Needham & Company LLC Lowers Trevi Therapeutics (NASDAQ:TRVI) Price Target to $24.00

Trevi Therapeutics (NASDAQ:TRVI) had its price target dropped by Needham & Company LLC from $25.00 to $24.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s target price would suggest a potential upside of 263.09% from the stock’s current price.

A number of other analysts also recently issued reports on the company. D. Boral Capital reaffirmed a “buy” rating and issued a $21.00 target price on shares of Trevi Therapeutics in a research note on Friday, March 7th. Raymond James raised Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and raised their target price for the stock from $9.00 to $29.00 in a research note on Monday, March 10th. Oppenheimer raised their target price on Trevi Therapeutics from $12.00 to $20.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 11th. Finally, HC Wainwright raised their target price on Trevi Therapeutics from $7.50 to $12.50 and gave the stock a “buy” rating in a research note on Monday, March 10th. Seven investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $17.56.

Trevi Therapeutics Stock Performance

NASDAQ TRVI opened at $6.61 on Wednesday. The business has a fifty day moving average price of $4.55 and a 200 day moving average price of $3.73. Trevi Therapeutics has a one year low of $2.30 and a one year high of $7.39. The company has a market cap of $508.08 million, a P/E ratio of -15.02 and a beta of 0.90.

Trevi Therapeutics (NASDAQ:TRVI) last issued its earnings results on Tuesday, March 18th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.01. As a group, sell-side analysts predict that Trevi Therapeutics will post -0.49 EPS for the current fiscal year.

Insider Transactions at Trevi Therapeutics

In related news, insider Farrell Simon sold 81,313 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $6.75, for a total transaction of $548,862.75. Following the completion of the sale, the insider now owns 76,900 shares in the company, valued at $519,075. The trade was a 51.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 24.37% of the company’s stock.

Institutional Investors Weigh In On Trevi Therapeutics

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