Trevi Therapeutics (NASDAQ:TRVI) Hits New 1-Year High – What’s Next?

Trevi Therapeutics, Inc. (NASDAQ:TRVI)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $18.11 and last traded at $17.71, with a volume of 2460685 shares traded. The stock had previously closed at $17.21.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Stifel Nicolaus set a $30.00 price target on Trevi Therapeutics in a research report on Friday, May 8th. JonesTrading lowered their price objective on Trevi Therapeutics from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Thursday, March 19th. Morgan Stanley restated an “overweight” rating and set a $20.00 target price on shares of Trevi Therapeutics in a report on Wednesday, May 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $23.00 target price on shares of Trevi Therapeutics in a research report on Wednesday, May 20th. Finally, Oppenheimer reiterated an “outperform” rating on shares of Trevi Therapeutics in a research note on Monday, March 9th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Trevi Therapeutics presently has a consensus rating of “Buy” and an average price target of $22.90.

Trevi Therapeutics Trading Up 0.3%

The company has a market cap of $2.47 billion, a PE ratio of -54.45 and a beta of 1.04. The firm has a 50 day moving average of $14.58 and a two-hundred day moving average of $12.70.

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

Hedge Funds Weigh In On Trevi Therapeutics

Large investors have recently modified their holdings of the stock. Russell Investments Group Ltd. grew its position in Trevi Therapeutics by 194.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 4,536 shares of the company’s stock valued at $25,000 after purchasing an additional 2,996 shares during the last quarter. KBC Group NV purchased a new position in Trevi Therapeutics in the first quarter worth about $29,000. Hilton Head Capital Partners LLC purchased a new position in Trevi Therapeutics in the fourth quarter worth about $40,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Trevi Therapeutics in the fourth quarter worth approximately $50,000. Finally, Strs Ohio bought a new position in shares of Trevi Therapeutics in the first quarter worth approximately $52,000. Hedge funds and other institutional investors own 95.76% of the company’s stock.

Trevi Therapeutics Company Profile

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.