Trevi Therapeutics (NASDAQ:TRVI) Receives "Buy" Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Trevi Therapeutics (NASDAQ:TRVI - Free Report) in a research report report published on Friday, Benzinga reports. Needham & Company LLC currently has a $8.00 price objective on the stock.

Other equities research analysts have also recently issued research reports about the company. Rodman & Renshaw initiated coverage on Trevi Therapeutics in a research note on Thursday, June 13th. They issued a buy rating and a $7.00 price target on the stock. Leerink Partners assumed coverage on shares of Trevi Therapeutics in a research note on Monday, September 9th. They set an outperform rating and a $7.00 target price for the company. Raymond James started coverage on shares of Trevi Therapeutics in a report on Friday, August 30th. They set an outperform rating and a $9.00 target price for the company. Leerink Partnrs raised shares of Trevi Therapeutics to a strong-buy rating in a report on Monday, September 9th. Finally, HC Wainwright began coverage on Trevi Therapeutics in a report on Friday, August 30th. They set a buy rating and a $6.00 price objective for the company. Six research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Buy and a consensus price target of $7.67.

Trevi Therapeutics Price Performance

NASDAQ TRVI remained flat at $3.02 on Friday. 382,277 shares of the company's stock traded hands, compared to its average volume of 463,600. The business has a 50 day simple moving average of $3.04 and a two-hundred day simple moving average of $2.92. Trevi Therapeutics has a 1 year low of $0.97 and a 1 year high of $4.00. The stock has a market capitalization of $219.22 million, a P/E ratio of -8.88 and a beta of 0.97.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.12) EPS for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.01). During the same period last year, the company posted ($0.07) earnings per share. On average, equities analysts expect that Trevi Therapeutics will post -0.47 EPS for the current fiscal year.

Insider Activity at Trevi Therapeutics

In other Trevi Therapeutics news, CEO Jennifer L. Good sold 10,981 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $3.02, for a total transaction of $33,162.62. Following the sale, the chief executive officer now directly owns 213,313 shares in the company, valued at $644,205.26. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Trevi Therapeutics news, insider Thomas Sciascia sold 18,660 shares of the firm's stock in a transaction on Friday, August 16th. The stock was sold at an average price of $2.76, for a total value of $51,501.60. Following the sale, the insider now owns 220,315 shares of the company's stock, valued at approximately $608,069.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jennifer L. Good sold 10,981 shares of the firm's stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $3.02, for a total value of $33,162.62. Following the completion of the sale, the chief executive officer now directly owns 213,313 shares in the company, valued at $644,205.26. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 40,355 shares of company stock valued at $116,663 over the last quarter. 24.37% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Trevi Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of TRVI. American Century Companies Inc. lifted its holdings in shares of Trevi Therapeutics by 17.1% during the second quarter. American Century Companies Inc. now owns 54,108 shares of the company's stock worth $161,000 after purchasing an additional 7,902 shares during the period. The Manufacturers Life Insurance Company raised its position in Trevi Therapeutics by 87.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,524 shares of the company's stock worth $73,000 after purchasing an additional 11,450 shares during the last quarter. Price T Rowe Associates Inc. MD acquired a new position in Trevi Therapeutics during the 1st quarter worth about $47,000. Hsbc Holdings PLC bought a new stake in shares of Trevi Therapeutics in the 2nd quarter valued at about $61,000. Finally, Rhumbline Advisers increased its stake in shares of Trevi Therapeutics by 44.8% in the second quarter. Rhumbline Advisers now owns 75,218 shares of the company's stock valued at $224,000 after buying an additional 23,263 shares during the period. Institutional investors and hedge funds own 95.76% of the company's stock.

About Trevi Therapeutics

Trevi Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapy Haduvio for the treatment of chronic cough in idiopathic pulmonary fibrosis (IPF) and refractory chronic cough (RCC) conditions targeting the central and peripheral nervous systems.