Trevi Therapeutics, Inc. (NASDAQ:TRVI) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI) have been assigned an average recommendation of “Buy” from the ten ratings firms that are presently covering the firm, MarketBeat.com reports. Seven analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $15.94.

TRVI has been the topic of a number of research analyst reports. Oppenheimer boosted their price target on shares of Trevi Therapeutics from $12.00 to $20.00 and gave the stock an “outperform” rating in a report on Tuesday, March 11th. Raymond James upgraded Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the company from $9.00 to $29.00 in a research note on Monday, March 10th. HC Wainwright boosted their price objective on Trevi Therapeutics from $7.50 to $12.50 and gave the company a “buy” rating in a research note on Monday, March 10th. D. Boral Capital reissued a “buy” rating and set a $21.00 price objective on shares of Trevi Therapeutics in a report on Friday, March 7th. Finally, Needham & Company LLC boosted their price objective on Trevi Therapeutics from $8.00 to $25.00 and gave the stock a “buy” rating in a report on Monday, March 10th.

Trevi Therapeutics Stock Performance

Shares of NASDAQ:TRVI opened at $6.54 on Tuesday. The company’s 50-day moving average is $4.39 and its 200 day moving average is $3.66. The company has a market capitalization of $502.70 million, a P/E ratio of -14.86 and a beta of 0.90. Trevi Therapeutics has a fifty-two week low of $2.30 and a fifty-two week high of $7.39.

Insider Activity at Trevi Therapeutics

In related news, insider Farrell Simon sold 81,313 shares of the company’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 transaction of $548,862.75. Following the completion of the transaction, the insider now owns 76,900 shares in the company, valued at $519,075. This 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 is available through this hyperlink. 24.37% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Trevi Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Summit Investment Advisors Inc. raised its holdings in Trevi Therapeutics by 84.2% in 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 in the last quarter. BNP Paribas Financial Markets raised 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 worth $40,000 after purchasing an additional 6,764 shares in the last quarter. Raymond James Financial Inc. bought a new position in Trevi Therapeutics in the fourth quarter worth $49,000. Squarepoint Ops LLC bought a new position in Trevi Therapeutics in the fourth quarter worth $58,000. Finally, Two Sigma Advisers LP bought a new position in Trevi Therapeutics in the fourth quarter worth $66,000. Institutional investors own 95.76% of the company’s stock.

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.