Trevi Therapeutics (NASDAQ:TRVI) Given Buy Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Trevi Therapeutics (NASDAQ:TRVI) in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a $8.00 target price on the stock.

Separately, Oppenheimer reaffirmed an outperform rating and issued a $9.00 price objective on shares of Trevi Therapeutics in a research note on Thursday, March 21st.

Trevi Therapeutics Stock Performance

TRVI stock opened at $2.64 on Wednesday. The company has a market capitalization of $185.94 million, a P/E ratio of -9.10 and a beta of 0.91. The company has a fifty day moving average price of $3.03 and a 200-day moving average price of $2.06. Trevi Therapeutics has a 52-week low of $0.97 and a 52-week high of $4.00.

Trevi Therapeutics (NASDAQ:TRVI) last announced its earnings results on Wednesday, March 20th. 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, sell-side analysts forecast that Trevi Therapeutics will post -0.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Trevi Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Frazier Life Sciences Management L.P. raised its position in shares of Trevi Therapeutics by 7.3% in 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 acquiring an additional 500,000 shares in the last quarter. Opaleye Management Inc. increased its holdings in Trevi Therapeutics by 48.6% in the fourth 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 in the last quarter. Silverarc Capital Management LLC increased its holdings in Trevi Therapeutics by 4.7% in the third quarter. Silverarc Capital Management LLC now owns 927,415 shares of the company’s stock worth $2,022,000 after purchasing an additional 41,491 shares in the last quarter. SG Americas Securities LLC lifted its stake in Trevi Therapeutics by 401.4% in the fourth quarter. SG Americas Securities LLC now owns 98,253 shares of the company’s stock valued at $132,000 after buying an additional 78,656 shares during the period. Finally, Oppenheimer & Co. Inc. bought a new position in shares of Trevi Therapeutics during the 1st quarter worth approximately $208,000. Institutional investors and hedge funds own 95.76% of the company’s stock.

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.