Trevi Therapeutics (NASDAQ:TRVI) Price Target Raised to $12.50

Trevi Therapeutics (NASDAQ:TRVI) had its price objective raised by HC Wainwright from $7.50 to $12.50 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s target price would indicate a potential upside of 110.51% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Needham & Company LLC boosted their target price on shares of Trevi Therapeutics from $8.00 to $25.00 and gave the company a “buy” rating in a research note on Monday. Raymond James raised Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and increased their target price for the company from $9.00 to $29.00 in a report on Monday. Finally, D. Boral Capital reaffirmed a “buy” rating and issued a $21.00 price target on shares of Trevi Therapeutics in a research note on Friday. Seven research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $14.56.

Trevi Therapeutics Stock Performance

TRVI traded up $1.64 on Monday, hitting $5.94. The company had a trading volume of 51,837,114 shares, compared to its average volume of 1,856,964. The stock has a fifty day moving average price of $4.14 and a 200-day moving average price of $3.51. Trevi Therapeutics has a 12-month low of $2.30 and a 12-month high of $7.39. The stock has a market capitalization 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

A number of institutional investors and hedge funds have recently made changes to their positions in TRVI. Frazier Life Sciences Management L.P. boosted its holdings in Trevi Therapeutics by 44.5% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 10,664,774 shares of the company’s stock worth $43,939,000 after buying an additional 3,283,684 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Trevi Therapeutics in the 4th quarter worth approximately $17,099,000. Vivo Capital LLC increased its stake in Trevi Therapeutics by 116.3% in the 4th quarter. Vivo Capital LLC now owns 3,487,903 shares of the company’s stock valued at $14,370,000 after purchasing an additional 1,875,000 shares in the last quarter. Woodline Partners LP raised its holdings in Trevi Therapeutics by 429.9% during the fourth quarter. Woodline Partners LP now owns 3,212,597 shares of the company’s stock worth $13,236,000 after purchasing an additional 2,606,370 shares during the last quarter. Finally, MPM Bioimpact LLC grew its holdings in Trevi Therapeutics by 101.2% in the fourth 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 last quarter. 95.76% of the stock is owned by institutional investors and hedge funds.

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.