Trevi Therapeutics (NASDAQ:TRVI) Hits New 1-Year High - Still a Buy?

Trevi Therapeutics, Inc. (NASDAQ:TRVI - Get Free Report) shares 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 changing hands. The stock had previously closed at $6.51.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on TRVI shares. HC Wainwright started coverage on shares of Trevi Therapeutics in a report on Wednesday, May 28th. They issued a "buy" rating and a $21.00 price objective for the company. B. Riley reissued a "buy" rating and issued a $20.00 price objective (up previously from $11.00) on shares of Trevi Therapeutics in a report on Wednesday, March 19th. Raymond James raised shares of Trevi Therapeutics from an "outperform" rating to a "strong-buy" rating and upped their price objective for the company from $9.00 to $29.00 in a report on Monday, March 10th. D. Boral Capital reissued a "buy" rating and issued a $21.00 price objective on shares of Trevi Therapeutics in a report on Monday. Finally, Oppenheimer upped their price objective on shares of Trevi Therapeutics from $12.00 to $20.00 and gave the company an "outperform" rating in a report on Tuesday, March 11th. Seven investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $18.63.

Trevi Therapeutics Price Performance

The company has a market cap of $594.36 million, a PE ratio of -13.52 and a beta of 0.62. The company's 50 day simple moving average is $6.24 and its two-hundred day simple moving average is $4.91.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.04. Sell-side analysts expect that Trevi Therapeutics, Inc. will post -0.49 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Trading of Trevi Therapeutics

Several hedge funds have recently made changes to their positions in TRVI. Summit Investment Advisors Inc. lifted its position in shares of Trevi Therapeutics by 84.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,332 shares of the company's stock worth $26,000 after purchasing an additional 2,894 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Trevi Therapeutics during the fourth quarter worth about $49,000. Strs Ohio acquired a new stake in Trevi Therapeutics in the first quarter valued at approximately $52,000. Squarepoint Ops LLC acquired a new stake in Trevi Therapeutics in the fourth quarter valued at approximately $58,000. Finally, Two Sigma Advisers LP acquired a new stake in Trevi Therapeutics in the fourth quarter valued at approximately $66,000. Institutional investors and hedge funds 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.