Trevi Therapeutics (NASDAQ:TRVI) Earns Buy Rating from HC Wainwright

Trevi Therapeutics (NASDAQ:TRVI)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a research note issued on Friday,Benzinga reports. They currently have a $21.00 target price on the stock. HC Wainwright’s price objective suggests a potential upside of 87.33% from the company’s current price.

Several other analysts have also recently commented on TRVI. Weiss Ratings restated a “sell (d-)” rating on shares of Trevi Therapeutics in a research note on Wednesday, October 8th. B. Riley raised Trevi Therapeutics to a “strong-buy” rating in a report on Monday, November 17th. D. Boral Capital restated a “buy” rating and issued a $19.00 target price on shares of Trevi Therapeutics in a research note on Thursday. Leerink Partners raised their target price on Trevi Therapeutics from $13.00 to $16.00 and gave the stock an “outperform” rating in a report on Wednesday, November 19th. Finally, Oppenheimer lifted their price target on Trevi Therapeutics from $23.00 to $24.00 and gave the company an “outperform” rating in a research report on Friday, November 14th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $21.10.

Trevi Therapeutics Stock Performance

Trevi Therapeutics stock opened at $11.21 on Friday. The business’s 50-day simple moving average is $12.20 and its two-hundred day simple moving average is $9.46. The company has a market cap of $1.44 billion, a PE ratio of -30.30 and a beta of 0.91. Trevi Therapeutics has a fifty-two week low of $3.47 and a fifty-two week high of $14.39.

Trevi Therapeutics (NASDAQ:TRVI) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.02. As a group, analysts predict that Trevi Therapeutics will post -0.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Trevi Therapeutics

A number of hedge funds have recently made changes to their positions in TRVI. Vivo Capital LLC boosted its stake in shares of Trevi Therapeutics by 13.5% in the third quarter. Vivo Capital LLC now owns 5,094,668 shares of the company’s stock worth $46,616,000 after acquiring an additional 606,765 shares during the last quarter. Velan Capital Investment Management LP acquired a new position in Trevi Therapeutics in the 3rd quarter valued at $1,876,000. Qube Research & Technologies Ltd boosted its stake in Trevi Therapeutics by 45.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 651,679 shares of the company’s stock worth $5,963,000 after purchasing an additional 203,827 shares during the last quarter. Millennium Management LLC boosted its stake in Trevi Therapeutics by 362.7% during the 3rd quarter. Millennium Management LLC now owns 727,596 shares of the company’s stock worth $6,658,000 after purchasing an additional 570,352 shares during the last quarter. Finally, Fred Alger Management LLC grew its holdings in shares of Trevi Therapeutics by 221.5% during the third quarter. Fred Alger Management LLC now owns 191,045 shares of the company’s stock worth $1,748,000 after buying an additional 131,620 shares in the last quarter. 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.