Trevi Therapeutics (NASDAQ:TRVI) Sees Strong Trading Volume - What's Next?

Key Points

• Trevi Therapeutics experienced a significant increase in trading volume with approximately 2.64 million shares traded, reflecting a 36% rise from the prior session.
• Analysts have mixed opinions on the stock, with ratings varying from a "sell" by Wall Street Zen to "overweight" by Cantor Fitzgerald, along with an average price target of $21.75.
• The company reported earnings of ($0.09) per share, surpassing analysts' estimates and indicating a potential for growth in the upcoming fiscal year.

Trevi Therapeutics, Inc. (NASDAQ:TRVI - Get Free Report) saw unusually-strong trading volume on Thursday . Approximately 2,638,017 shares traded hands during trading, an increase of 36% from the previous session's volume of 1,932,767 shares.The stock last traded at $9.61 and had previously closed at $9.62.

Analysts Set New Price Targets

Several research analysts have issued reports on TRVI shares. Needham & Company LLC dropped their target price on Trevi Therapeutics from $24.00 to $22.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Morgan Stanley initiated coverage on shares of Trevi Therapeutics in a research note on Thursday, August 21st. They set an "overweight" rating and a $18.00 price target for the company. D. Boral Capital reissued a "buy" rating and issued a $21.00 price objective on shares of Trevi Therapeutics in a research note on Monday, June 2nd. HC Wainwright began coverage on Trevi Therapeutics in a research report on Wednesday, May 28th. They set a "buy" rating and a $21.00 price target on the stock. Finally, Oppenheimer reaffirmed an "outperform" rating on shares of Trevi Therapeutics in a research report on Monday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. According to data from MarketBeat, Trevi Therapeutics currently has a consensus rating of "Buy" and a consensus price target of $21.75.

Trevi Therapeutics Price Performance

The stock has a market capitalization of $969.34 million, a PE ratio of -18.95 and a beta of 0.71. The business's fifty day moving average price is $7.40 and its two-hundred day moving average price is $6.57.

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

Institutional Investors Weigh In On Trevi Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. Frazier Life Sciences Management L.P. boosted its holdings in Trevi Therapeutics by 44.5% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 10,664,774 shares of the company's stock valued at $43,939,000 after purchasing an additional 3,283,684 shares during the last quarter. Rubric Capital Management LP boosted its holdings in 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 purchasing an additional 3,993,325 shares during the last quarter. Vivo Capital LLC boosted its holdings in Trevi Therapeutics by 28.7% in the second quarter. Vivo Capital LLC now owns 4,487,903 shares of the company's stock valued at $24,549,000 after purchasing an additional 1,000,000 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in Trevi Therapeutics by 19,064.5% in 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 last quarter. Finally, Vanguard Group Inc. boosted its holdings in Trevi Therapeutics by 9.4% in the first quarter. Vanguard Group Inc. now owns 3,838,032 shares of the company's stock valued at $24,141,000 after purchasing an additional 328,819 shares during the last quarter. 95.76% of the stock is owned by hedge funds and other institutional investors.

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.