Trevi Therapeutics (NASDAQ:TRVI) Hits New 52-Week High - Time to Buy?

Key Points

• Trevi Therapeutics shares reached a new 52-week high of $8.78, closing at $8.00 with a trading volume of approximately 9.5 million shares.
• Analysts have mixed ratings for Trevi Therapeutics, with two giving it a Strong Buy rating, while others have downgraded it to a sell, and a consensus target price of $20.11 is noted.
• The company recently reported earnings of ($0.09) per share, beating expectations, and has a market cap of $974.24 million with institutional investors owning over 95% of the stock.

Trevi Therapeutics, Inc. (NASDAQ:TRVI - Get Free Report) shares hit a new 52-week high on Thursday . The company traded as high as $8.78 and last traded at $8.00, with a volume of 9492965 shares changing hands. The stock had previously closed at $7.42.

Analyst Upgrades and Downgrades

Several analysts recently commented on TRVI shares. Wall Street Zen cut shares of Trevi Therapeutics from a "hold" rating to a "sell" rating in a report on Friday, June 6th. Cantor Fitzgerald initiated 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 for the company. D. Boral Capital restated a "buy" rating and set a $21.00 price target on shares of Trevi Therapeutics in a report on Monday, June 2nd. HC Wainwright initiated coverage on Trevi Therapeutics in a report on Wednesday, May 28th. They set a "buy" rating and a $21.00 price objective for the company. Finally, Oppenheimer restated an "outperform" rating on shares of Trevi Therapeutics in a research note on Monday, June 2nd. Two investment analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the stock. Based on data from MarketBeat.com, Trevi Therapeutics has an average rating of "Buy" and a consensus target price of $20.11.

Trevi Therapeutics Stock Performance

The firm has a market cap of $974.24 million, a price-to-earnings ratio of -19.05 and a beta of 0.58. The firm's 50 day moving average is $6.87 and its 200-day moving average is $6.22.

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

Institutional Investors Weigh In On Trevi Therapeutics

Large investors have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. raised its position in shares of Trevi Therapeutics by 19,064.5% in the second quarter. Alliancebernstein L.P. now owns 4,281,355 shares of the company's stock valued at $23,419,000 after purchasing an additional 4,259,015 shares during the period. Point72 Asset Management L.P. acquired a new position in Trevi Therapeutics in the 4th quarter valued at $17,099,000. Rubric Capital Management LP grew its stake in Trevi Therapeutics by 88.0% in the 2nd 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 during the last quarter. Octagon Capital Advisors LP bought a new position in Trevi Therapeutics in the 1st quarter worth $20,895,000. Finally, Frazier Life Sciences Management L.P. lifted its position in 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 acquiring an additional 3,283,684 shares during the last quarter. Institutional investors own 95.76% of the company's stock.

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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