Trevi Therapeutics (NASDAQ:TRVI) Releases Earnings Results, Beats Estimates By $0.04 EPS

Trevi Therapeutics (NASDAQ:TRVI) issued its earnings results on Tuesday. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04, FiscalAI reports.

Trevi Therapeutics Trading Up 0.3%

Shares of NASDAQ:TRVI opened at $11.19 on Wednesday. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of -30.24 and a beta of 0.94. Trevi Therapeutics has a 1 year low of $4.85 and a 1 year high of $14.39. The business has a fifty day simple moving average of $11.17 and a 200 day simple moving average of $10.93.

Institutional Investors Weigh In On Trevi Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. grew its stake in shares of Trevi Therapeutics by 194.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 4,536 shares of the company’s stock valued at $25,000 after buying an additional 2,996 shares in the last quarter. Strs Ohio bought a new stake in Trevi Therapeutics in the first quarter worth approximately $52,000. Abel Hall LLC acquired a new position in shares of Trevi Therapeutics during the 4th quarter worth $128,000. Rafferty Asset Management LLC acquired a new position in shares of Trevi Therapeutics during the 2nd quarter worth $60,000. Finally, Creative Planning raised its holdings in shares of Trevi Therapeutics by 17.5% during the 2nd quarter. Creative Planning now owns 20,247 shares of the company’s stock valued at $111,000 after purchasing an additional 3,016 shares in the last quarter. 95.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Oppenheimer reiterated an “outperform” rating on shares of Trevi Therapeutics in a research report on Monday, March 9th. Stifel Nicolaus lifted their target price on Trevi Therapeutics from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, December 19th. HC Wainwright reaffirmed a “buy” rating and set a $21.00 price objective on shares of Trevi Therapeutics in a research note on Monday, March 9th. Leerink Partners raised their target price on shares of Trevi Therapeutics from $13.00 to $16.00 and gave the stock an “outperform” rating in a report on Wednesday, November 19th. Finally, D. Boral Capital reiterated a “buy” rating and issued a $19.00 target price on shares of Trevi Therapeutics in a report on Monday, March 9th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $21.10.

About Trevi Therapeutics

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.