Trevi Therapeutics (NASDAQ:TRVI) Downgraded by Wall Street Zen to Sell

Wall Street Zen cut shares of Trevi Therapeutics (NASDAQ:TRVI) from a hold rating to a sell rating in a report released on Saturday morning.

TRVI has been the topic of several other reports. Morgan Stanley restated an “overweight” rating and issued a $20.00 price target on shares of Trevi Therapeutics in a research note on Wednesday, May 6th. Stifel Nicolaus set a $30.00 price objective on shares of Trevi Therapeutics in a research note on Friday, May 8th. B. Riley Financial boosted their price objective on shares of Trevi Therapeutics from $21.00 to $31.00 and gave the company a “buy” rating in a report on Monday, July 20th. Needham & Company LLC restated a “buy” rating and set a $23.00 target price on shares of Trevi Therapeutics in a research report on Wednesday, May 20th. Finally, D. Boral Capital restated a “buy” rating and set a $19.00 target price on shares of Trevi Therapeutics in a research report on Friday, April 17th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $24.91.

Trevi Therapeutics Stock Performance

Shares of TRVI opened at $17.53 on Friday. The firm has a market cap of $2.49 billion, a P/E ratio of -54.78 and a beta of 1.00. Trevi Therapeutics has a 52 week low of $6.55 and a 52 week high of $20.22. The firm’s 50-day simple moving average is $16.11 and its 200 day simple moving average is $13.50.

Trevi Therapeutics (NASDAQ:TRVI) last posted its earnings results on Tuesday, May 5th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.02). As a group, equities analysts forecast that Trevi Therapeutics will post -0.47 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TRVI. Russell Investments Group Ltd. boosted its holdings in shares of Trevi Therapeutics by 194.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 4,536 shares of the company’s stock valued at $25,000 after purchasing an additional 2,996 shares in the last quarter. KBC Group NV bought a new stake in shares of Trevi Therapeutics during the 1st quarter worth $29,000. Hilton Head Capital Partners LLC bought a new stake in shares of Trevi Therapeutics during the 4th quarter worth $40,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Trevi Therapeutics during the 4th quarter worth $50,000. Finally, Strs Ohio acquired a new stake in Trevi Therapeutics in the first quarter valued at about $52,000. 95.76% of the stock is currently owned by institutional investors and hedge funds.

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.