Trevi Therapeutics, Inc. (NASDAQ:TRVI) Receives Average Rating of "Buy" from Analysts

Key Points

• Analysts broadly favor Trevi Therapeutics: Twelve brokerages give the stock a consensus “Buy” rating, with nine buys, two strong buys and one sell. The average 12-month price target is $24.91, above the reported $18.40 share price.
• Institutional ownership is substantial: Hedge funds and other institutional investors own 95.76% of the company, with several major investors recently increasing their positions, including Rubric Capital, Vanguard and Viking Global Investors.
• Trevi remains a loss-making clinical-stage biotech: The company missed its latest quarterly EPS estimate, reporting a loss of $0.09 per share versus the expected $0.07 loss, while developing non-opioid pain treatments led by its tetrodotoxin-based candidate.

Shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI - Get Free Report) have been given a consensus recommendation of "Buy" by the twelve brokerages that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, nine have given a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $24.9091.

A number of brokerages have recently issued reports on TRVI. B. Riley Financial increased their price target on shares of Trevi Therapeutics from $21.00 to $31.00 and gave the company a "buy" rating in a report on Monday, July 20th. BMO Capital Markets began coverage on shares of Trevi Therapeutics in a report on Monday, July 20th. They set an "outperform" rating and a $36.00 price objective on the stock. D. Boral Capital restated a "buy" rating and set a $19.00 target price on shares of Trevi Therapeutics in a research report on Friday, April 17th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Trevi Therapeutics in a report on Friday, July 17th. Finally, Stifel Nicolaus set a $30.00 price target on shares of Trevi Therapeutics in a research report on Friday, May 8th.

Institutional Trading of Trevi Therapeutics

A number of institutional investors have recently bought and sold shares of TRVI. Rubric Capital Management LP increased its position in shares of 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 buying an additional 3,993,325 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Trevi Therapeutics by 10.4% during the 4th quarter. Vanguard Group Inc. now owns 6,434,655 shares of the company's stock worth $80,562,000 after buying an additional 607,669 shares during the last quarter. Viking Global Investors LP boosted its position in shares of Trevi Therapeutics by 232.4% in the 3rd quarter. Viking Global Investors LP now owns 5,128,875 shares of the company's stock worth $46,929,000 after buying an additional 3,585,875 shares in the last quarter. Vivo Capital LLC boosted its position in shares of Trevi Therapeutics by 13.5% in the 3rd quarter. Vivo Capital LLC now owns 5,094,668 shares of the company's stock worth $46,616,000 after buying an additional 606,765 shares in the last quarter. Finally, Marshall Wace LLP grew its stake in Trevi Therapeutics by 95.4% in the 3rd quarter. Marshall Wace LLP now owns 4,841,751 shares of the company's stock valued at $44,302,000 after acquiring an additional 2,363,835 shares during the last quarter. 95.76% of the stock is currently owned by hedge funds and other institutional investors.

Trevi Therapeutics Price Performance

TRVI opened at $18.40 on Friday. Trevi Therapeutics has a 12 month low of $6.55 and a 12 month high of $20.22. The stock has a market capitalization of $2.61 billion, a P/E ratio of -57.50 and a beta of 1.00. The business has a 50 day simple moving average of $16.47 and a 200-day simple moving average of $13.71.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.09) earnings per share for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.02). Research analysts anticipate that Trevi Therapeutics will post -0.47 EPS for the current year.

About Trevi Therapeutics

Trevi Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the development of novel non-opioid therapies for the management of chronic and acute pain. The company leverages proprietary drug delivery platforms and targeted molecular approaches to address high unmet needs in cancer-related pain, chemotherapy-induced neuropathy and other severe pain conditions.

Its lead product candidate is a proprietary formulation of tetrodotoxin (TTX), a sodium-channel blocking agent being evaluated in early-stage clinical trials for moderate-to-severe pain associated with advanced cancer and peripheral neuropathy.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.