Trevi Therapeutics (NASDAQ:TRVI) Upgraded to Strong-Buy at Raymond James

Trevi Therapeutics (NASDAQ:TRVI) was upgraded by investment analysts at Raymond James from an “outperform” rating to a “strong-buy” rating in a report released on Monday,Briefing.com Automated Import reports. The brokerage presently has a $29.00 price objective on the stock, up from their previous price objective of $9.00.

Several other equities research analysts also recently weighed in on the company. HC Wainwright increased their price target on Trevi Therapeutics from $6.00 to $7.50 and gave the stock a “buy” rating in a report on Thursday, December 12th. D. Boral Capital reiterated a “buy” rating and issued a $21.00 target price on shares of Trevi Therapeutics in a research note on Friday. Finally, Needham & Company LLC boosted their target price on shares of Trevi Therapeutics from $8.00 to $25.00 and gave the company a “buy” rating in a research note on Monday. Seven equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $13.94.

Trevi Therapeutics Price Performance

Trevi Therapeutics stock opened at $4.30 on Monday. The firm has a market capitalization of $330.52 million, a P/E ratio of -9.77 and a beta of 0.90. Trevi Therapeutics has a 1-year low of $2.30 and a 1-year high of $5.05. The company’s 50-day moving average is $4.14 and its 200 day moving average is $3.51.

Institutional Trading of Trevi Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Summit Investment Advisors Inc. grew its holdings in Trevi Therapeutics by 84.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,332 shares of the company’s stock worth $26,000 after acquiring an additional 2,894 shares in the last quarter. Bank of New York Mellon Corp boosted its stake 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 valued at $578,000 after purchasing an additional 2,935 shares in the last quarter. SG Americas Securities LLC boosted its stake 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 valued at $110,000 after purchasing an additional 3,387 shares in the last quarter. Invesco Ltd. increased its holdings in Trevi Therapeutics by 21.2% during the fourth quarter. Invesco Ltd. now owns 23,621 shares of the company’s stock valued at $97,000 after buying an additional 4,133 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in 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 worth $104,000 after buying an additional 6,119 shares in the last quarter. 95.76% of the stock is currently 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.