Brokerages Set Trevi Therapeutics, Inc. (NASDAQ:TRVI) Target Price at $21.75

Key Points

• Trevi Therapeutics has received a consensus rating of "Buy" from eight brokerages, with an average 1-year target price set at $21.75.
• Institutional investors hold the majority of Trevi's stock, with 95.76% owned by hedge funds and other institutions, reflecting significant investor confidence.
• The company's latest earnings report showed an EPS of ($0.09), beating consensus estimates, and forecasts indicate a projected EPS of ($0.49) for the current fiscal year.

Trevi Therapeutics, Inc. (NASDAQ:TRVI - Get Free Report) has earned a consensus rating of "Buy" from the eight research firms that are presently covering the company, MarketBeat reports. Seven equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $21.75.

Several analysts have recently issued reports on the company. Cantor Fitzgerald assumed coverage on Trevi Therapeutics in a research report on Tuesday, July 1st. They issued an "overweight" rating and a $25.00 price objective on the stock. Morgan Stanley assumed coverage on Trevi Therapeutics in a research report on Thursday, August 21st. They issued an "overweight" rating and a $18.00 price objective on the stock. Oppenheimer restated an "outperform" rating on shares of Trevi Therapeutics in a research report on Monday, June 2nd. D. Boral Capital restated a "buy" rating and issued a $21.00 price objective on shares of Trevi Therapeutics in a research report on Monday, June 2nd. Finally, HC Wainwright began coverage on Trevi Therapeutics in a research report on Wednesday, May 28th. They issued a "buy" rating and a $21.00 price objective on the stock.

Trevi Therapeutics Price Performance

TRVI traded down $1.50 during trading on Tuesday, reaching $8.25. 3,619,982 shares of the stock were exchanged, compared to its average volume of 2,887,783. The business's 50 day moving average price is $7.36 and its two-hundred day moving average price is $6.55. The company has a market capitalization of $1.00 billion, a price-to-earnings ratio of -19.64 and a beta of 0.71. Trevi Therapeutics has a 1 year low of $2.36 and a 1 year high of $9.92.

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

Hedge Funds Weigh In On Trevi Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. Frazier Life Sciences Management L.P. increased its stake in Trevi Therapeutics by 44.5% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 10,664,774 shares of the company's stock valued at $43,939,000 after purchasing an additional 3,283,684 shares during the last quarter. Rubric Capital Management LP increased its stake in Trevi Therapeutics by 88.0% in the second quarter. Rubric Capital Management LP now owns 8,531,860 shares of the company's stock valued at $46,669,000 after purchasing an additional 3,993,325 shares during the last quarter. Vivo Capital LLC increased its stake in Trevi Therapeutics by 28.7% during the second quarter. Vivo Capital LLC now owns 4,487,903 shares of the company's stock worth $24,549,000 after acquiring an additional 1,000,000 shares during the last quarter. Alliancebernstein L.P. increased its stake in Trevi Therapeutics by 19,064.5% during the second quarter. Alliancebernstein L.P. now owns 4,281,355 shares of the company's stock worth $23,419,000 after acquiring an additional 4,259,015 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in Trevi Therapeutics during the fourth quarter worth about $17,099,000. 95.76% of the stock is currently 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.