Trevi Therapeutics' (TRVI) Buy Rating Reiterated at Needham & Company LLC

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report)'s stock had its "buy" rating reaffirmed by Needham & Company LLC in a report issued on Tuesday,Benzinga reports. They presently have a $24.00 price target on the stock. Needham & Company LLC's target price would suggest a potential upside of 281.56% from the stock's current price.

A number of other equities analysts have also weighed in on the stock. Oppenheimer upped their price target on shares of Trevi Therapeutics from $12.00 to $20.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 11th. Raymond James raised shares of Trevi Therapeutics from an "outperform" rating to a "strong-buy" rating and upped their target price for the stock from $9.00 to $29.00 in a report on Monday, March 10th. D. Boral Capital reissued a "buy" rating and set a $21.00 price target on shares of Trevi Therapeutics in a report on Wednesday, March 19th. HC Wainwright restated a "buy" rating and issued a $12.50 price objective on shares of Trevi Therapeutics in a research report on Wednesday, March 19th. Finally, B. Riley reiterated a "buy" rating and set a $20.00 target price (up previously from $11.00) on shares of Trevi Therapeutics in a research report on Wednesday, March 19th. Seven analysts have rated the stock with a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $17.56.

Trevi Therapeutics Trading Up 4.3%

TRVI stock traded up $0.26 during midday trading on Tuesday, hitting $6.29. The company's stock had a trading volume of 1,230,994 shares, compared to its average volume of 1,204,821. The firm's 50-day moving average is $6.27 and its 200-day moving average is $4.76. Trevi Therapeutics has a 12 month low of $2.30 and a 12 month high of $7.39. The company has a market cap of $628.33 million, a PE ratio of -14.30 and a beta of 0.62.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.13) by $0.04. Analysts expect that Trevi Therapeutics will post -0.49 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Jennifer L. Good sold 5,263 shares of the firm's stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $6.58, for a total value of $34,630.54. Following the transaction, the chief executive officer now owns 213,313 shares in the company, valued at $1,403,599.54. This trade represents a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Farrell Simon sold 81,313 shares of the company's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $6.75, for a total transaction of $548,862.75. Following the sale, the insider now directly owns 76,900 shares of the company's stock, valued at $519,075. The trade was a 51.39% decrease in their position. The disclosure for this sale can be found here. Insiders own 18.30% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Acorn Capital Advisors LLC raised its position in Trevi Therapeutics by 7.2% in the first quarter. Acorn Capital Advisors LLC now owns 2,144,844 shares of the company's stock valued at $13,491,000 after purchasing an additional 143,796 shares during the period. Exome Asset Management LLC acquired a new stake in shares of Trevi Therapeutics during the 1st quarter worth about $1,030,000. Octagon Capital Advisors LP acquired a new stake in shares of Trevi Therapeutics during the 1st quarter worth about $20,895,000. Fred Alger Management LLC purchased a new stake in Trevi Therapeutics in the 1st quarter valued at about $482,000. Finally, Polar Asset Management Partners Inc. acquired a new position in Trevi Therapeutics in the first quarter valued at 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.