Trevi Therapeutics (NASDAQ:TRVI) Given New $24.00 Price Target at Needham & Company LLC

Trevi Therapeutics (NASDAQ:TRVI) had its price target cut by stock analysts at Needham & Company LLC from $25.00 to $24.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price target would indicate a potential upside of 263.09% from the stock’s current price.

TRVI has been the subject of a number of other research reports. Raymond James upgraded Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from $9.00 to $29.00 in a research note on Monday, March 10th. HC Wainwright raised their price target on Trevi Therapeutics from $7.50 to $12.50 and gave the stock a “buy” rating in a report on Monday, March 10th. Oppenheimer lifted their target price on Trevi Therapeutics from $12.00 to $20.00 and gave the company an “outperform” rating in a research note on Tuesday, March 11th. Finally, D. Boral Capital reiterated a “buy” rating and set a $21.00 price target on shares of Trevi Therapeutics in a research report on Friday, March 7th. Seven research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $17.56.

Trevi Therapeutics Trading Down 2.9 %

NASDAQ TRVI opened at $6.61 on Wednesday. The business’s 50-day moving average price is $4.55 and its 200 day moving average price is $3.73. Trevi Therapeutics has a twelve month low of $2.30 and a twelve month high of $7.39. The company has a market capitalization of $508.08 million, a PE ratio of -15.02 and a beta of 0.90.

Trevi Therapeutics (NASDAQ:TRVI) last released its quarterly earnings data on Tuesday, March 18th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.01. Equities analysts predict that Trevi Therapeutics will post -0.49 EPS for the current year.

Insider Transactions at Trevi Therapeutics

In related news, insider Farrell Simon sold 81,313 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $6.75, for a total transaction of $548,862.75. Following the transaction, the insider now directly owns 76,900 shares in the company, valued at $519,075. The trade was a 51.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 24.37% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Trevi Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in TRVI. Summit Investment Advisors Inc. grew its stake in shares of Trevi Therapeutics by 84.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 6,332 shares of the company’s stock valued at $26,000 after purchasing an additional 2,894 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Trevi Therapeutics by 2.1% in the 4th quarter. Bank of New York Mellon Corp now owns 140,219 shares of the company’s stock worth $578,000 after acquiring an additional 2,935 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Trevi Therapeutics by 14.5% during the 4th quarter. SG Americas Securities LLC now owns 26,792 shares of the company’s stock worth $110,000 after buying an additional 3,387 shares in the last quarter. Invesco Ltd. lifted its holdings in Trevi Therapeutics by 21.2% during the 4th quarter. Invesco Ltd. now owns 23,621 shares of the company’s stock worth $97,000 after buying an additional 4,133 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Trevi Therapeutics by 32.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,166 shares of the company’s stock worth $104,000 after buying an additional 6,119 shares in the last quarter. 95.76% of the stock is currently owned by institutional investors.

Trevi Therapeutics Company Profile

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.