Trevi Therapeutics (NASDAQ:TRVI) Price Target Raised to $31.00

Trevi Therapeutics (NASDAQ:TRVI) had its target price lifted by B. Riley Financial from $21.00 to $31.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. B. Riley Financial’s price objective indicates a potential upside of 63.97% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. Morgan Stanley reaffirmed an “overweight” rating and issued a $20.00 price objective on shares of Trevi Therapeutics in a report on Wednesday, May 6th. HC Wainwright upped their target price on Trevi Therapeutics from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday. D. Boral Capital reaffirmed a “buy” rating and issued a $19.00 target price on shares of Trevi Therapeutics in a report on Friday, April 17th. Needham & Company LLC reiterated a “buy” rating and issued a $23.00 price target on shares of Trevi Therapeutics in a research note on Wednesday, May 20th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Trevi Therapeutics in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Trevi Therapeutics has an average rating of “Moderate Buy” and an average target price of $23.80.

Trevi Therapeutics Stock Down 0.9%

Shares of Trevi Therapeutics stock opened at $18.91 on Monday. Trevi Therapeutics has a twelve month low of $6.55 and a twelve month high of $20.22. The company has a 50-day simple moving average of $15.85 and a two-hundred day simple moving average of $13.33. The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of -59.38 and a beta of 1.00.

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). On average, sell-side analysts anticipate that Trevi Therapeutics will post -0.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Trevi Therapeutics

Several large investors have recently added to or reduced their stakes in TRVI. Hilton Head Capital Partners LLC grew its stake in Trevi Therapeutics by 32.6% in the 1st quarter. Hilton Head Capital Partners LLC now owns 4,250 shares of the company’s stock valued at $51,000 after purchasing an additional 1,044 shares during the period. AlphaCentric Advisors LLC raised its stake in shares of Trevi Therapeutics by 5.7% during the 1st quarter. AlphaCentric Advisors LLC now owns 23,970 shares of the company’s stock worth $286,000 after purchasing an additional 1,303 shares during the period. Kennedy Capital Management LLC boosted its holdings in shares of Trevi Therapeutics by 2.4% in the 4th quarter. Kennedy Capital Management LLC now owns 56,269 shares of the company’s stock worth $704,000 after buying an additional 1,336 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Trevi Therapeutics by 32.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,231 shares of the company’s stock valued at $78,000 after buying an additional 1,523 shares during the period. Finally, Oppenheimer & Co. Inc. raised its position in Trevi Therapeutics by 2.1% in the fourth quarter. Oppenheimer & Co. Inc. now owns 100,698 shares of the company’s stock worth $1,261,000 after acquiring an additional 2,030 shares during the period. Institutional investors and hedge funds own 95.76% of the company’s stock.

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.