Needham & Company LLC reiterated their buy rating on shares of Trevi Therapeutics (NASDAQ:TRVI - Free Report) in a report released on Tuesday,Benzinga reports. The brokerage currently has a $24.00 price target on the stock.
TRVI has been the topic of several other research reports. D. Boral Capital reissued a "buy" rating and set a $21.00 price objective on shares of Trevi Therapeutics in a report on Wednesday, March 19th. B. Riley reiterated a "buy" rating and set a $20.00 price target (up previously from $11.00) on shares of Trevi Therapeutics in a research note on Wednesday, March 19th. Oppenheimer increased their price objective on shares of Trevi Therapeutics from $12.00 to $20.00 and gave the company an "outperform" rating in a research note on Tuesday, March 11th. Raymond James raised shares of Trevi Therapeutics from an "outperform" rating to a "strong-buy" rating and raised their price objective for the stock from $9.00 to $29.00 in a report on Monday, March 10th. Finally, HC Wainwright reissued a "buy" rating and issued a $12.50 target price on shares of Trevi Therapeutics in a research note on Wednesday, March 19th. Seven equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $17.56.
Read Our Latest Stock Analysis on TRVI
Trevi Therapeutics Trading Up 5.3 %
NASDAQ:TRVI traded up $0.28 during trading hours on Tuesday, hitting $5.56. 3,700,224 shares of the company traded hands, compared to its average volume of 1,078,709. The stock has a market capitalization of $537.55 million, a price-to-earnings ratio of -12.64 and a beta of 0.41. The firm has a 50-day moving average of $5.30 and a 200 day moving average of $4.07. Trevi Therapeutics has a twelve month low of $2.30 and a twelve month high of $7.39.
Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last announced its quarterly earnings data on Tuesday, March 18th. The company reported ($0.11) EPS for the quarter, beating analysts' consensus estimates of ($0.12) by $0.01. Equities research analysts predict that Trevi Therapeutics will post -0.49 earnings per share for the current fiscal year.
Insider Activity
In other news, insider Farrell Simon sold 81,313 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $6.75, for a total transaction of $548,862.75. Following the sale, the insider now directly owns 76,900 shares of the company's stock, valued at $519,075. This 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 available through this link. Also, CEO Jennifer L. Good sold 5,263 shares of the business's stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $6.58, for a total transaction of $34,630.54. Following the completion of the transaction, the chief executive officer now owns 213,313 shares of the company's stock, valued at $1,403,599.54. This trade represents a 2.41 % decrease in their position. The disclosure for this sale can be found here. 24.37% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Trevi Therapeutics
Several hedge funds have recently added to or reduced their stakes in TRVI. JPMorgan Chase & Co. lifted its position in Trevi Therapeutics by 220.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 100,517 shares of the company's stock valued at $336,000 after purchasing an additional 69,167 shares during the period. Geode Capital Management LLC lifted its holdings in Trevi Therapeutics by 10.2% in the third quarter. Geode Capital Management LLC now owns 1,264,166 shares of the company's stock valued at $4,223,000 after buying an additional 117,418 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Trevi Therapeutics by 14.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 173,063 shares of the company's stock valued at $713,000 after acquiring an additional 22,145 shares during the last quarter. Barclays PLC raised its position in shares of Trevi Therapeutics by 180.8% during the 3rd quarter. Barclays PLC now owns 95,232 shares of the company's stock valued at $319,000 after acquiring an additional 61,317 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Trevi Therapeutics by 5.9% in the 3rd quarter. State Street Corp now owns 952,912 shares of the company's stock valued at $3,183,000 after purchasing an additional 53,051 shares during the period. Institutional investors own 95.76% of the company's stock.
Trevi Therapeutics Company Profile
(
Get Free Report)
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.
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