Trevi Therapeutics (NASDAQ:TRVI) Trading Up 7.2% – Here’s What Happened

Trevi Therapeutics, Inc. (NASDAQ:TRVI)’s share price traded up 7.2% on Monday . The stock traded as high as $12.72 and last traded at $12.7950. 547,879 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 1,377,992 shares. The stock had previously closed at $11.94.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. JonesTrading decreased their target price on Trevi Therapeutics from $25.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, March 19th. HC Wainwright reissued a “buy” rating and set a $21.00 price objective on shares of Trevi Therapeutics in a report on Monday, March 9th. Oppenheimer restated an “outperform” rating on shares of Trevi Therapeutics in a research report on Monday, March 9th. D. Boral Capital reiterated a “buy” rating and set a $19.00 target price on shares of Trevi Therapeutics in a research report on Wednesday, March 18th. Finally, Needham & Company LLC boosted their price target on shares of Trevi Therapeutics from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, March 18th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Trevi Therapeutics presently has an average rating of “Buy” and a consensus price target of $21.60.

Trevi Therapeutics Stock Performance

The stock has a market capitalization of $1.64 billion, a P/E ratio of -40.07 and a beta of 0.99. The firm has a 50-day moving average price of $11.27 and a 200 day moving average price of $11.23.

Trevi Therapeutics (NASDAQ:TRVI) last released its earnings results on Tuesday, March 17th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04. On average, equities analysts anticipate that Trevi Therapeutics, Inc. will post -0.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Trevi Therapeutics

A number of institutional investors have recently made changes to their positions in the business. Russell Investments Group Ltd. raised its position in Trevi Therapeutics by 194.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 4,536 shares of the company’s stock worth $25,000 after purchasing an additional 2,996 shares during the period. Hilton Head Capital Partners LLC bought a new position in shares of Trevi Therapeutics during the fourth quarter valued at about $40,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Trevi Therapeutics in the fourth quarter worth about $50,000. Strs Ohio bought a new stake in shares of Trevi Therapeutics in the 1st quarter valued at about $52,000. Finally, Rafferty Asset Management LLC purchased a new stake in Trevi Therapeutics during the 2nd quarter valued at about $60,000. Hedge funds and other institutional investors own 95.76% of the company’s stock.

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.