Trevi Therapeutics (NASDAQ:TRVI) Earns Overweight Rating from Analysts at Morgan Stanley

Key Points

• Analysts at Morgan Stanley have initiated coverage of Trevi Therapeutics with an "overweight" rating and set a price target of $18.00, indicating a potential upside of 142.59%.
• Other analysts have diverse views, with Cantor Fitzgerald also providing an "overweight" rating but a higher target of $25.00, while Wall Street Zen downgraded the stock to a "sell" rating.
• Currently, Trevi Therapeutics has a market capitalization of $903.61 million, and its shares range between a 52-week low of $2.36 and a high of $8.11.

Morgan Stanley initiated coverage on shares of Trevi Therapeutics (NASDAQ:TRVI - Free Report) in a report released on Thursday morning, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $18.00 price target on the stock.

Several other research analysts also recently weighed in on the stock. Wall Street Zen downgraded shares of Trevi Therapeutics from a "hold" rating to a "sell" rating in a research report on Friday, June 6th. D. Boral Capital reissued a "buy" rating and issued a $21.00 target price on shares of Trevi Therapeutics in a research report on Monday, June 2nd. Oppenheimer reissued an "outperform" rating on shares of Trevi Therapeutics in a research report on Monday, June 2nd. HC Wainwright assumed coverage on shares of Trevi Therapeutics in a research report on Wednesday, May 28th. They issued a "buy" rating and a $21.00 target price on the stock. Finally, Needham & Company LLC dropped their target price on shares of Trevi Therapeutics from $24.00 to $22.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. Two research analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $20.11.

Trevi Therapeutics Trading Down 3.6%

Shares of NASDAQ TRVI traded down $0.27 during mid-day trading on Thursday, reaching $7.28. The company had a trading volume of 1,215,940 shares, compared to its average volume of 1,806,823. The stock has a market cap of $886.56 million, a PE ratio of -17.33 and a beta of 0.58. The company has a 50-day moving average price of $6.79 and a two-hundred day moving average price of $6.18. Trevi Therapeutics has a 1-year low of $2.36 and a 1-year high of $8.11.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. increased its position in Trevi Therapeutics by 194.5% during the second quarter. Russell Investments Group Ltd. now owns 4,536 shares of the company's stock worth $25,000 after buying an additional 2,996 shares during the last quarter. Summit Investment Advisors Inc. increased 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 during the last quarter. Farther Finance Advisors LLC increased 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 during the last quarter. Raymond James Financial Inc. acquired a new position in Trevi Therapeutics during the fourth quarter worth $49,000. Finally, Strs Ohio acquired a new position in Trevi Therapeutics during the first quarter worth $52,000. Hedge funds and other institutional investors 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.