Trevi Therapeutics (NASDAQ:TRVI) Shares Gap Up - Should You Buy?

Trevi Therapeutics, Inc. (NASDAQ:TRVI - Get Free Report)'s share price gapped up before the market opened on Wednesday . The stock had previously closed at $5.95, but opened at $6.20. Trevi Therapeutics shares last traded at $6.09, with a volume of 2,624,623 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. HC Wainwright assumed coverage on shares of Trevi Therapeutics in a research report on Wednesday, May 28th. They set a "buy" rating and a $21.00 price objective for the company. Oppenheimer upped their price objective on shares of Trevi Therapeutics from $12.00 to $20.00 and gave the company an "outperform" rating in a research report on Tuesday, March 11th. Needham & Company LLC reaffirmed a "buy" rating and set a $24.00 price objective on shares of Trevi Therapeutics in a research report on Tuesday, May 20th. B. Riley reaffirmed a "buy" rating and set a $20.00 price objective (up previously from $11.00) on shares of Trevi Therapeutics in a research report on Wednesday, March 19th. Finally, Raymond James raised shares of Trevi Therapeutics from an "outperform" rating to a "strong-buy" rating and upped their price objective for the company from $9.00 to $29.00 in a research report on Monday, March 10th. Seven research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, Trevi Therapeutics currently has a consensus rating of "Buy" and an average price target of $18.63.

Trevi Therapeutics Price Performance

The firm has a market cap of $673.28 million, a P/E ratio of -15.32 and a beta of 0.59. The stock's 50 day moving average is $6.23 and its two-hundred day moving average is $4.93.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported ($0.09) earnings per share for the quarter, beating analysts' consensus estimates of ($0.13) by $0.04. As a group, research analysts forecast that Trevi Therapeutics, Inc. will post -0.49 EPS for the current fiscal year.

Insiders Place Their Bets

In other Trevi Therapeutics news, CEO Jennifer L. Good sold 5,263 shares of the company's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $6.58, for a total transaction of $34,630.54. Following the sale, the chief executive officer now directly owns 213,313 shares of the company's stock, valued at approximately $1,403,599.54. This represents a 2.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Farrell Simon sold 81,313 shares of the company's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $6.75, for a total transaction of $548,862.75. Following the sale, the insider now directly owns 76,900 shares in the company, valued at $519,075. This represents a 51.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 18.30% of the company's stock.

Institutional Trading of Trevi Therapeutics

Several large investors have recently added to or reduced their stakes in TRVI. SG Americas Securities LLC lifted its position in shares of Trevi Therapeutics by 14.5% during the fourth quarter. SG Americas Securities LLC now owns 26,792 shares of the company's stock worth $110,000 after purchasing an additional 3,387 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Trevi Therapeutics by 2.1% during the fourth quarter. Bank of New York Mellon Corp now owns 140,219 shares of the company's stock worth $578,000 after purchasing an additional 2,935 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Trevi Therapeutics by 14.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 173,063 shares of the company's stock worth $713,000 after purchasing an additional 22,145 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Trevi Therapeutics during the fourth quarter worth approximately $49,000. Finally, Rosalind Advisors Inc. lifted its position in shares of Trevi Therapeutics by 41.7% during the fourth quarter. Rosalind Advisors Inc. now owns 1,062,500 shares of the company's stock worth $4,378,000 after purchasing an additional 312,500 shares in the last quarter. 95.76% of the stock is owned by 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.