Trevi Therapeutics (NASDAQ:TRVI) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Trevi Therapeutics (NASDAQ:TRVI) in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a $8.00 price objective on the stock.

A number of other equities research analysts have also commented on TRVI. Raymond James began coverage on shares of Trevi Therapeutics in a report on Friday, August 30th. They set an “outperform” rating and a $9.00 price target for the company. EF Hutton Acquisition Co. I raised Trevi Therapeutics to a “strong-buy” rating in a research note on Monday, August 19th. B. Riley reaffirmed a “buy” rating and set a $6.00 price target on shares of Trevi Therapeutics in a research report on Monday, October 7th. Leerink Partners began coverage on Trevi Therapeutics in a research report on Monday, September 9th. They issued an “outperform” rating and a $7.00 price objective on the stock. Finally, Leerink Partnrs upgraded Trevi Therapeutics to a “strong-buy” rating in a report on Monday, September 9th. Seven equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $7.43.

Trevi Therapeutics Stock Up 0.3 %

Shares of Trevi Therapeutics stock traded up $0.01 during trading on Friday, reaching $2.91. The company’s stock had a trading volume of 601,058 shares, compared to its average volume of 285,322. The company has a market cap of $211.24 million, a price-to-earnings ratio of -6.61 and a beta of 1.01. The firm’s 50-day moving average is $3.15 and its two-hundred day moving average is $2.91. Trevi Therapeutics has a 52-week low of $0.97 and a 52-week high of $4.00.

Trevi Therapeutics (NASDAQ:TRVI) last released its earnings results on Thursday, August 8th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.01). During the same quarter in the prior year, the company earned ($0.07) earnings per share. On average, equities research analysts anticipate that Trevi Therapeutics will post -0.47 EPS for the current year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. American Century Companies Inc. grew its stake in shares of Trevi Therapeutics by 17.1% in the second quarter. American Century Companies Inc. now owns 54,108 shares of the company’s stock worth $161,000 after acquiring an additional 7,902 shares during the period. MAI Capital Management raised its stake in Trevi Therapeutics by 0.7% during the 3rd quarter. MAI Capital Management now owns 1,327,285 shares of the company’s stock valued at $4,433,000 after buying an additional 8,789 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Trevi Therapeutics by 87.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,524 shares of the company’s stock valued at $73,000 after buying an additional 11,450 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new position in shares of Trevi Therapeutics during the 1st quarter valued at $47,000. Finally, Intech Investment Management LLC purchased a new position in shares of Trevi Therapeutics in the 3rd quarter worth $63,000. 95.76% of the stock is owned by institutional investors.

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.