Trevi Therapeutics (NASDAQ:TRVI) Lifted to Hold at Zacks Investment Research

Trevi Therapeutics (NASDAQ:TRVI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Thursday, Zacks.com reports.

According to Zacks, “Trevi Therapeutics Inc. is a clinical-stage biopharmaceutical company. It is focused on the development and commercialization of nalbuphine ER to treat serious neurologically mediated conditions. The company is currently developing nalbuphine ER for the treatment of chronic pruritus, chronic cough in patients with idiopathic pulmonary fibrosis and levodopa-induced dyskinesia in patients with Parkinson’s disease. Trevi Therapeutics Inc. is based in New Haven, Connecticut. “

Trevi Therapeutics stock traded up $0.12 during midday trading on Thursday, hitting $3.68. 926 shares of the company’s stock were exchanged, compared to its average volume of 11,097. Trevi Therapeutics has a 52-week low of $3.68 and a 52-week high of $10.62. The stock’s 50-day moving average price is $4.68.

Trevi Therapeutics (NASDAQ:TRVI) last posted its earnings results on Monday, August 12th. The company reported ($0.63) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.41) by ($0.22). Equities research analysts predict that Trevi Therapeutics will post -2.44 EPS for the current year.

Institutional investors have recently bought and sold shares of the stock. Omega Fund Management LLC purchased a new position in Trevi Therapeutics during the second quarter worth about $9,476,000. Morgan Stanley purchased a new position in Trevi Therapeutics during the second quarter worth about $42,000. BlackRock Inc. purchased a new position in Trevi Therapeutics during the second quarter worth about $26,000. Vanguard Group Inc. purchased a new position in Trevi Therapeutics during the second quarter worth about $886,000. Finally, Northern Trust Corp purchased a new position in Trevi Therapeutics during the second quarter worth about $124,000. Institutional investors and hedge funds own 79.48% of the company’s stock.

About Trevi Therapeutics

Trevi Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of nalbuphine ER to treat serious neurologically mediated conditions. The company's nalbuphine ER, which is in Phase IIb/III clinical trial is an oral extended release formulation of nalbuphine that is used for the treatment of chronic pruritus, chronic cough in patients with idiopathic pulmonary fibrosis, and levodopa-induced dyskinesia in patients with Parkinson's disease.

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