Trevi Therapeutics (NASDAQ:TRVI) Stock Price Up 8.9% - Should You Buy?

Key Points

• Trevi Therapeutics' stock increased by 8.9% to $7.64, with a trading volume that was 10% higher than its average.
• Analysts have varying price targets for the stock, with a consensus rating of "Buy" and an average price target of $20.11.
• Significant institutional interest was noted, with AllianceBernstein increasing its position by over 19,000% in the second quarter, highlighting strong investor confidence.

Shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI - Get Free Report) shot up 8.9% on Monday . The company traded as high as $7.63 and last traded at $7.64. 2,048,964 shares were traded during mid-day trading, an increase of 10% from the average session volume of 1,862,117 shares. The stock had previously closed at $7.01.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TRVI. Raymond James Financial cut their price objective on Trevi Therapeutics from $29.00 to $27.00 and set a "strong-buy" rating on the stock in a research report on Friday, August 8th. HC Wainwright began coverage on Trevi Therapeutics in a research report on Wednesday, May 28th. They issued a "buy" rating and a $21.00 price objective on the stock. D. Boral Capital reiterated a "buy" rating and issued a $21.00 price objective on shares of Trevi Therapeutics in a research report on Monday, June 2nd. Oppenheimer reiterated an "outperform" rating on shares of Trevi Therapeutics in a research report on Monday, June 2nd. Finally, Morgan Stanley assumed coverage on Trevi Therapeutics in a research report on Thursday, August 21st. They set an "overweight" rating and a $18.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company. According to data from MarketBeat, Trevi Therapeutics currently has an average rating of "Buy" and a consensus price target of $21.75.

Trevi Therapeutics Stock Down 15.4%

The company has a market capitalization of $1.00 billion, a P/E ratio of -19.64 and a beta of 0.71. The company has a 50-day moving average of $7.36 and a two-hundred day moving average of $6.53.

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

Institutional Investors Weigh In On Trevi Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. boosted its holdings in Trevi Therapeutics by 194.5% in the second quarter. Russell Investments Group Ltd. now owns 4,536 shares of the company's stock worth $25,000 after acquiring an additional 2,996 shares in the last quarter. Strs Ohio bought a new stake in Trevi Therapeutics in the first quarter worth $52,000. Farther Finance Advisors LLC boosted its holdings in Trevi Therapeutics by 15,969.1% in the second quarter. Farther Finance Advisors LLC now owns 8,838 shares of the company's stock worth $48,000 after acquiring an additional 8,783 shares in the last quarter. Catalyst Funds Management Pty Ltd bought a new stake in Trevi Therapeutics in the second quarter worth $56,000. Finally, Rafferty Asset Management LLC bought a new stake in Trevi Therapeutics in the second quarter worth $60,000. 95.76% of the stock is owned by institutional investors.

About Trevi Therapeutics

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.