Trevi Therapeutics’ (TRVI) Outperform Rating Reiterated at Oppenheimer

Oppenheimer reaffirmed their outperform rating on shares of Trevi Therapeutics (NASDAQ:TRVIFree Report) in a report published on Thursday, Benzinga reports. Oppenheimer currently has a $9.00 target price on the stock.

Separately, Needham & Company LLC reiterated a buy rating and set a $8.00 price target on shares of Trevi Therapeutics in a research note on Thursday.

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Trevi Therapeutics Price Performance

Shares of NASDAQ:TRVI opened at $3.59 on Thursday. The company’s fifty day moving average price is $2.29 and its 200 day moving average price is $1.85. Trevi Therapeutics has a 12 month low of $0.97 and a 12 month high of $4.00. The firm has a market capitalization of $247.57 million, a P/E ratio of -12.38 and a beta of 0.85.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Trevi Therapeutics by 14.6% during the 4th quarter. Vanguard Group Inc. now owns 2,243,399 shares of the company’s stock worth $3,006,000 after purchasing an additional 285,524 shares during the last quarter. Barclays PLC grew its position in Trevi Therapeutics by 380.2% during the 4th quarter. Barclays PLC now owns 63,797 shares of the company’s stock worth $86,000 after purchasing an additional 50,512 shares during the last quarter. Nuveen Asset Management LLC grew its position in Trevi Therapeutics by 11.8% during the 4th quarter. Nuveen Asset Management LLC now owns 74,849 shares of the company’s stock worth $100,000 after purchasing an additional 7,914 shares during the last quarter. Opaleye Management Inc. grew its position in Trevi Therapeutics by 48.6% during the 4th quarter. Opaleye Management Inc. now owns 2,535,000 shares of the company’s stock worth $3,397,000 after purchasing an additional 829,100 shares during the last quarter. Finally, Frazier Life Sciences Management L.P. grew its position in Trevi Therapeutics by 7.3% during the 4th quarter. Frazier Life Sciences Management L.P. now owns 7,381,090 shares of the company’s stock worth $9,891,000 after purchasing an additional 500,000 shares during the last quarter. 76.31% of the stock is owned by hedge funds and other institutional investors.

About Trevi Therapeutics

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Trevi Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of Haduvio for the treatment of serious cough conditions targeting the central and peripheral nervous systems. The company is developing Haduvio, an oral extended-release formulation of nalbuphine, which is in phase 2b/3 clinical trial for the treatment of chronic pruritus, chronic cough in patients with idiopathic pulmonary fibrosis.

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