Trevi Therapeutics (NASDAQ:TRVI) Hits New 12-Month High - Should You 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.

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. 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 objective on the stock. Needham & Company LLC decreased their price objective on Trevi Therapeutics from $24.00 to $22.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Wall Street Zen downgraded Trevi Therapeutics from a "hold" rating to a "sell" rating in a report on Friday, June 6th. Raymond James Financial decreased their price target on shares of Trevi Therapeutics from $29.00 to $27.00 and set a "strong-buy" rating for the company in a report on Friday, August 8th. Finally, Oppenheimer reaffirmed an "outperform" rating on shares of Trevi Therapeutics in a research report on Monday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. According to data from MarketBeat, Trevi Therapeutics has an average rating of "Buy" and a consensus price target of $21.75.

Trevi Therapeutics Trading Up 12.3%

The business's fifty day moving average price is $7.17 and its two-hundred day moving average price is $6.43. The firm has a market cap of $1.15 billion, a P/E ratio of -22.37 and a beta of 0.71.

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 the consensus estimate of ($0.10) by $0.01. Research analysts predict that Trevi Therapeutics, Inc. will post -0.49 EPS for the current fiscal year.

Institutional Investors Weigh In On Trevi Therapeutics

Hedge funds have recently bought and sold shares of the company. Alliancebernstein L.P. grew its position in Trevi Therapeutics by 19,064.5% in the 2nd quarter. Alliancebernstein L.P. now owns 4,281,355 shares of the company's stock worth $23,419,000 after purchasing an additional 4,259,015 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Trevi Therapeutics in the fourth quarter valued at about $17,099,000. Rubric Capital Management LP raised its position 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 worth $46,669,000 after purchasing an additional 3,993,325 shares in the last quarter. Octagon Capital Advisors LP acquired a new position in shares of Trevi Therapeutics in the 1st quarter worth approximately $20,895,000. Finally, Frazier Life Sciences Management L.P. lifted its position in shares of Trevi Therapeutics by 44.5% during the 4th quarter. Frazier Life Sciences Management L.P. now owns 10,664,774 shares of the company's stock worth $43,939,000 after buying an additional 3,283,684 shares during the period. 95.76% of the stock is currently owned by institutional investors.

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.

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