Trevi Therapeutics (NASDAQ:TRVI) Trading Up 7.4% - What's Next?

Key Points

• Trevi Therapeutics (NASDAQ:TRVI) rose about 7.4% on Tuesday, trading as high as $17.87 after closing at $16.52 the prior session.
• Analyst sentiment remains generally positive: the stock has a consensus Buy rating and an average price target of $22.67, with recent targets ranging from $20 to $30.
• The company remains a clinical-stage biopharmaceutical firm focused on non-opioid pain therapies, but it recently reported a quarterly loss of $0.09 per share, wider than the expected $0.07 loss.

Trevi Therapeutics, Inc. (NASDAQ:TRVI - Get Free Report)'s stock price was up 7.4% on Tuesday . The stock traded as high as $17.87 and last traded at $17.75. Approximately 779,954 shares were traded during trading, a decline of 53% from the average daily volume of 1,657,574 shares. The stock had previously closed at $16.52.

Analysts Set New Price Targets

A number of brokerages recently commented on TRVI. Needham & Company LLC restated a "buy" rating and issued a $23.00 target price on shares of Trevi Therapeutics in a research note on Wednesday, May 20th. Stifel Nicolaus set a $30.00 price target on shares of Trevi Therapeutics in a research note on Friday, May 8th. Morgan Stanley reissued an "overweight" rating and issued a $20.00 price target on shares of Trevi Therapeutics in a report on Wednesday, May 6th. Weiss Ratings reissued a "sell (d-)" rating on shares of Trevi Therapeutics in a report on Monday, April 20th. Finally, Wall Street Zen upgraded shares of Trevi Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, June 20th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $22.67.

Trevi Therapeutics Stock Up 7.6%

The business has a fifty day simple moving average of $15.55 and a two-hundred day simple moving average of $13.18. The company has a market capitalization of $2.52 billion, a price-to-earnings ratio of -55.56 and a beta of 1.00.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last released its quarterly earnings data 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, equities analysts predict that Trevi Therapeutics, Inc. will post -0.47 earnings per share for the current fiscal year.

Institutional Trading of Trevi Therapeutics

A number of large investors have recently bought and sold shares of TRVI. Russell Investments Group Ltd. raised its stake in Trevi Therapeutics by 194.5% during 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. KBC Group NV acquired a new stake in shares of Trevi Therapeutics in the 1st quarter valued at $29,000. Hilton Head Capital Partners LLC bought a new stake in shares of Trevi Therapeutics in the 4th quarter worth about $40,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Trevi Therapeutics in the 4th quarter worth about $50,000. Finally, Strs Ohio acquired a new stake in shares of Trevi Therapeutics during the 1st quarter worth about $52,000. 95.76% of the stock is currently owned by institutional investors.

Trevi Therapeutics Company Profile

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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