HC Wainwright Increases Trevi Therapeutics (NASDAQ:TRVI) Price Target to $24.00

Trevi Therapeutics (NASDAQ:TRVI) had its price target upped by research analysts at HC Wainwright from $21.00 to $24.00 in a research report issued to clients and investors on Monday, MarketBeat reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s target price indicates a potential upside of 32.01% from the stock’s previous close.

A number of other research firms also recently issued reports on TRVI. Weiss Ratings reissued a “sell (d-)” rating on shares of Trevi Therapeutics in a research report on Friday. D. Boral Capital restated a “buy” rating and issued a $19.00 price objective on shares of Trevi Therapeutics in a report on Friday, April 17th. Stifel Nicolaus set a $30.00 price objective on Trevi Therapeutics in a research note on Friday, May 8th. Morgan Stanley reiterated an “overweight” rating and set a $20.00 target price on shares of Trevi Therapeutics in a report on Wednesday, May 6th. Finally, Needham & Company LLC reissued a “buy” rating and set a $23.00 target price on shares of Trevi Therapeutics in a research report on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Trevi Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $24.91.

Trevi Therapeutics Stock Up 8.4%

Shares of NASDAQ TRVI opened at $18.18 on Monday. Trevi Therapeutics has a 52-week low of $6.55 and a 52-week high of $20.22. The firm has a fifty day moving average of $15.96 and a 200-day moving average of $13.40. The stock has a market capitalization of $2.58 billion, a PE ratio of -56.81 and a beta of 1.00.

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

Institutional Trading of Trevi Therapeutics

A number of institutional investors have recently added to or reduced their stakes in TRVI. Nan Fung Trinity HK Ltd. raised its position in Trevi Therapeutics by 924.2% in the fourth quarter. Nan Fung Trinity HK Ltd. now owns 917,450 shares of the company’s stock valued at $11,486,000 after purchasing an additional 827,875 shares during the period. F m Investments LLC purchased a new stake in shares of Trevi Therapeutics in the fourth quarter worth about $3,023,000. Pictet Asset Management Holding SA boosted its position in shares of Trevi Therapeutics by 13,507.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,532,013 shares of the company’s stock worth $19,181,000 after buying an additional 1,520,754 shares during the period. Candriam S.C.A. acquired a new stake in shares of Trevi Therapeutics in the first quarter valued at about $9,229,000. Finally, Comerica Bank grew its stake in shares of Trevi Therapeutics by 19,481.8% in the fourth quarter. Comerica Bank now owns 83,027 shares of the company’s stock valued at $1,039,000 after buying an additional 82,603 shares in the last quarter. 95.76% of the stock is owned by hedge funds and other institutional investors.

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.