Trevi Therapeutics (NASDAQ:TRVI) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Trevi Therapeutics (NASDAQ:TRVI) posted its quarterly earnings results on Thursday. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.02, Zacks reports.

Trevi Therapeutics Stock Down 3.3%

TRVI stock traded down $0.39 during mid-day trading on Thursday, hitting $11.46. 1,393,571 shares of the company were exchanged, compared to its average volume of 1,922,993. Trevi Therapeutics has a 12-month low of $2.36 and a 12-month high of $12.30. The firm has a market capitalization of $1.40 billion, a P/E ratio of -27.29 and a beta of 0.67. The business has a fifty day simple moving average of $9.73 and a 200-day simple moving average of $7.77.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Leerink Partners assumed coverage on shares of Trevi Therapeutics in a report on Thursday. They issued an “outperform” rating and a $13.00 price objective for the company. Raymond James Financial cut their price target on shares of Trevi Therapeutics from $29.00 to $27.00 and set a “strong-buy” rating for the company in a report on Friday, August 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Trevi Therapeutics in a research report on Wednesday, October 8th. Morgan Stanley began coverage on Trevi Therapeutics in a research report on Thursday, August 21st. They set an “overweight” rating and a $18.00 price target for the company. Finally, Needham & Company LLC lowered their target price on shares of Trevi Therapeutics from $24.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.78.

Institutional Investors Weigh In On Trevi Therapeutics

A number of institutional investors have recently modified their holdings of TRVI. Ameriprise Financial Inc. lifted its holdings in Trevi Therapeutics by 31.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 154,854 shares of the company’s stock worth $847,000 after buying an additional 36,892 shares in the last quarter. Sei Investments Co. acquired a new stake in Trevi Therapeutics in the third quarter valued at approximately $785,000. Legal & General Group Plc increased its position in shares of Trevi Therapeutics by 870.5% in the 3rd quarter. Legal & General Group Plc now owns 81,972 shares of the company’s stock valued at $750,000 after purchasing an additional 73,526 shares during the last quarter. Rhumbline Advisers increased its position in shares of Trevi Therapeutics by 17.6% in the 2nd quarter. Rhumbline Advisers now owns 106,402 shares of the company’s stock valued at $582,000 after purchasing an additional 15,920 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of Trevi Therapeutics by 1,144.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 56,460 shares of the company’s stock valued at $517,000 after purchasing an additional 51,924 shares in the last quarter. 95.76% of the stock is owned by institutional investors and hedge funds.

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.