Trevi Therapeutics (NASDAQ:TRVI) Raised to Strong-Buy at Raymond James

Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) was upgraded by equities researchers at Raymond James from an "outperform" rating to a "strong-buy" rating in a report issued on Monday, MarketBeat.com reports. The firm presently has a $29.00 price objective on the stock, up from their prior price objective of $9.00. Raymond James' price objective indicates a potential upside of 361.05% from the stock's current price.

A number of other brokerages have also issued reports on TRVI. HC Wainwright boosted their target price on Trevi Therapeutics from $6.00 to $7.50 and gave the company a "buy" rating in a research report on Thursday, December 12th. Needham & Company LLC boosted their price objective on Trevi Therapeutics from $8.00 to $25.00 and gave the company a "buy" rating in a report on Monday. Finally, D. Boral Capital reissued a "buy" rating and set a $21.00 target price on shares of Trevi Therapeutics in a research note on Friday, March 7th. 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, Trevi Therapeutics presently has an average rating of "Buy" and an average price target of $15.94.

Trevi Therapeutics Stock Down 0.2 %

Shares of TRVI traded down $0.01 during trading on Monday, reaching $6.29. 1,071,036 shares of the company traded hands, compared to its average volume of 2,026,089. The stock has a 50-day simple moving average of $4.26 and a 200-day simple moving average of $3.58. Trevi Therapeutics has a twelve month low of $2.30 and a twelve month high of $7.39. The stock has a market cap of $483.49 million, a PE ratio of -14.30 and a beta of 0.90.

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Insider Activity at Trevi Therapeutics

In other Trevi Therapeutics news, insider Farrell Simon sold 81,313 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $6.75, for a total value of $548,862.75. Following the sale, the insider now owns 76,900 shares of the company's stock, valued at $519,075. This trade represents a 51.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 24.37% of the stock is currently owned by company insiders.

Institutional Trading of Trevi Therapeutics

A number of large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its stake in Trevi Therapeutics by 220.6% in the third quarter. JPMorgan Chase & Co. now owns 100,517 shares of the company's stock worth $336,000 after acquiring an additional 69,167 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Trevi Therapeutics by 10.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,264,166 shares of the company's stock worth $4,223,000 after purchasing an additional 117,418 shares during the last quarter. Barclays PLC grew its stake in shares of Trevi Therapeutics by 180.8% during the third quarter. Barclays PLC now owns 95,232 shares of the company's stock worth $319,000 after purchasing an additional 61,317 shares in the last quarter. State Street Corp grew its stake in shares of Trevi Therapeutics by 5.9% during the third quarter. State Street Corp now owns 952,912 shares of the company's stock worth $3,183,000 after purchasing an additional 53,051 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in Trevi Therapeutics by 130.9% in the third quarter. BNP Paribas Financial Markets now owns 11,930 shares of the company's stock valued at $40,000 after buying an additional 6,764 shares during the last quarter. 95.76% of the stock is currently owned by hedge funds and other 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.