Capital Advisors LLC raised its holdings in Trevi Therapeutics by 7.2% in the 1st quarter. Acorn Capital Advisors LLC now owns 2,144,844 shares of the company's stock valued at $13,491,000 after acquiring an additional 143,796 shares in the last quarter. Exome Asset Management LLC bought a new position in shares of Trevi Therapeutics in the first quarter worth $1,030,000. Octagon Capital Advisors LP acquired a new position in Trevi Therapeutics in the first quarter valued at about $20,895,000. Fred Alger Management LLC bought a new stake in Trevi Therapeutics during the first quarter worth about $482,000. Finally, Polar Asset Management Partners Inc. bought a new stake in Trevi Therapeutics during the first quarter worth about $403,000. Institutional investors and hedge funds own 95.76% of the company's stock.

About Trevi Therapeutics

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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