HC Wainwright Increases Trevi Therapeutics (NASDAQ:TRVI) Price Target to $12.50

Trevi Therapeutics (NASDAQ:TRVI) had its price target raised by HC Wainwright from $7.50 to $12.50 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price target suggests a potential upside of 110.51% from the company’s current price.

TRVI has been the subject of a number of other reports. D. Boral Capital reissued a “buy” rating and issued a $21.00 price objective on shares of Trevi Therapeutics in a research report on Friday. Needham & Company LLC increased their price target on Trevi Therapeutics from $8.00 to $25.00 and gave the company a “buy” rating in a report on Monday. Finally, Raymond James upgraded Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the stock from $9.00 to $29.00 in a report on Monday. Seven investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $14.56.

Trevi Therapeutics Stock Up 38.1 %

Shares of TRVI traded up $1.64 during mid-day trading on Monday, reaching $5.94. 51,837,114 shares of the stock traded hands, compared to its average volume of 1,856,964. The stock has a fifty day simple moving average of $4.14 and a 200 day simple moving average of $3.51. Trevi Therapeutics has a 12-month low of $2.30 and a 12-month high of $7.39. The firm has a market cap of $456.43 million, a price-to-earnings ratio of -13.50 and a beta of 0.90.

Hedge Funds Weigh In On Trevi Therapeutics

Several hedge funds have recently modified their holdings of the company. Frazier Life Sciences Management L.P. lifted its holdings in shares of Trevi Therapeutics by 44.5% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 10,664,774 shares of the company’s stock valued at $43,939,000 after purchasing an additional 3,283,684 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in Trevi Therapeutics in the 4th quarter worth about $17,099,000. Vivo Capital LLC boosted its position in Trevi Therapeutics by 116.3% during the 4th quarter. Vivo Capital LLC now owns 3,487,903 shares of the company’s stock worth $14,370,000 after acquiring an additional 1,875,000 shares during the period. Woodline Partners LP grew its stake in Trevi Therapeutics by 429.9% during the 4th quarter. Woodline Partners LP now owns 3,212,597 shares of the company’s stock valued at $13,236,000 after acquiring an additional 2,606,370 shares in the last quarter. Finally, MPM Bioimpact LLC increased its holdings in shares of Trevi Therapeutics by 101.2% in the 4th quarter. MPM Bioimpact LLC now owns 3,094,896 shares of the company’s stock valued at $12,751,000 after purchasing an additional 1,556,379 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.