Needham & Company LLC Issues Pessimistic Forecast for Trevi Therapeutics (NASDAQ:TRVI) Stock Price

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) had its price objective decreased by equities research analysts at Needham & Company LLC from $25.00 to $24.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Needham & Company LLC's price target points to a potential upside of 270.94% from the stock's current price.

A number of other analysts also recently commented on TRVI. HC Wainwright boosted their price objective on Trevi Therapeutics from $7.50 to $12.50 and gave the stock a "buy" rating in a research note on Monday, March 10th. Oppenheimer boosted their price objective on Trevi Therapeutics from $12.00 to $20.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 11th. Raymond James upgraded Trevi Therapeutics from an "outperform" rating to a "strong-buy" rating and lifted their price target for the company from $9.00 to $29.00 in a report on Monday, March 10th. Finally, D. Boral Capital reiterated a "buy" rating and set a $21.00 price target on shares of Trevi Therapeutics in a report on Friday, March 7th. Seven investment 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 company has a consensus rating of "Buy" and a consensus target price of $17.56.

Trevi Therapeutics Stock Down 2.1 %

Trevi Therapeutics stock traded down $0.14 during mid-day trading on Wednesday, hitting $6.47. 3,742,537 shares of the company's stock traded hands, compared to its average volume of 994,524. The firm has a 50 day moving average price of $4.60 and a 200 day moving average price of $3.76. The company has a market cap of $497.32 million, a PE ratio of -14.70 and a beta of 0.90. Trevi Therapeutics has a one year low of $2.30 and a one year high of $7.39.

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Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last announced its earnings results on Tuesday, March 18th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.01. On average, analysts expect that Trevi Therapeutics will post -0.49 earnings per share for the current fiscal year.

Insider Activity at Trevi Therapeutics

In related news, insider Farrell Simon sold 81,313 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $6.75, for a total transaction of $548,862.75. Following the transaction, the insider now directly owns 76,900 shares in the company, valued at $519,075. The trade was a 51.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 24.37% of the company's stock.

Institutional Investors Weigh In On Trevi Therapeutics

Several large investors have recently modified their holdings of the stock. Frazier Life Sciences Management L.P. grew its stake in shares of Trevi Therapeutics by 44.5% in the 4th 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 period. Woodline Partners LP grew its stake 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 purchasing an additional 2,606,370 shares during the period. Squarepoint Ops LLC bought a new stake in shares of Trevi Therapeutics in the 4th quarter valued at approximately $58,000. Two Sigma Advisers LP bought a new stake in shares of Trevi Therapeutics in the 4th quarter valued at approximately $66,000. Finally, Two Sigma Investments LP bought a new stake in shares of Trevi Therapeutics in the 4th quarter valued at approximately $560,000. 95.76% of the stock is currently owned by institutional investors.

Trevi Therapeutics Company Profile

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.