Trevi Therapeutics (NASDAQ:TRVI) Sees Large Volume Increase – Should You Buy?

Trevi Therapeutics, Inc. (NASDAQ:TRVI) saw unusually-strong trading volume on Friday . 2,360,226 shares changed hands during trading, an increase of 41% from the previous session’s volume of 1,678,129 shares.The stock last traded at $20.1170 and had previously closed at $17.36.

Analyst Upgrades and Downgrades

TRVI has been the subject of a number of recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Trevi Therapeutics in a research note on Monday, April 20th. Needham & Company LLC reiterated a “buy” rating and issued a $23.00 price target on shares of Trevi Therapeutics in a research report on Wednesday, May 20th. Wall Street Zen raised Trevi Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. JonesTrading reduced their target price on Trevi Therapeutics from $25.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, March 19th. Finally, D. Boral Capital reiterated a “buy” rating and set a $19.00 price target on shares of Trevi Therapeutics in a research report on Friday, April 17th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $22.67.

Trevi Therapeutics Trading Up 9.8%

The company’s fifty day simple moving average is $15.76 and its 200 day simple moving average is $13.29. The stock has a market capitalization of $2.71 billion, a P/E ratio of -59.56 and a beta of 1.00.

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

Hedge Funds Weigh In On Trevi Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Rubric Capital Management LP raised its holdings in shares of Trevi Therapeutics by 88.0% in the 2nd quarter. Rubric Capital Management LP now owns 8,531,860 shares of the company’s stock valued at $46,669,000 after acquiring an additional 3,993,325 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Trevi Therapeutics by 10.4% during the fourth quarter. Vanguard Group Inc. now owns 6,434,655 shares of the company’s stock worth $80,562,000 after purchasing an additional 607,669 shares in the last quarter. Viking Global Investors LP grew its holdings in shares of Trevi Therapeutics by 232.4% during the third quarter. Viking Global Investors LP now owns 5,128,875 shares of the company’s stock worth $46,929,000 after purchasing an additional 3,585,875 shares in the last quarter. Vivo Capital LLC increased its position in shares of Trevi Therapeutics by 13.5% in the third quarter. Vivo Capital LLC now owns 5,094,668 shares of the company’s stock worth $46,616,000 after purchasing an additional 606,765 shares during the last quarter. Finally, Marshall Wace LLP increased its position in shares of Trevi Therapeutics by 95.4% in the third quarter. Marshall Wace LLP now owns 4,841,751 shares of the company’s stock worth $44,302,000 after purchasing an additional 2,363,835 shares during the last quarter. 95.76% of the stock is currently owned by institutional investors.

Trevi Therapeutics Company Profile

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.