Trevi Therapeutics (NASDAQ:TRVI) Price Target Cut to $27.00 by Analysts at Raymond James Financial

Key Points

• Raymond James Financial has lowered its target price for Trevi Therapeutics from $29.00 to $27.00, maintaining a "strong-buy" rating and suggesting a potential upside of 276.31% from the last close.
• Other firms have also adjusted their ratings, with Needham & Company cutting their price target to $22.00 while Wall Street Zen downgraded the stock from "hold" to "sell."
• Trevi Therapeutics' stock is currently trading around $7.18, showing significant volatility with a fifty-two week low of $2.36 and a high of $8.11.

Trevi Therapeutics (NASDAQ:TRVI - Free Report) had its target price cut by Raymond James Financial from $29.00 to $27.00 in a research note published on Friday morning,Benzinga reports. They currently have a strong-buy rating on the stock.

A number of other analysts have also recently issued reports on TRVI. Cantor Fitzgerald initiated coverage on Trevi Therapeutics in a report on Tuesday, July 1st. They set an "overweight" rating and a $25.00 price objective on the stock. D. Boral Capital reissued a "buy" rating and set a $21.00 price objective on shares of Trevi Therapeutics in a report on Monday, June 2nd. Oppenheimer reissued an "outperform" rating on shares of Trevi Therapeutics in a report on Monday, June 2nd. Needham & Company LLC dropped their price objective on Trevi Therapeutics from $24.00 to $22.00 and set a "buy" rating on the stock in a report on Friday, August 8th. Finally, HC Wainwright initiated 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 given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $20.38.

Trevi Therapeutics Price Performance

Shares of Trevi Therapeutics stock traded up $0.21 during trading hours on Friday, hitting $7.54. 191,059 shares of the company's stock traded hands, compared to its average volume of 1,826,637. 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 $918.59 million, a price-to-earnings ratio of -17.96 and a beta of 0.58. The company has a fifty day simple moving average of $6.63 and a 200-day simple moving average of $5.98.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. raised its position in shares of Trevi Therapeutics by 194.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 4,536 shares of the company's stock worth $25,000 after purchasing an additional 2,996 shares during the last quarter. Summit Investment Advisors Inc. lifted its stake in shares of Trevi Therapeutics by 84.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 6,332 shares of the company's stock worth $26,000 after buying an additional 2,894 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Trevi Therapeutics by 15,969.1% during the second quarter. Farther Finance Advisors LLC now owns 8,838 shares of the company's stock valued at $48,000 after buying an additional 8,783 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Trevi Therapeutics during the fourth quarter valued at approximately $49,000. Finally, Strs Ohio purchased a new stake in shares of Trevi Therapeutics during the first quarter valued at approximately $52,000. 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.