Trevi Therapeutics, Inc. (NASDAQ:TRVI - Get Free Report) shares gapped up before the market opened on Wednesday following a better than expected earnings announcement. The stock had previously closed at $6.56, but opened at $6.98. Trevi Therapeutics shares last traded at $6.67, with a volume of 192,160 shares changing hands.
The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.01.
Wall Street Analyst Weigh In
Several analysts have recently commented on the stock. HC Wainwright reiterated a "buy" rating and issued a $12.50 price target on shares of Trevi Therapeutics in a research report on Wednesday. Needham & Company LLC lowered their price target on shares of Trevi Therapeutics from $25.00 to $24.00 and set a "buy" rating on the stock in a research report on Wednesday. Oppenheimer increased their price target on shares of Trevi Therapeutics from $12.00 to $20.00 and gave the company an "outperform" rating in a research report on Tuesday, March 11th. 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. Finally, Raymond James upgraded shares of Trevi Therapeutics from an "outperform" rating to a "strong-buy" rating and increased their price target for the company from $9.00 to $29.00 in a research report on Monday, March 10th. Seven research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $17.56.
Read Our Latest Stock Analysis on Trevi Therapeutics
Insider Buying and Selling
In related news, insider Farrell Simon sold 81,313 shares of the firm's 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 owns 76,900 shares in the company, valued at approximately $519,075. This trade represents a 51.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 24.37% of the stock is owned by company insiders.
Hedge Funds Weigh In On Trevi Therapeutics
Large investors have recently bought and sold shares of the stock. Summit Investment Advisors Inc. raised its stake in Trevi Therapeutics by 84.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,332 shares of the company's stock worth $26,000 after purchasing an additional 2,894 shares during the period. BNP Paribas Financial Markets raised its stake 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 purchasing an additional 6,764 shares during the period. Raymond James Financial Inc. purchased a new position in Trevi Therapeutics during the fourth quarter worth approximately $49,000. Squarepoint Ops LLC purchased a new position in Trevi Therapeutics during the fourth quarter worth approximately $58,000. Finally, Intech Investment Management LLC purchased a new position in Trevi Therapeutics during the third quarter worth approximately $63,000. Hedge funds and other institutional investors own 95.76% of the company's stock.
Trevi Therapeutics Stock Down 2.1 %
The company has a market cap of $497.32 million, a PE ratio of -14.70 and a beta of 0.90. The stock's 50 day simple moving average is $4.60 and its two-hundred day simple moving average is $3.76.
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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