Trevi Therapeutics (NASDAQ:TRVI) Sees Strong Trading Volume - Still a Buy?

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.

Shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI - Get Free Report) saw unusually-strong trading volume on Thursday . Approximately 2,638,017 shares were traded during mid-day 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 analysts recently weighed in on TRVI shares. Wall Street Zen lowered Trevi Therapeutics from a "hold" rating to a "sell" rating in a report on Friday, June 6th. Cantor Fitzgerald started coverage on Trevi Therapeutics in a research report on Tuesday, July 1st. They set an "overweight" rating and a $25.00 price objective for the company. Needham & Company LLC dropped their price target on Trevi Therapeutics from $24.00 to $22.00 and set a "buy" rating on the stock in a report on Friday, August 8th. Raymond James Financial dropped their price target on Trevi Therapeutics from $29.00 to $27.00 and set a "strong-buy" rating on the stock in a report on Friday, August 8th. Finally, Morgan Stanley started coverage on Trevi Therapeutics in a report on Thursday, August 21st. They issued an "overweight" rating and a $18.00 target price for the company. One analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $21.75.

Trevi Therapeutics Stock Down 1.6%

The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of -22.52 and a beta of 0.71. The stock's 50 day moving average price is $7.24 and its two-hundred day moving average price is $6.45.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.09) earnings per share for the quarter, topping analysts' consensus estimates of ($0.10) by $0.01. On average, equities analysts expect that Trevi Therapeutics, Inc. will post -0.49 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of TRVI. Raymond James Financial Inc. bought a new position in shares of Trevi Therapeutics in the fourth quarter valued at approximately $49,000. Dimensional Fund Advisors LP increased its holdings in shares of Trevi Therapeutics by 86.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 134,353 shares of the company's stock valued at $553,000 after purchasing an additional 62,143 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Trevi Therapeutics by 32.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,166 shares of the company's stock valued at $104,000 after purchasing an additional 6,119 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Trevi Therapeutics by 11.3% in the fourth quarter. Northern Trust Corp now owns 482,815 shares of the company's stock valued at $1,989,000 after purchasing an additional 49,173 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of Trevi Therapeutics by 187.0% in the fourth quarter. Ameriprise Financial Inc. now owns 96,784 shares of the company's stock valued at $399,000 after purchasing an additional 63,067 shares in the last quarter. Institutional investors 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.

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