Needham & Company LLC Reaffirms “Buy” Rating for Trevi Therapeutics (NASDAQ:TRVI)

Trevi Therapeutics (NASDAQ:TRVI)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $23.00 target price on the stock. Needham & Company LLC’s target price suggests a potential upside of 67.14% from the company’s current price.

Other research analysts have also issued research reports about the company. Wall Street Zen lowered Trevi Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Stifel Nicolaus set a $30.00 target price on Trevi Therapeutics in a report on Friday, May 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Trevi Therapeutics in a report on Monday, April 20th. Morgan Stanley reaffirmed an “overweight” rating and set a $20.00 target price on shares of Trevi Therapeutics in a report on Wednesday, May 6th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $21.00 target price on shares of Trevi Therapeutics in a report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Trevi Therapeutics has a consensus rating of “Buy” and a consensus price target of $22.90.

Trevi Therapeutics Stock Up 3.9%

TRVI traded up $0.52 during trading hours on Wednesday, hitting $13.76. The stock had a trading volume of 598,518 shares, compared to its average volume of 1,487,856. The company’s fifty day simple moving average is $13.02 and its 200 day simple moving average is $12.16. Trevi Therapeutics has a 1 year low of $5.38 and a 1 year high of $16.12. The stock has a market cap of $1.95 billion, a PE ratio of -43.08 and a beta of 1.07.

Trevi Therapeutics (NASDAQ:TRVI) last announced 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 expect that Trevi Therapeutics will post -0.45 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Pivotal bioVenture Partners Investment Advisor LLC grew its holdings in shares of Trevi Therapeutics by 9.7% during the third quarter. Pivotal bioVenture Partners Investment Advisor LLC now owns 1,256,782 shares of the company’s stock worth $11,500,000 after purchasing an additional 110,672 shares in the last quarter. Pictet Asset Management Holding SA grew its holdings in shares of Trevi Therapeutics by 13,507.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,532,013 shares of the company’s stock worth $19,181,000 after purchasing an additional 1,520,754 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Trevi Therapeutics by 93.0% during the fourth quarter. SG Americas Securities LLC now owns 124,562 shares of the company’s stock worth $1,560,000 after purchasing an additional 60,017 shares in the last quarter. F m Investments LLC purchased a new position in shares of Trevi Therapeutics during the fourth quarter worth about $3,023,000. Finally, Nan Fung Trinity HK Ltd. grew its holdings in shares of Trevi Therapeutics by 924.2% during the fourth quarter. Nan Fung Trinity HK Ltd. now owns 917,450 shares of the company’s stock worth $11,486,000 after purchasing an additional 827,875 shares in the last quarter. 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.