Trevi Therapeutics (NASDAQ:TRVI) Sees Strong Trading Volume - Should You Buy?

Key Points

• Trevi Therapeutics shares surged on heavy volume, with about 2.36 million shares traded, roughly 41% above the prior session, and the stock jumping from $17.36 to about $20.12.
• Wall Street sentiment remains mostly positive: several firms reiterated buy ratings, and the consensus analyst target is $22.67, though some targets have been trimmed recently.
• The company remains a clinical-stage biopharmaceutical play with no current profits, recently reporting a Q1 loss of $0.09 per share versus estimates of $0.07, while institutional ownership is very high at 95.76%.

Trevi Therapeutics, Inc. (NASDAQ:TRVI - Get Free Report) saw unusually-strong trading volume on Friday . Approximately 2,360,226 shares changed hands during mid-day trading, an increase of 41% from the previous session's volume of 1,678,129 shares.The stock last traded at $20.1170 and had previously closed at $17.36.

Analysts Set New Price Targets

Several research firms recently weighed in on TRVI. D. Boral Capital restated a "buy" rating and set a $19.00 price target on shares of Trevi Therapeutics in a report on Friday, April 17th. HC Wainwright reiterated a "buy" rating and issued a $21.00 price objective on shares of Trevi Therapeutics in a research note on Wednesday, May 6th. JonesTrading dropped their target price on shares of Trevi Therapeutics from $25.00 to $24.00 and set a "buy" rating on the stock in a research report on Thursday, March 19th. Stifel Nicolaus set a $30.00 target price on Trevi Therapeutics in a research note on Friday, May 8th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $23.00 target price on shares of Trevi Therapeutics in a report on Wednesday, May 20th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $22.67.

Trevi Therapeutics Stock Performance

The stock has a 50 day moving average price of $15.76 and a 200 day moving average price of $13.29. The company has a market capitalization of $2.71 billion, a P/E ratio of -59.56 and a beta of 1.00.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.02). As a group, sell-side analysts expect that Trevi Therapeutics, Inc. will post -0.47 earnings per share for the current year.

Institutional Investors Weigh In On Trevi Therapeutics

A number of hedge funds have recently modified their holdings of the stock. Alliancebernstein L.P. grew its holdings in Trevi Therapeutics by 19,064.5% during 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. Rubric Capital Management LP raised its stake in shares of Trevi Therapeutics by 88.0% in 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 period. Viking Global Investors LP lifted its position in shares of Trevi Therapeutics by 232.4% during the 3rd quarter. Viking Global Investors LP now owns 5,128,875 shares of the company's stock valued at $46,929,000 after buying an additional 3,585,875 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Trevi Therapeutics by 1,792.0% during the 3rd quarter. Wellington Management Group LLP now owns 3,253,888 shares of the company's stock valued at $29,773,000 after buying an additional 3,081,906 shares during the last quarter. Finally, Marshall Wace LLP grew its stake in shares of Trevi Therapeutics by 95.4% during the 3rd quarter. Marshall Wace LLP now owns 4,841,751 shares of the company's stock worth $44,302,000 after acquiring an additional 2,363,835 shares during the period. Institutional investors own 95.76% of the company's stock.

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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