Trevi Therapeutics (NASDAQ:TRVI) Stock Rating Lowered by Wall Street Zen

Trevi Therapeutics (NASDAQ:TRVI) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

A number of other equities analysts have also recently issued reports on the stock. BMO Capital Markets assumed coverage on shares of Trevi Therapeutics in a report on Monday. They issued an “outperform” rating and a $36.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Trevi Therapeutics in a report on Friday, July 17th. D. Boral Capital reiterated a “buy” rating and set a $19.00 price target on shares of Trevi Therapeutics in a research report on Friday, April 17th. Morgan Stanley reissued an “overweight” rating and issued a $20.00 price target on shares of Trevi Therapeutics in a report on Wednesday, May 6th. Finally, Needham & Company LLC restated a “buy” rating and set a $23.00 price objective on shares of Trevi Therapeutics in a research note on Wednesday, May 20th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $24.91.

Trevi Therapeutics Stock Performance

Trevi Therapeutics stock opened at $17.53 on Friday. Trevi Therapeutics has a 1 year low of $6.55 and a 1 year high of $20.22. The firm’s 50-day moving average is $16.11 and its 200-day moving average is $13.50. The company has a market cap of $2.49 billion, a P/E ratio of -54.78 and a beta of 1.00.

Trevi Therapeutics (NASDAQ:TRVI) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). As a group, sell-side analysts predict that Trevi Therapeutics will post -0.47 earnings per share for the current year.

Hedge Funds Weigh In On Trevi Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in TRVI. Hilton Head Capital Partners LLC grew its holdings in Trevi Therapeutics by 32.6% in the 1st quarter. Hilton Head Capital Partners LLC now owns 4,250 shares of the company’s stock worth $51,000 after buying an additional 1,044 shares in the last quarter. AlphaCentric Advisors LLC raised its stake in Trevi Therapeutics by 5.7% during the 1st quarter. AlphaCentric Advisors LLC now owns 23,970 shares of the company’s stock valued at $286,000 after acquiring an additional 1,303 shares in the last quarter. Kennedy Capital Management LLC boosted its position in Trevi Therapeutics by 2.4% during the 4th quarter. Kennedy Capital Management LLC now owns 56,269 shares of the company’s stock worth $704,000 after acquiring an additional 1,336 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in Trevi Therapeutics by 32.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,231 shares of the company’s stock worth $78,000 after acquiring an additional 1,523 shares during the period. Finally, Oppenheimer & Co. Inc. grew its stake in shares of Trevi Therapeutics by 2.1% in the fourth quarter. Oppenheimer & Co. Inc. now owns 100,698 shares of the company’s stock worth $1,261,000 after purchasing an additional 2,030 shares in the last quarter. 95.76% of the stock is currently owned by institutional investors and hedge funds.

About Trevi Therapeutics

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.