Trevi Therapeutics’ (TRVI) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Trevi Therapeutics (NASDAQ:TRVI) in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a $8.00 target price on the stock.

A number of other brokerages have also recently commented on TRVI. Leerink Partners began coverage on Trevi Therapeutics in a research note on Monday, September 9th. They issued an “outperform” rating and a $7.00 price target for the company. Leerink Partnrs raised Trevi Therapeutics to a “strong-buy” rating in a research note on Monday, September 9th. Raymond James initiated coverage on Trevi Therapeutics in a research note on Friday, August 30th. They issued an “outperform” rating and a $9.00 price objective for the company. B. Riley reiterated a “buy” rating and issued a $6.00 price objective on shares of Trevi Therapeutics in a report on Monday, October 7th. Finally, EF Hutton Acquisition Co. I raised shares of Trevi Therapeutics to a “strong-buy” rating in a report on Monday, August 19th. Eight research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $9.31.

Trevi Therapeutics Trading Up 15.8 %

Trevi Therapeutics stock opened at $4.17 on Thursday. Trevi Therapeutics has a 12-month low of $1.22 and a 12-month high of $4.60. The business’s 50-day moving average price is $2.99 and its two-hundred day moving average price is $2.93.

Trevi Therapeutics (NASDAQ:TRVI) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.01). During the same quarter in the prior year, the company earned ($0.08) EPS. As a group, equities research analysts forecast that Trevi Therapeutics will post -0.49 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TRVI. BNP Paribas Financial Markets boosted its stake in shares of Trevi Therapeutics by 130.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,930 shares of the company’s stock valued at $40,000 after purchasing an additional 6,764 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new position in Trevi Therapeutics during the first quarter worth $47,000. Hsbc Holdings PLC acquired a new position in Trevi Therapeutics in the second quarter valued at $61,000. Intech Investment Management LLC bought a new stake in Trevi Therapeutics during the third quarter valued at $63,000. Finally, The Manufacturers Life Insurance Company grew its holdings in Trevi Therapeutics by 87.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,524 shares of the company’s stock worth $73,000 after acquiring an additional 11,450 shares during the period. Institutional investors own 95.76% of the company’s stock.

About Trevi Therapeutics

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.