Trevi Therapeutics (NASDAQ:TRVI) Hits New 1-Year High – Here’s Why

Shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI) hit a new 52-week high on Saturday . The stock traded as high as $20.22 and last traded at $19.07, with a volume of 8311756 shares changing hands. The stock had previously closed at $17.36.

Analyst Ratings Changes

A number of research analysts have issued reports on TRVI shares. Stifel Nicolaus set a $30.00 price target on Trevi Therapeutics in a report on Friday, May 8th. Wall Street Zen raised shares of Trevi Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Trevi Therapeutics in a research report on Monday, April 20th. Needham & Company LLC restated a “buy” rating and set a $23.00 price target on shares of Trevi Therapeutics in a research report on Wednesday, May 20th. Finally, D. Boral Capital reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Trevi Therapeutics in a report on Friday, April 17th. Two research 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. Based on data from MarketBeat.com, Trevi Therapeutics has an average rating of “Buy” and an average price target of $22.67.

Trevi Therapeutics Stock Up 9.9%

The business has a 50-day simple moving average of $15.85 and a 200-day simple moving average of $13.33. The company has a market cap of $2.71 billion, a PE ratio of -59.59 and a beta of 1.00.

Trevi Therapeutics (NASDAQ:TRVI) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). On average, research analysts forecast that Trevi Therapeutics, Inc. will post -0.47 EPS for the current fiscal year.

Hedge Funds Weigh In On Trevi Therapeutics

Large investors have recently added to or reduced their stakes in the stock. Nan Fung Trinity HK Ltd. boosted its stake in shares of Trevi Therapeutics by 924.2% in the fourth quarter. Nan Fung Trinity HK Ltd. now owns 917,450 shares of the company’s stock worth $11,486,000 after acquiring an additional 827,875 shares during the last quarter. F m Investments LLC acquired a new position in Trevi Therapeutics in the 4th quarter valued at $3,023,000. Pictet Asset Management Holding SA raised its stake in Trevi Therapeutics by 13,507.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,532,013 shares of the company’s stock valued at $19,181,000 after purchasing an additional 1,520,754 shares during the last quarter. Comerica Bank lifted its holdings in Trevi Therapeutics by 19,481.8% in the 4th quarter. Comerica Bank now owns 83,027 shares of the company’s stock valued at $1,039,000 after purchasing an additional 82,603 shares in the last quarter. Finally, Candriam S.C.A. purchased a new position in Trevi Therapeutics in the 1st quarter valued at $9,229,000. 95.76% of the stock is currently owned by institutional investors and hedge funds.

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.