Brokerages Set Trevi Therapeutics, Inc. (NASDAQ:TRVI) Target Price at $15.94

Trevi Therapeutics, Inc. (NASDAQ:TRVI) has been assigned an average recommendation of “Buy” from the ten brokerages that are currently covering the stock, Marketbeat reports. Seven research analysts have rated the stock with a buy recommendation and three have assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $17.56.

Several research analysts have recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and set a $12.50 price target on shares of Trevi Therapeutics in a research note on Wednesday. D. Boral Capital restated a “buy” rating and issued a $21.00 target price on shares of Trevi Therapeutics in a report on Wednesday. Needham & Company LLC dropped their price target on shares of Trevi Therapeutics from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Wednesday. Raymond James upgraded shares of Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and lifted their price target for the company from $9.00 to $29.00 in a report on Monday, March 10th. Finally, Oppenheimer boosted their price objective on shares of Trevi Therapeutics from $12.00 to $20.00 and gave the company an “outperform” rating in a research note on Tuesday, March 11th.

Insider Buying and Selling

In other news, insider Farrell Simon sold 81,313 shares of Trevi Therapeutics stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $6.75, for a total transaction of $548,862.75. Following the sale, the insider now owns 76,900 shares of the company’s stock, valued at approximately $519,075. The trade was a 51.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 24.37% of the company’s stock.

Institutional Investors Weigh In On Trevi Therapeutics

A number of hedge funds have recently made changes to their positions in TRVI. Point72 Asset Management L.P. acquired a new position in shares of Trevi Therapeutics during the fourth quarter valued at approximately $17,099,000. Frazier Life Sciences Management L.P. grew its position in Trevi Therapeutics by 44.5% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 10,664,774 shares of the company’s stock worth $43,939,000 after buying an additional 3,283,684 shares during the last quarter. Woodline Partners LP grew its position in Trevi Therapeutics by 429.9% in the fourth quarter. Woodline Partners LP now owns 3,212,597 shares of the company’s stock worth $13,236,000 after buying an additional 2,606,370 shares during the last quarter. Adage Capital Partners GP L.L.C. purchased a new position in Trevi Therapeutics during the 4th quarter worth approximately $10,300,000. Finally, Acorn Capital Advisors LLC purchased a new position in Trevi Therapeutics during the 4th quarter worth approximately $8,244,000. Institutional investors own 95.76% of the company’s stock.

Trevi Therapeutics Price Performance

Shares of NASDAQ TRVI opened at $6.61 on Tuesday. Trevi Therapeutics has a 1-year low of $2.30 and a 1-year high of $7.39. The stock has a fifty day moving average price of $4.55 and a 200 day moving average price of $3.73. The company has a market cap of $508.08 million, a PE ratio of -15.02 and a beta of 0.90.

Trevi Therapeutics (NASDAQ:TRVI) last released its earnings results on Tuesday, March 18th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.01. Analysts anticipate that Trevi Therapeutics will post -0.49 earnings per share for the current fiscal year.

About Trevi Therapeutics

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.