Trevi Therapeutics (NASDAQ:TRVI) Share Price Breaks Above 50 Day Moving Average – What’s Next?

Trevi Therapeutics, Inc. (NASDAQ:TRVI) passed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $14.27 and traded as high as $14.36. Trevi Therapeutics shares last traded at $14.33, with a volume of 2,539,464 shares changing hands.

Analyst Ratings Changes

TRVI has been the topic of a number of recent research reports. Oppenheimer reiterated an “outperform” rating on shares of Trevi Therapeutics in a research note on Friday, September 25th. B. Riley Financial raised their price objective on shares of Trevi Therapeutics from $21.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Cantor Fitzgerald raised their price objective on shares of Trevi Therapeutics from $25.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. HC Wainwright lifted their price objective on shares of Trevi Therapeutics from $21.00 to $24.00 and gave the company a “buy” rating in a report on Monday, July 20th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $40.00 target price on shares of Trevi Therapeutics in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Trevi Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $27.08.

Trevi Therapeutics Stock Up 11.9%

The stock has a market capitalization of $2.04 billion, a PE ratio of -42.15 and a beta of 1.15. The stock has a fifty day moving average of $14.27 and a 200-day moving average of $14.39.

Trevi Therapeutics (NASDAQ:TRVI) last released its earnings results on Thursday, August 6th. The company reported ($0.11) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.11). Equities research analysts expect that Trevi Therapeutics, Inc. will post -0.48 EPS for the current year.

Insider Activity

In other Trevi Therapeutics news, Director Michael Heffernan sold 39,473 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $15.09, for a total transaction of $595,647.57. Following the transaction, the director owned 6,351 shares of the company’s stock, valued at approximately $95,836.59. This trade represents a 86.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 15.39% of the company’s stock.

Institutional Investors Weigh In On Trevi Therapeutics

Several hedge funds have recently made changes to their positions in the business. KBC Group NV acquired a new position in shares of Trevi Therapeutics in the first quarter valued at approximately $29,000. Sterling Capital Management LLC raised its stake in shares of Trevi Therapeutics by 848.7% during the third quarter. Sterling Capital Management LLC now owns 3,567 shares of the company’s stock worth $51,000 after purchasing an additional 3,191 shares during the last quarter. Avidity Partners Management LP acquired a new stake in shares of Trevi Therapeutics during the first quarter worth $79,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Trevi Therapeutics during the third quarter worth $104,000. Finally, Amundi acquired a new stake in shares of Trevi Therapeutics during the second quarter worth $192,000. 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 developing treatments for chronic conditions that have limited therapeutic options. The company’s lead product candidate is Haduvio, an oral extended-release formulation of nalbuphine, an opioid receptor modulator designed to combine kappa-opioid receptor agonism with mu-opioid receptor antagonism.

Trevi is evaluating Haduvio in conditions involving chronic cough and severe itching. Its clinical development programs have included studies in chronic cough associated with idiopathic pulmonary fibrosis, a progressive lung disease, and chronic pruritus associated with systemic sclerosis, an autoimmune connective-tissue disorder.