Trevi Therapeutics (NASDAQ:TRVI) Trading 5.7% Higher - What's Next?

Trevi Therapeutics, Inc. (NASDAQ:TRVI - Get Free Report)'s share price was up 5.7% on Tuesday . The company traded as high as $6.78 and last traded at $6.77. Approximately 117,424 shares changed hands during trading, a decline of 88% from the average daily volume of 994,539 shares. The stock had previously closed at $6.40.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. B. Riley reissued a "buy" rating and issued a $20.00 price target (up from $11.00) on shares of Trevi Therapeutics in a report on Wednesday, March 19th. Raymond James raised Trevi Therapeutics from an "outperform" rating to a "strong-buy" rating and lifted their price objective for the company from $9.00 to $29.00 in a research note on Monday, March 10th. Oppenheimer upped their target price on Trevi Therapeutics from $12.00 to $20.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 11th. Needham & Company LLC dropped their price target on Trevi Therapeutics from $25.00 to $24.00 and set a "buy" rating for the company in a research report on Wednesday, March 19th. Finally, D. Boral Capital restated a "buy" rating and issued a $21.00 price objective on shares of Trevi Therapeutics in a research report on Wednesday, March 19th. Seven analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $17.56.

Trevi Therapeutics Price Performance

The company has a 50 day simple moving average of $4.87 and a 200-day simple moving average of $3.87. The firm has a market cap of $628.43 million, a PE ratio of -14.77 and a beta of 0.90.

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last announced its quarterly earnings data on Tuesday, March 18th. The company reported ($0.11) earnings per share for the quarter, topping analysts' consensus estimates of ($0.12) by $0.01. On average, sell-side analysts predict that Trevi Therapeutics, Inc. will post -0.49 EPS for the current fiscal year.

Insider Buying and Selling at Trevi Therapeutics

In other news, CEO Jennifer L. Good sold 5,263 shares of the business's stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $6.58, for a total value of $34,630.54. Following the completion of the sale, the chief executive officer now owns 213,313 shares of the company's stock, valued at approximately $1,403,599.54. The trade was a 2.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Farrell Simon sold 81,313 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $6.75, for a total value of $548,862.75. Following the transaction, the insider now owns 76,900 shares in the company, valued at approximately $519,075. The trade was a 51.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 24.37% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TRVI. Intech Investment Management LLC purchased a new stake in Trevi Therapeutics during the 3rd quarter valued at $63,000. BNP Paribas Financial Markets boosted its holdings in shares of 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. Fred Alger Management LLC bought a new stake in shares of Trevi Therapeutics in the third quarter worth about $256,000. State Street Corp increased its holdings in Trevi Therapeutics by 5.9% during 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. Finally, Barclays PLC raised its position in 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 purchasing an additional 61,317 shares during the last quarter. 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.