Trevi Therapeutics, Inc. (NASDAQ:TRVI - Get Free Report) hit a new 52-week high during mid-day trading on Monday after Oppenheimer raised their price target on the stock from $12.00 to $20.00. Oppenheimer currently has an outperform rating on the stock. Trevi Therapeutics traded as high as $7.39 and last traded at $6.49, with a volume of 25775634 shares. The stock had previously closed at $4.30.
TRVI has been the topic of several other research reports. HC Wainwright boosted their price objective on Trevi Therapeutics from $7.50 to $12.50 and gave the company a "buy" rating in a report on Monday. Needham & Company LLC raised their price objective on shares of Trevi Therapeutics from $8.00 to $25.00 and gave the company a "buy" rating in a report on Monday. Raymond James upgraded Trevi Therapeutics from an "outperform" rating to a "strong-buy" rating and boosted their target price for the stock from $9.00 to $29.00 in a research note on Monday. Finally, D. Boral Capital reissued a "buy" rating and issued a $21.00 price target on shares of Trevi Therapeutics in a research report on Friday, March 7th. Seven analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Trevi Therapeutics currently has an average rating of "Buy" and a consensus target price of $15.94.
Get Our Latest Stock Report on TRVI
Insider Activity
In other news, insider Farrell Simon sold 81,313 shares of the business's stock in a transaction dated Monday, March 10th. The shares were 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 through this link. Corporate insiders own 24.37% of the company's stock.
Institutional Investors Weigh In On Trevi Therapeutics
A number of institutional investors have recently added to or reduced their stakes in TRVI. Summit Investment Advisors Inc. raised its stake in shares of Trevi Therapeutics by 84.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,332 shares of the company's stock worth $26,000 after buying an additional 2,894 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in Trevi Therapeutics by 130.9% during the third quarter. BNP Paribas Financial Markets now owns 11,930 shares of the company's stock worth $40,000 after acquiring an additional 6,764 shares during the period. Raymond James Financial Inc. purchased a new position in Trevi Therapeutics in the fourth quarter worth $49,000. Squarepoint Ops LLC purchased a new position in Trevi Therapeutics in the fourth quarter worth $58,000. Finally, Intech Investment Management LLC acquired a new stake in Trevi Therapeutics in the third quarter valued at $63,000. Hedge funds and other institutional investors own 95.76% of the company's stock.
Trevi Therapeutics Stock Performance
The company has a market capitalization of $483.49 million, a PE ratio of -14.30 and a beta of 0.90. The firm's 50-day simple moving average is $4.26 and its 200 day simple moving average is $3.58.
About Trevi Therapeutics
(
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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