HC Wainwright Reiterates “Buy” Rating for Trevi Therapeutics (NASDAQ:TRVI)

Trevi Therapeutics (NASDAQ:TRVI)‘s stock had its “buy” rating restated by HC Wainwright in a research note issued on Wednesday,Benzinga reports. They currently have a $12.50 price objective on the stock. HC Wainwright’s price target would suggest a potential upside of 89.11% from the company’s previous close.

Several other equities analysts have also commented on TRVI. Raymond James upgraded shares of Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and increased their price objective for the company from $9.00 to $29.00 in a research report on Monday, March 10th. D. Boral Capital reiterated a “buy” rating and set a $21.00 price objective on shares of Trevi Therapeutics in a research report on Wednesday. Needham & Company LLC reduced their target price on shares of Trevi Therapeutics from $25.00 to $24.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Oppenheimer increased their target price on shares of Trevi Therapeutics from $12.00 to $20.00 and gave the company an “outperform” rating in a research note on Tuesday, March 11th. Seven analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $17.56.

Trevi Therapeutics Stock Down 2.9 %

TRVI stock opened at $6.61 on Wednesday. Trevi Therapeutics has a 52 week low of $2.30 and a 52 week high of $7.39. The company has a fifty day simple moving average of $4.55 and a two-hundred day simple moving average of $3.73. The firm has a market capitalization of $508.08 million, a P/E ratio of -15.02 and a beta of 0.90.

Trevi Therapeutics (NASDAQ:TRVI) last released its quarterly earnings data on Tuesday, March 18th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.01. As a group, analysts anticipate that Trevi Therapeutics will post -0.49 EPS for the current year.

Insider Buying and Selling

In related news, insider Farrell Simon sold 81,313 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $6.75, for a total value of $548,862.75. Following the transaction, the insider now owns 76,900 shares of the company’s stock, valued at $519,075. This trade represents a 51.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 24.37% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. bought a new position in Trevi Therapeutics during the 4th quarter worth about $17,099,000. Frazier Life Sciences Management L.P. boosted its holdings in shares of Trevi Therapeutics by 44.5% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 10,664,774 shares of the company’s stock valued at $43,939,000 after buying an additional 3,283,684 shares in the last quarter. Woodline Partners LP boosted its holdings in shares of Trevi Therapeutics by 429.9% in the 4th quarter. Woodline Partners LP now owns 3,212,597 shares of the company’s stock valued at $13,236,000 after buying an additional 2,606,370 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in shares of Trevi Therapeutics in the 4th quarter valued at about $10,300,000. Finally, Acorn Capital Advisors LLC bought a new stake in shares of Trevi Therapeutics in the 4th quarter valued at about $8,244,000. Hedge funds and other institutional investors own 95.76% of the company’s stock.

Trevi Therapeutics Company Profile

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.