Trevi Therapeutics (NASDAQ:TRVI) Sets New 12-Month High – Here’s Why

Trevi Therapeutics, Inc. (NASDAQ:TRVI) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $16.25 and last traded at $16.0630, with a volume of 306532 shares traded. The stock had previously closed at $15.40.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. HC Wainwright reaffirmed a “buy” rating and set a $21.00 target price on shares of Trevi Therapeutics in a report on Wednesday, May 6th. JonesTrading lowered their target price on shares of Trevi Therapeutics from $25.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, March 19th. Oppenheimer reiterated an “outperform” rating on shares of Trevi Therapeutics in a research report on Monday, March 9th. Stifel Nicolaus set a $30.00 price target on shares of Trevi Therapeutics in a research report on Friday, May 8th. Finally, D. Boral Capital reiterated a “buy” rating and set a $19.00 price target on shares of Trevi Therapeutics in a research report on Friday, April 17th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $22.90.

Trevi Therapeutics Price Performance

The company has a market cap of $2.35 billion, a price-to-earnings ratio of -51.48 and a beta of 1.04. The business’s fifty day moving average price is $14.09 and its 200 day moving average price is $12.54.

Trevi Therapeutics (NASDAQ:TRVI) last announced its earnings results on Tuesday, May 5th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). As a group, equities research analysts anticipate that Trevi Therapeutics, Inc. will post -0.47 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TRVI. AQR Capital Management LLC grew its holdings in shares of Trevi Therapeutics by 20.4% during the first quarter. AQR Capital Management LLC now owns 27,720 shares of the company’s stock valued at $174,000 after buying an additional 4,688 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Trevi Therapeutics by 31.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,143 shares of the company’s stock valued at $278,000 after buying an additional 10,445 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Trevi Therapeutics by 356.3% during the first quarter. Millennium Management LLC now owns 823,249 shares of the company’s stock valued at $5,178,000 after buying an additional 642,830 shares during the last quarter. Strs Ohio acquired a new position in shares of Trevi Therapeutics during the first quarter valued at about $52,000. Finally, Creative Planning grew its holdings in shares of Trevi Therapeutics by 17.5% during the second quarter. Creative Planning now owns 20,247 shares of the company’s stock valued at $111,000 after buying an additional 3,016 shares during the last quarter. 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.