Trevi Therapeutics (NASDAQ:TRVI) Stock Price Up 7.4% – Should You Buy?

Trevi Therapeutics, Inc. (NASDAQ:TRVI)’s stock price traded up 7.4% during trading on Tuesday . The company traded as high as $17.87 and last traded at $17.75. Approximately 779,954 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 1,657,574 shares. The stock had previously closed at $16.52.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on TRVI shares. Morgan Stanley reaffirmed an “overweight” rating and set a $20.00 price objective on shares of Trevi Therapeutics in a report on Wednesday, May 6th. JonesTrading reduced their target price on Trevi Therapeutics from $25.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, March 19th. Wall Street Zen upgraded Trevi Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. HC Wainwright reaffirmed a “buy” rating and set a $21.00 price target on shares of Trevi Therapeutics in a report on Wednesday, May 6th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $23.00 price objective on shares of Trevi Therapeutics in a research report on Wednesday, May 20th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Trevi Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $22.67.

Trevi Therapeutics Stock Performance

The stock has a market cap of $2.52 billion, a price-to-earnings ratio of -55.56 and a beta of 1.00. The firm’s 50-day simple moving average is $15.55 and its two-hundred day simple moving average is $13.18.

Trevi Therapeutics (NASDAQ:TRVI) last announced its earnings results on Tuesday, May 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). Equities research analysts expect that Trevi Therapeutics, Inc. will post -0.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TRVI. KBC Group NV acquired a new stake in shares of Trevi Therapeutics in the 1st quarter valued at $29,000. Hilton Head Capital Partners LLC bought a new position in Trevi Therapeutics in the fourth quarter valued at about $40,000. Caitong International Asset Management Co. Ltd bought a new position in Trevi Therapeutics in the fourth quarter valued at about $50,000. Russell Investments Group Ltd. increased its position in Trevi Therapeutics by 194.5% in the second quarter. Russell Investments Group Ltd. now owns 4,536 shares of the company’s stock worth $25,000 after purchasing an additional 2,996 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Trevi Therapeutics by 32.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,231 shares of the company’s stock worth $78,000 after purchasing an additional 1,523 shares during the period. 95.76% of the stock is currently owned by institutional investors.

About Trevi Therapeutics

Trevi Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the development of novel non-opioid therapies for the management of chronic and acute pain. The company leverages proprietary drug delivery platforms and targeted molecular approaches to address high unmet needs in cancer-related pain, chemotherapy-induced neuropathy and other severe pain conditions.

Its lead product candidate is a proprietary formulation of tetrodotoxin (TTX), a sodium-channel blocking agent being evaluated in early-stage clinical trials for moderate-to-severe pain associated with advanced cancer and peripheral neuropathy.