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

Trevi Therapeutics, Inc. (NASDAQ:TRVI - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $7.40 and last traded at $6.97, with a volume of 552125 shares. The stock had previously closed at $6.51.

Analysts Set New Price Targets

A number of research analysts recently issued reports on TRVI shares. HC Wainwright started coverage on shares of Trevi Therapeutics in a research note on Wednesday, May 28th. They issued a "buy" rating and a $21.00 price target for the company. D. Boral Capital restated a "buy" rating and set a $21.00 price objective on shares of Trevi Therapeutics in a research report on Monday. Raymond James upgraded shares of Trevi Therapeutics from an "outperform" rating to a "strong-buy" rating and boosted their price objective for the stock from $9.00 to $29.00 in a research report on Monday, March 10th. Oppenheimer boosted their price objective on shares of Trevi Therapeutics from $12.00 to $20.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 11th. Finally, Needham & Company LLC restated a "buy" rating and set a $24.00 price objective on shares of Trevi Therapeutics in a research report on Tuesday, May 20th. Seven equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $18.63.

Trevi Therapeutics Stock Performance

The firm's 50-day moving average is $6.23 and its 200 day moving average is $4.93. The stock has a market cap of $686.76 million, a PE ratio of -15.63 and a beta of 0.59.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last released 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. On average, sell-side analysts predict that Trevi Therapeutics, Inc. will post -0.49 EPS for the current fiscal year.

Insider Activity at Trevi Therapeutics

In related news, CEO Jennifer L. Good sold 5,263 shares of the company's stock in a transaction on Friday, March 21st. The shares were sold at an average price of $6.58, for a total value of $34,630.54. Following the completion of the sale, the chief executive officer now owns 213,313 shares in the company, valued at $1,403,599.54. This represents a 2.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Farrell Simon sold 81,313 shares of the company's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $6.75, for a total transaction of $548,862.75. Following the completion of the sale, the insider now owns 76,900 shares of the company's stock, valued at approximately $519,075. This trade represents a 51.39% decrease in their position. The disclosure for this sale can be found here. 18.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Trevi Therapeutics

Several institutional investors have recently bought and sold shares of the company. Rhumbline Advisers increased its stake in Trevi Therapeutics by 13.3% in the 1st quarter. Rhumbline Advisers now owns 90,482 shares of the company's stock valued at $569,000 after buying an additional 10,608 shares during the period. Strs Ohio acquired a new position in Trevi Therapeutics in the 1st quarter valued at $52,000. Acorn Capital Advisors LLC increased its stake in Trevi Therapeutics by 7.2% in the 1st quarter. Acorn Capital Advisors LLC now owns 2,144,844 shares of the company's stock valued at $13,491,000 after buying an additional 143,796 shares during the period. Exome Asset Management LLC acquired a new position in Trevi Therapeutics in the 1st quarter valued at $1,030,000. Finally, Octagon Capital Advisors LP acquired a new position in Trevi Therapeutics in the 1st quarter valued at $20,895,000. 95.76% of the stock is owned by institutional investors and hedge funds.

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.