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 price objective lowered by Raymond James Financial from $29.00 to $27.00 in a research note published on Friday,Benzinga reports. Raymond James Financial currently has a strong-buy rating on the stock.

Several other equities analysts have also weighed in on the company. HC Wainwright began coverage on Trevi Therapeutics in a report on Wednesday, May 28th. They set a "buy" rating and a $21.00 target price on the stock. Oppenheimer restated an "outperform" rating on shares of Trevi Therapeutics in a 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. Needham & Company LLC lowered their price target on Trevi Therapeutics from $24.00 to $22.00 and set a "buy" rating on the stock in a research report on Friday. Finally, Cantor Fitzgerald began coverage on Trevi Therapeutics in a research report on Tuesday, July 1st. They issued an "overweight" rating and a $25.00 price target on the stock. One research analyst has rated the stock with a sell rating, seven have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Trevi Therapeutics presently has a consensus rating of "Buy" and an average target price of $20.38.

Trevi Therapeutics Trading Up 0.6%

NASDAQ TRVI traded up $0.04 during trading on Friday, hitting $7.36. 126,937 shares of the company traded hands, compared to its average volume of 1,826,980. Trevi Therapeutics has a 12 month low of $2.36 and a 12 month high of $8.11. The business has a fifty day simple moving average of $6.60 and a 200 day simple moving average of $5.97. The company has a market capitalization of $863.61 million, a P/E ratio of -17.55 and a beta of 0.58.

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

Institutional Investors Weigh In On Trevi Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Summit Investment Advisors Inc. grew its position 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 buying an additional 2,894 shares in the last quarter. Farther Finance Advisors LLC grew its position in Trevi Therapeutics by 15,969.1% during the second quarter. Farther Finance Advisors LLC now owns 8,838 shares of the company's stock worth $48,000 after buying an additional 8,783 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Trevi Therapeutics during the fourth quarter worth about $49,000. Strs Ohio acquired a new stake in Trevi Therapeutics during the first quarter worth about $52,000. Finally, Catalyst Funds Management Pty Ltd acquired a new stake in Trevi Therapeutics during the second quarter worth about $56,000. 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.