Trevi Therapeutics (NASDAQ:TRVI) Hits New 1-Year High - Time to Buy?

Trevi Therapeutics, Inc. (NASDAQ:TRVI - Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $7.74 and last traded at $7.56, with a volume of 1651847 shares traded. The stock had previously closed at $7.00.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on TRVI shares. Needham & Company LLC reissued a "buy" rating and set a $24.00 price target on shares of Trevi Therapeutics in a research report on Tuesday, May 20th. HC Wainwright assumed coverage on shares of Trevi Therapeutics in a research report on Wednesday, May 28th. They set a "buy" rating and a $21.00 price target on the stock. Wall Street Zen lowered shares of Trevi Therapeutics from a "hold" rating to a "sell" rating in a research note on Friday, June 6th. Cantor Fitzgerald assumed coverage on shares of Trevi Therapeutics in a research note on Tuesday, July 1st. They set an "overweight" rating and a $25.00 target price on the stock. Finally, Oppenheimer restated an "outperform" rating on shares of Trevi Therapeutics in a research note on Monday, June 2nd. 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. According to data from MarketBeat, Trevi Therapeutics presently has a consensus rating of "Buy" and an average target price of $20.88.

Trevi Therapeutics Stock Up 0.4%

The company's 50 day simple moving average is $6.35 and its 200 day simple moving average is $5.68.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.04. As a group, equities research analysts anticipate that Trevi Therapeutics, Inc. will post -0.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Trevi Therapeutics

A number of hedge funds have recently modified their holdings of TRVI. Charles Schwab Investment Management Inc. grew its position in shares of Trevi Therapeutics by 14.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 173,063 shares of the company's stock worth $713,000 after acquiring an additional 22,145 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Trevi Therapeutics during the fourth quarter worth approximately $49,000. American Century Companies Inc. grew its position in shares of Trevi Therapeutics by 44.7% during the fourth quarter. American Century Companies Inc. now owns 78,143 shares of the company's stock worth $322,000 after acquiring an additional 24,153 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Trevi Therapeutics by 120.5% during the fourth quarter. JPMorgan Chase & Co. now owns 221,664 shares of the company's stock worth $913,000 after acquiring an additional 121,147 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Trevi Therapeutics by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 1,299,322 shares of the company's stock worth $5,354,000 after acquiring an additional 35,156 shares during the last quarter. 95.76% of the stock is currently owned by hedge funds and other institutional investors.

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.