Trevi Therapeutics (NASDAQ:TRVI) Reaches New 52-Week High - Here's Why

Key Points

• Trevi Therapeutics' shares hit a new 52-week high at $10.16, closing at $9.94 with a trading volume of 320,497 shares.
• Wall Street analysts maintain a moderate buy consensus rating on the stock, with price targets ranging from $18.00 to $27.00.
• The company reported a quarterly EPS of ($0.09), surpassing estimates and indicating positive growth in the clinical-stage biopharmaceutical sector.

Shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI - Get Free Report) reached a new 52-week high on Tuesday . The company traded as high as $10.16 and last traded at $9.94, with a volume of 320497 shares traded. The stock had previously closed at $9.71.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Needham & Company LLC reduced their price target on Trevi Therapeutics from $24.00 to $22.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Raymond James Financial reduced their target price on shares of Trevi Therapeutics from $29.00 to $27.00 and set a "strong-buy" rating on the stock in a research report on Friday, August 8th. Cantor Fitzgerald started coverage on shares of Trevi Therapeutics in a research report on Tuesday, July 1st. They set an "overweight" rating and a $25.00 price target for the company. Weiss Ratings restated a "sell (d-)" rating on shares of Trevi Therapeutics in a report on Wednesday, October 8th. Finally, Morgan Stanley initiated coverage on shares of Trevi Therapeutics in a report on Thursday, August 21st. They set an "overweight" rating and a $18.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $21.75.

Trevi Therapeutics Trading Up 5.0%

The company has a market capitalization of $1.24 billion, a P/E ratio of -24.28 and a beta of 0.74. The firm has a fifty day moving average of $8.20 and a 200 day moving average of $7.01.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.09) EPS for the quarter, beating analysts' consensus estimates of ($0.10) by $0.01. Sell-side analysts anticipate that Trevi Therapeutics, Inc. will post -0.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Trevi Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TRVI. Alliancebernstein L.P. lifted its holdings in shares of 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 acquiring an additional 4,259,015 shares during the last quarter. Rubric Capital Management LP grew its stake in shares of Trevi Therapeutics by 88.0% during the second 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 purchased a new stake in shares of Trevi Therapeutics in the first quarter worth approximately $20,895,000. Armistice Capital LLC purchased a new position in Trevi Therapeutics during the 1st quarter valued at $18,795,000. Finally, Orbimed Advisors LLC grew its position in Trevi Therapeutics by 195.4% in the 2nd quarter. Orbimed Advisors LLC now owns 3,308,400 shares of the company's stock valued at $18,097,000 after acquiring an additional 2,188,400 shares during the last quarter. 95.76% of the stock is 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.

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