Analysts Set Trevi Therapeutics, Inc. (NASDAQ:TRVI) Target Price at $21.60

Trevi Therapeutics, Inc. (NASDAQ:TRVI) has earned an average recommendation of “Buy” from the twelve research firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $21.60.

Several brokerages have recently issued reports on TRVI. D. Boral Capital reiterated a “buy” rating and set a $19.00 price objective on shares of Trevi Therapeutics in a research report on Wednesday, March 18th. Morgan Stanley cut their target price on Trevi Therapeutics from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 18th. HC Wainwright reiterated a “buy” rating and set a $21.00 price target on shares of Trevi Therapeutics in a research report on Monday, March 9th. Stifel Nicolaus increased their price target on Trevi Therapeutics from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, December 19th. Finally, Needham & Company LLC raised their price target on Trevi Therapeutics from $22.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, March 18th.

Trevi Therapeutics Stock Down 2.9%

Shares of NASDAQ:TRVI opened at $11.58 on Friday. The company has a market cap of $1.49 billion, a PE ratio of -36.19 and a beta of 0.99. The company’s 50-day moving average price is $11.21 and its 200 day moving average price is $11.16. Trevi Therapeutics has a fifty-two week low of $4.85 and a fifty-two week high of $14.39.

Trevi Therapeutics (NASDAQ:TRVI) last posted its earnings results on Tuesday, March 17th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.04. As a group, equities analysts anticipate that Trevi Therapeutics will post -0.49 EPS for the current year.

Hedge Funds Weigh In On Trevi Therapeutics

Several large investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd bought a new stake in shares of Trevi Therapeutics during the 4th quarter worth about $50,000. Seven Fleet Capital Management LP bought a new position in shares of Trevi Therapeutics in the fourth quarter valued at approximately $89,000. Invesco Ltd. boosted its holdings in shares of Trevi Therapeutics by 3.3% in the fourth quarter. Invesco Ltd. now owns 498,926 shares of the company’s stock valued at $6,247,000 after acquiring an additional 15,856 shares in the last quarter. KVP Capital Advisors LP acquired a new position in shares of Trevi Therapeutics during the fourth quarter valued at approximately $5,183,000. Finally, XTX Topco Ltd bought a new stake in Trevi Therapeutics during the fourth quarter worth approximately $1,049,000. Institutional investors and hedge funds own 95.76% of the company’s stock.

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.