Trevi Therapeutics (NASDAQ:TRVI) Now Covered by Raymond James

Equities researchers at Raymond James initiated coverage on shares of Trevi Therapeutics (NASDAQ:TRVI) in a research report issued to clients and investors on Friday, Marketbeat reports. The brokerage set an “outperform” rating and a $9.00 price target on the stock. Raymond James’ price target points to a potential upside of 184.81% from the company’s previous close.

Several other research firms have also recently commented on TRVI. Rodman & Renshaw started coverage on shares of Trevi Therapeutics in a research note on Thursday, June 13th. They issued a “buy” rating and a $7.00 target price for the company. EF Hutton Acquisition Co. I upgraded shares of Trevi Therapeutics to a “strong-buy” rating in a research report on Monday, August 19th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $8.00 target price on shares of Trevi Therapeutics in a research report on Wednesday, May 8th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $7.80.

Trevi Therapeutics Stock Up 8.6 %

TRVI opened at $3.16 on Friday. Trevi Therapeutics has a 52 week low of $0.97 and a 52 week high of $4.00. The business has a 50 day moving average price of $2.84 and a two-hundred day moving average price of $2.85. The company has a market cap of $222.57 million, a PE ratio of -9.29 and a beta of 1.00.

Trevi Therapeutics (NASDAQ:TRVI) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.01). During the same period last year, the firm posted ($0.07) earnings per share. As a group, sell-side analysts expect that Trevi Therapeutics will post -0.46 EPS for the current fiscal year.

Insider Buying and Selling

In other Trevi Therapeutics news, insider Thomas Sciascia sold 18,660 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $2.76, for a total value of $51,501.60. Following the completion of the transaction, the insider now directly owns 220,315 shares of the company’s stock, valued at $608,069.40. The sale was disclosed in a filing with the SEC, which is available at this link. Over the last 90 days, insiders have sold 23,315 shares of company stock valued at $65,123. Corporate insiders own 24.37% of the company’s stock.

Institutional Trading of Trevi Therapeutics

Large investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its position in shares of Trevi Therapeutics by 87.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,524 shares of the company’s stock worth $73,000 after buying an additional 11,450 shares in the last quarter. Logos Global Management LP raised its position in Trevi Therapeutics by 27.3% during the second quarter. Logos Global Management LP now owns 2,800,000 shares of the company’s stock worth $8,344,000 after acquiring an additional 600,000 shares during the last quarter. Ally Bridge Group NY LLC purchased a new stake in shares of Trevi Therapeutics in the second quarter valued at about $4,395,000. Hsbc Holdings PLC acquired a new stake in shares of Trevi Therapeutics in the second quarter valued at approximately $61,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of Trevi Therapeutics by 217.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 72,210 shares of the company’s stock worth $215,000 after purchasing an additional 49,475 shares in the last quarter. Institutional investors and hedge funds own 95.76% of the company’s stock.

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.