Trevi Therapeutics, Inc. (NASDAQ:TRVI) Given Consensus Recommendation of "Buy" by Brokerages

Shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI - Get Free Report) have been assigned an average recommendation of "Buy" from the ten ratings firms that are presently covering the company, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a buy rating and three have issued a strong buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $17.56.

Several equities analysts have weighed in on the company. Raymond James raised Trevi Therapeutics from an "outperform" rating to a "strong-buy" rating and increased their target price for the company from $9.00 to $29.00 in a research note on Monday, March 10th. B. Riley reiterated a "buy" rating and issued a $20.00 price target (up from $11.00) on shares of Trevi Therapeutics in a research report on Wednesday. HC Wainwright reissued a "buy" rating and set a $12.50 price objective on shares of Trevi Therapeutics in a research note on Wednesday. Needham & Company LLC lowered their target price on shares of Trevi Therapeutics from $25.00 to $24.00 and set a "buy" rating for the company in a research note on Wednesday. Finally, D. Boral Capital reissued a "buy" rating and set a $21.00 price target on shares of Trevi Therapeutics in a research report on Wednesday.

Trevi Therapeutics Trading Down 2.1 %

Shares of NASDAQ:TRVI traded down $0.14 during trading on Tuesday, hitting $6.47. 3,742,337 shares of the company's stock were exchanged, compared to its average volume of 992,142. The firm has a 50-day moving average price of $4.55 and a two-hundred day moving average price of $3.73. Trevi Therapeutics has a 1-year low of $2.30 and a 1-year high of $7.39. The firm has a market cap of $497.32 million, a P/E ratio of -14.70 and a beta of 0.90.

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Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last released its earnings results on Tuesday, March 18th. The company reported ($0.11) EPS for the quarter, topping analysts' consensus estimates of ($0.12) by $0.01. As a group, research analysts predict that Trevi Therapeutics will post -0.49 EPS for the current year.

Insider Buying and Selling

In related news, insider Farrell Simon sold 81,313 shares of the firm's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $6.75, for a total value of $548,862.75. Following the completion of the transaction, the insider now owns 76,900 shares of the company's stock, valued at approximately $519,075. This trade represents a 51.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 24.37% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Trevi Therapeutics

Several hedge funds have recently modified their holdings of TRVI. Frazier Life Sciences Management L.P. boosted its position in Trevi Therapeutics by 44.5% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 10,664,774 shares of the company's stock valued at $43,939,000 after purchasing an additional 3,283,684 shares during the last quarter. Woodline Partners LP boosted its holdings in shares of Trevi Therapeutics by 429.9% in the 4th quarter. Woodline Partners LP now owns 3,212,597 shares of the company's stock valued at $13,236,000 after buying an additional 2,606,370 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of Trevi Therapeutics in the fourth quarter valued at $58,000. Two Sigma Advisers LP bought a new position in shares of Trevi Therapeutics in the fourth quarter valued at $66,000. Finally, Two Sigma Investments LP acquired a new position in Trevi Therapeutics during the fourth quarter worth $560,000. Institutional investors 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.