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

Key Points

• Trevi Therapeutics' stock recently reached a new 52-week high at $9.30, currently trading at $8.93 with a significant trading volume of over 1 million shares.
• Analysts have varying ratings for Trevi, with a consensus average rating of "Buy" and a price target of $21.75, with some analysts setting targets as high as $29.00.
• The company is focused on developing Haduvio, a therapy for chronic cough conditions targeting the central and peripheral nervous systems.

Shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $9.30 and last traded at $8.93, with a volume of 1068329 shares traded. The stock had previously closed at $8.42.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TRVI. 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 report on Friday, August 8th. Cantor Fitzgerald began coverage on shares of Trevi Therapeutics in a report on Tuesday, July 1st. They issued an "overweight" rating and a $25.00 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 cut shares of Trevi Therapeutics from a "hold" rating to a "sell" rating in a report on Friday, June 6th. Finally, D. Boral Capital restated a "buy" rating and issued a $21.00 target price on shares of Trevi Therapeutics in a report on Monday, June 2nd. One analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $21.75.

Trevi Therapeutics Stock Performance

The stock has a market capitalization of $981.55 million, a P/E ratio of -19.19 and a beta of 0.71. The company's 50-day moving average price is $7.36 and its 200 day moving average price is $6.55.

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

Institutional Trading of Trevi Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of TRVI. Russell Investments Group Ltd. increased its holdings in Trevi Therapeutics by 194.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 4,536 shares of the company's stock valued at $25,000 after acquiring an additional 2,996 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in Trevi Therapeutics by 15,969.1% in the 2nd quarter. Farther Finance Advisors LLC now owns 8,838 shares of the company's stock valued at $48,000 after acquiring an additional 8,783 shares during the last quarter. Strs Ohio bought a new stake in Trevi Therapeutics in the 1st quarter valued at $52,000. Catalyst Funds Management Pty Ltd bought a new stake in Trevi Therapeutics in the 2nd quarter valued at $56,000. Finally, Squarepoint Ops LLC bought a new stake in Trevi Therapeutics in the 4th quarter valued at $58,000. 95.76% of the stock is currently owned by 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.