Trevi Therapeutics (NASDAQ:TRVI) Given “Buy” Rating at B. Riley

B. Riley reiterated their buy rating on shares of Trevi Therapeutics (NASDAQ:TRVI) in a report released on Wednesday,Benzinga reports. The firm currently has a $20.00 price target on the stock, up from their previous price target of $11.00.

Other analysts also recently issued research reports about the stock. Raymond James upgraded shares of Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and raised their price target for the stock from $9.00 to $29.00 in a report on Monday, March 10th. Oppenheimer raised 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. HC Wainwright restated a “buy” rating and set a $12.50 price target on shares of Trevi Therapeutics in a report on Wednesday. D. Boral Capital restated a “buy” rating and set a $21.00 price target on shares of Trevi Therapeutics in a report on Wednesday. Finally, Needham & Company LLC cut their price target on shares of Trevi Therapeutics from $25.00 to $24.00 and set a “buy” rating for the company in a report on Wednesday. Seven analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Trevi Therapeutics has a consensus rating of “Buy” and an average target price of $17.56.

Trevi Therapeutics Trading Up 3.8 %

TRVI stock opened at $6.81 on Wednesday. The company has a market cap of $523.46 million, a price-to-earnings ratio of -15.48 and a beta of 0.90. Trevi Therapeutics has a 12 month low of $2.30 and a 12 month high of $7.39. The firm has a 50-day moving average of $4.50 and a two-hundred day moving average of $3.71.

Trevi Therapeutics (NASDAQ:TRVI) last released its quarterly earnings data on Tuesday, March 18th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.01. As a group, equities analysts forecast that Trevi Therapeutics will post -0.49 earnings per share for the current year.

Insider Buying and Selling

In other Trevi Therapeutics news, insider Farrell Simon sold 81,313 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $6.75, for a total value of $548,862.75. Following the completion of the transaction, 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 sale was disclosed in a filing with the SEC, which is available at this link. 24.37% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Trevi Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Frazier Life Sciences Management L.P. boosted its position in Trevi Therapeutics by 44.5% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 10,664,774 shares of the company’s stock valued at $43,939,000 after buying an additional 3,283,684 shares during the period. Woodline Partners LP boosted its position in Trevi Therapeutics by 429.9% in the 4th quarter. Woodline Partners LP now owns 3,212,597 shares of the company’s stock valued at $13,236,000 after buying an additional 2,606,370 shares during the period. Squarepoint Ops LLC purchased a new position in Trevi Therapeutics in the 4th quarter valued at approximately $58,000. Two Sigma Advisers LP purchased a new stake in shares of Trevi Therapeutics during the 4th quarter worth $66,000. Finally, Two Sigma Investments LP purchased a new stake in shares of Trevi Therapeutics during the 4th quarter worth $560,000. Hedge funds and other 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.