HC Wainwright Initiates Coverage on Trevi Therapeutics (NASDAQ:TRVI)

Research analysts at HC Wainwright assumed coverage on shares of Trevi Therapeutics (NASDAQ:TRVI) in a research report issued on Wednesday, MarketBeat.com reports. The firm set a “buy” rating and a $21.00 price target on the stock. HC Wainwright’s target price would suggest a potential upside of 230.19% from the stock’s previous close.

A number of other research analysts have also recently issued reports on TRVI. D. Boral Capital reissued a “buy” rating and set a $21.00 price objective on shares of Trevi Therapeutics in a report on Wednesday, March 19th. Raymond James upgraded shares of Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from $9.00 to $29.00 in a research report on Monday, March 10th. B. Riley restated a “buy” rating and issued a $20.00 price target (up from $11.00) on shares of Trevi Therapeutics in a research report on Wednesday, March 19th. Needham & Company LLC reaffirmed a “buy” rating and set a $24.00 price objective on shares of Trevi Therapeutics in a research note on Tuesday, May 20th. Finally, Oppenheimer lifted their target price on shares of Trevi Therapeutics from $12.00 to $20.00 and gave the company an “outperform” rating in a research note on Tuesday, March 11th. Seven equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $18.63.

Trevi Therapeutics Stock Up 1.6%

NASDAQ:TRVI opened at $6.36 on Wednesday. The firm has a market capitalization of $635.32 million, a PE ratio of -14.45 and a beta of 0.62. Trevi Therapeutics has a 12-month low of $2.30 and a 12-month high of $7.39. The firm has a 50-day moving average price of $6.24 and a 200 day moving average price of $4.83.

Trevi Therapeutics (NASDAQ:TRVI) last issued 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. On average, research analysts expect that Trevi Therapeutics will post -0.49 EPS for the current year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Trevi Therapeutics

Several large investors have recently made changes to their positions in TRVI. Frazier Life Sciences Management L.P. raised its holdings in Trevi Therapeutics by 44.5% during the 4th quarter. Frazier Life Sciences Management L.P. now owns 10,664,774 shares of the company’s stock worth $43,939,000 after purchasing an additional 3,283,684 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Trevi Therapeutics in the 4th quarter valued at about $17,099,000. Vanguard Group Inc. grew its position in shares of Trevi Therapeutics by 9.4% during the 1st quarter. Vanguard Group Inc. now owns 3,838,032 shares of the company’s stock worth $24,141,000 after buying an additional 328,819 shares during the period. Vivo Capital LLC raised its stake in shares of Trevi Therapeutics by 116.3% during the fourth quarter. Vivo Capital LLC now owns 3,487,903 shares of the company’s stock worth $14,370,000 after buying an additional 1,875,000 shares during the last quarter. Finally, MPM Bioimpact LLC raised its stake in shares of Trevi Therapeutics by 10.8% during the first quarter. MPM Bioimpact LLC now owns 3,428,366 shares of the company’s stock worth $21,564,000 after buying an additional 333,470 shares during the last quarter. Institutional investors and hedge funds own 95.76% of the company’s stock.

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.