Trevi Therapeutics (NASDAQ:TRVI) Earns “Buy” Rating from Needham & Company LLC

Trevi Therapeutics (NASDAQ:TRVI)‘s stock had its “buy” rating restated by equities researchers at Needham & Company LLC in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $24.00 price target on the stock. Needham & Company LLC’s price objective points to a potential upside of 288.35% from the company’s previous close.

Several other equities research analysts have also recently weighed in on TRVI. B. Riley restated a “buy” rating and set a $20.00 target price (up from $11.00) on shares of Trevi Therapeutics in a research note on Wednesday, March 19th. D. Boral Capital restated a “buy” rating and set a $21.00 price objective on shares of Trevi Therapeutics in a research report on Wednesday, March 19th. Raymond James raised Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from $9.00 to $29.00 in a research note on Monday, March 10th. Oppenheimer lifted their target price on Trevi Therapeutics from $12.00 to $20.00 and gave the company an “outperform” rating in a research report on Tuesday, March 11th. Finally, HC Wainwright reissued a “buy” rating and issued a $12.50 target price on shares of Trevi Therapeutics in a report on Wednesday, March 19th. Seven research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $17.56.

Trevi Therapeutics Stock Performance

Shares of TRVI opened at $6.18 on Tuesday. The firm’s 50-day simple moving average is $6.28 and its 200 day simple moving average is $4.70. The firm has a market cap of $617.34 million, a P/E ratio of -14.05 and a beta of 0.62. Trevi Therapeutics has a 52 week low of $2.30 and a 52 week high of $7.39.

Trevi Therapeutics (NASDAQ:TRVI) last announced its earnings results on Tuesday, May 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.04. As a group, equities analysts forecast that Trevi Therapeutics will post -0.49 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Farrell Simon sold 81,313 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $6.75, for a total value of $548,862.75. Following the sale, the insider now directly owns 76,900 shares in the company, valued at approximately $519,075. The trade was a 51.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jennifer L. Good sold 5,263 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $6.58, for a total transaction of $34,630.54. Following the completion of the sale, the chief executive officer now directly owns 213,313 shares in the company, valued at approximately $1,403,599.54. This trade represents a 2.41% decrease in their position. The disclosure for this sale can be found here. Insiders own 18.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Summit Investment Advisors Inc. raised its holdings in shares of Trevi Therapeutics by 84.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 6,332 shares of the company’s stock valued at $26,000 after acquiring an additional 2,894 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Trevi Therapeutics during the fourth quarter worth about $49,000. Squarepoint Ops LLC bought a new position in shares of Trevi Therapeutics in the fourth quarter worth approximately $58,000. Diversified Trust Co purchased a new stake in Trevi Therapeutics in the first quarter valued at approximately $94,000. Finally, Two Sigma Advisers LP purchased a new stake in Trevi Therapeutics in the fourth quarter valued at approximately $66,000. 95.76% of the stock is currently owned by hedge funds and other institutional investors.

Trevi Therapeutics Company Profile

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.