Trevi Therapeutics (NASDAQ:TRVI) Upgraded to Strong-Buy at Raymond James

Raymond James upgraded shares of Trevi Therapeutics (NASDAQ:TRVI) from an outperform rating to a strong-buy rating in a research note published on Monday morning, Marketbeat reports. Raymond James currently has $29.00 target price on the stock, up from their prior target price of $9.00.

TRVI has been the subject of a number of other reports. HC Wainwright lifted their price target on shares of Trevi Therapeutics from $6.00 to $7.50 and gave the company a “buy” rating in a research report on Thursday, December 12th. Needham & Company LLC lifted their price target on shares of Trevi Therapeutics from $8.00 to $25.00 and gave the company a “buy” rating in a research report on Monday. Finally, D. Boral Capital reiterated a “buy” rating and issued a $21.00 price target on shares of Trevi Therapeutics in a research report on Friday. Seven equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $14.56.

Trevi Therapeutics Stock Up 41.2 %

Shares of TRVI stock opened at $6.07 on Monday. The firm has a 50 day moving average price of $4.18 and a two-hundred day moving average price of $3.54. The company has a market capitalization of $466.58 million, a PE ratio of -13.80 and a beta of 0.90. Trevi Therapeutics has a 12-month low of $2.30 and a 12-month high of $7.39.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Frazier Life Sciences Management L.P. raised its position in Trevi Therapeutics by 44.5% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 10,664,774 shares of the company’s stock valued at $43,939,000 after purchasing an additional 3,283,684 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Trevi Therapeutics during the fourth quarter valued at approximately $17,099,000. Vivo Capital LLC raised its position in Trevi Therapeutics by 116.3% during the fourth quarter. Vivo Capital LLC now owns 3,487,903 shares of the company’s stock valued at $14,370,000 after purchasing an additional 1,875,000 shares in the last quarter. Woodline Partners LP raised its position in Trevi Therapeutics by 429.9% during the fourth quarter. Woodline Partners LP now owns 3,212,597 shares of the company’s stock valued at $13,236,000 after purchasing an additional 2,606,370 shares in the last quarter. Finally, MPM Bioimpact LLC raised its position in Trevi Therapeutics by 101.2% during the fourth quarter. MPM Bioimpact LLC now owns 3,094,896 shares of the company’s stock valued at $12,751,000 after purchasing an additional 1,556,379 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, 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.