Trevi Therapeutics (NASDAQ:TRVI) Stock Rating Reaffirmed by Needham & Company LLC

Trevi Therapeutics (NASDAQ:TRVI)‘s stock had its “buy” rating reiterated by stock analysts at Needham & Company LLC in a report released on Friday, Benzinga reports. They presently have a $8.00 price objective on the stock. Needham & Company LLC’s price target points to a potential upside of 164.90% from the stock’s current price.

TRVI has been the subject of a number of other reports. EF Hutton Acquisition Co. I raised shares of Trevi Therapeutics to a “strong-buy” rating in a research note on Monday, August 19th. Raymond James started coverage on Trevi Therapeutics in a report on Friday, August 30th. They issued an “outperform” rating and a $9.00 price target for the company. Leerink Partners started coverage on Trevi Therapeutics in a research note on Monday, September 9th. They set an “outperform” rating and a $7.00 price objective on the stock. Leerink Partnrs upgraded Trevi Therapeutics to a “strong-buy” rating in a research report on Monday, September 9th. Finally, Rodman & Renshaw started coverage on shares of Trevi Therapeutics in a report on Thursday, June 13th. They issued a “buy” rating and a $7.00 target price on the stock. Six research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Trevi Therapeutics presently has an average rating of “Buy” and an average target price of $7.67.

Trevi Therapeutics Stock Performance

Shares of TRVI stock opened at $3.02 on Friday. The stock has a market cap of $219.22 million, a PE ratio of -8.88 and a beta of 0.97. Trevi Therapeutics has a 1 year low of $0.97 and a 1 year high of $4.00. The stock has a fifty day moving average price of $3.04 and a 200 day moving average price of $2.91.

Trevi Therapeutics (NASDAQ:TRVI) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.01). During the same quarter in the previous year, the business earned ($0.07) EPS. As a group, equities research analysts predict that Trevi Therapeutics will post -0.47 earnings per share for the current year.

Insider Buying and Selling

In other Trevi Therapeutics news, CEO Jennifer L. Good sold 10,981 shares of Trevi Therapeutics stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $3.02, for a total value of $33,162.62. Following the completion of the sale, the chief executive officer now owns 213,313 shares in the company, valued at $644,205.26. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Thomas Sciascia sold 18,660 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $2.76, for a total transaction of $51,501.60. Following the completion of the sale, the insider now directly owns 220,315 shares in the company, valued at $608,069.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jennifer L. Good sold 10,981 shares of Trevi Therapeutics stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $3.02, for a total value of $33,162.62. Following the completion of the transaction, the chief executive officer now owns 213,313 shares in the company, valued at $644,205.26. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,355 shares of company stock worth $116,663. 24.37% of the stock is owned by company insiders.

Institutional Investors Weigh In On Trevi Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ally Bridge Group NY LLC acquired a new stake in Trevi Therapeutics during the 2nd quarter worth approximately $4,395,000. Opaleye Management Inc. increased its position in shares of Trevi Therapeutics by 48.6% in the fourth quarter. Opaleye Management Inc. now owns 2,535,000 shares of the company’s stock worth $3,397,000 after acquiring an additional 829,100 shares in the last quarter. Logos Global Management LP raised its stake in shares of Trevi Therapeutics by 27.3% in the 2nd quarter. Logos Global Management LP now owns 2,800,000 shares of the company’s stock valued at $8,344,000 after acquiring an additional 600,000 shares during the period. Frazier Life Sciences Management L.P. lifted its holdings in shares of Trevi Therapeutics by 7.3% during the 4th quarter. Frazier Life Sciences Management L.P. now owns 7,381,090 shares of the company’s stock valued at $9,891,000 after acquiring an additional 500,000 shares in the last quarter. Finally, Rosalind Advisors Inc. boosted its position in Trevi Therapeutics by 50.3% during the 2nd quarter. Rosalind Advisors Inc. now owns 1,391,577 shares of the company’s stock worth $4,147,000 after purchasing an additional 465,561 shares during the period. 95.76% of the stock is currently owned by institutional investors and hedge funds.

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.