Trevi Therapeutics (NASDAQ:TRVI) Releases Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Key Points

• EPS miss: Trevi reported (-$0.09) EPS for the quarter, missing the consensus estimate of (-$0.07) by $0.02.
• Stock reaction and metrics: Despite the miss, the stock rose $0.28 to $14.66 on ~1.02M shares traded; market capitalization is about $1.89B and the 1‑year high is $16.12.
• Ownership and analyst view: Institutional investors own roughly 95.76% of shares and several funds increased holdings, while analysts carry a consensus "Buy" with an average target price of $21.60.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) released its quarterly earnings results on Tuesday. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.02), FiscalAI reports.

Trevi Therapeutics Price Performance

Trevi Therapeutics stock traded up $0.28 during trading hours on Tuesday, hitting $14.66. The stock had a trading volume of 1,018,650 shares, compared to its average volume of 1,491,424. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of -45.81 and a beta of 1.07. Trevi Therapeutics has a 1-year low of $5.38 and a 1-year high of $16.12. The stock's fifty day moving average is $12.49 and its two-hundred day moving average is $11.87.

Institutional Trading of Trevi Therapeutics

Several large investors have recently bought and sold shares of the company. Kennedy Capital Management LLC grew its holdings in Trevi Therapeutics by 2.4% in the fourth quarter. Kennedy Capital Management LLC now owns 56,269 shares of the company's stock valued at $704,000 after purchasing an additional 1,336 shares during the last quarter. California State Teachers Retirement System grew its holdings in Trevi Therapeutics by 2.6% in the fourth quarter. California State Teachers Retirement System now owns 83,788 shares of the company's stock valued at $1,049,000 after purchasing an additional 2,091 shares during the last quarter. Rafferty Asset Management LLC grew its holdings in Trevi Therapeutics by 21.6% in the fourth quarter. Rafferty Asset Management LLC now owns 16,499 shares of the company's stock valued at $207,000 after purchasing an additional 2,933 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in Trevi Therapeutics by 5.3% in the fourth quarter. Russell Investments Group Ltd. now owns 59,444 shares of the company's stock valued at $744,000 after purchasing an additional 2,984 shares during the last quarter. Finally, Creative Planning grew its holdings in Trevi Therapeutics by 17.5% in the second quarter. Creative Planning now owns 20,247 shares of the company's stock valued at $111,000 after purchasing an additional 3,016 shares during the last quarter. Institutional investors and hedge funds own 95.76% of the company's stock.

Analyst Upgrades and Downgrades

TRVI has been the topic of a number of recent analyst reports. Morgan Stanley dropped their price objective on Trevi Therapeutics from $19.00 to $18.00 and set an "overweight" rating on the stock in a report on Wednesday, March 18th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Trevi Therapeutics in a report on Monday, April 20th. Oppenheimer reaffirmed an "outperform" rating on shares of Trevi Therapeutics in a report on Monday, March 9th. D. Boral Capital reaffirmed a "buy" rating and set a $19.00 price objective on shares of Trevi Therapeutics in a report on Friday, April 17th. Finally, JonesTrading dropped their price objective on Trevi Therapeutics from $25.00 to $24.00 and set a "buy" rating on the stock in a report on Thursday, March 19th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Trevi Therapeutics presently has a consensus rating of "Buy" and an average target price of $21.60.

About Trevi Therapeutics

Trevi Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the development of novel non-opioid therapies for the management of chronic and acute pain. The company leverages proprietary drug delivery platforms and targeted molecular approaches to address high unmet needs in cancer-related pain, chemotherapy-induced neuropathy and other severe pain conditions.

Its lead product candidate is a proprietary formulation of tetrodotoxin (TTX), a sodium-channel blocking agent being evaluated in early-stage clinical trials for moderate-to-severe pain associated with advanced cancer and peripheral neuropathy.

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