Trevi Therapeutics’ (TRVI) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Trevi Therapeutics (NASDAQ:TRVI) in a research report released on Tuesday,Benzinga reports. They currently have a $24.00 price target on the stock.

A number of other equities analysts have also recently weighed in on the company. Raymond James raised Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from $9.00 to $29.00 in a report on Monday, March 10th. D. Boral Capital reissued a “buy” rating and set a $21.00 price target on shares of Trevi Therapeutics in a research note on Wednesday, March 19th. Oppenheimer upped their price objective on shares of Trevi Therapeutics from $12.00 to $20.00 and gave the company an “outperform” rating in a research note on Tuesday, March 11th. HC Wainwright reiterated a “buy” rating and issued a $12.50 target price on shares of Trevi Therapeutics in a research report on Wednesday, March 19th. Finally, B. Riley reissued a “buy” rating and issued a $20.00 price target (up from $11.00) on shares of Trevi Therapeutics in a research note on Wednesday, March 19th. Seven investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $17.56.

Trevi Therapeutics Price Performance

Shares of Trevi Therapeutics stock opened at $5.28 on Tuesday. Trevi Therapeutics has a 1 year low of $2.30 and a 1 year high of $7.39. The firm has a market cap of $510.48 million, a PE ratio of -12.00 and a beta of 0.41. The company has a 50 day simple moving average of $5.28 and a two-hundred day simple moving average of $4.05.

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

Insider Buying and Selling at Trevi Therapeutics

In related news, insider Farrell Simon sold 81,313 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $6.75, for a total value of $548,862.75. Following the sale, the insider now directly owns 76,900 shares of the company’s stock, valued at $519,075. This trade represents a 51.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jennifer L. Good sold 5,263 shares of the business’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $6.58, for a total value of $34,630.54. Following the transaction, the chief executive officer now owns 213,313 shares in the company, valued at approximately $1,403,599.54. This represents a 2.41 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 24.37% of the company’s stock.

Institutional Trading of Trevi Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TRVI. JPMorgan Chase & Co. raised its holdings in Trevi Therapeutics by 220.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 100,517 shares of the company’s stock worth $336,000 after purchasing an additional 69,167 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Trevi Therapeutics by 10.2% during the third quarter. Geode Capital Management LLC now owns 1,264,166 shares of the company’s stock valued at $4,223,000 after buying an additional 117,418 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Trevi Therapeutics by 14.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 173,063 shares of the company’s stock worth $713,000 after buying an additional 22,145 shares in the last quarter. Barclays PLC lifted its holdings in Trevi Therapeutics by 180.8% in the third quarter. Barclays PLC now owns 95,232 shares of the company’s stock worth $319,000 after buying an additional 61,317 shares during the period. Finally, State Street Corp boosted its position in Trevi Therapeutics by 5.9% during the 3rd quarter. State Street Corp now owns 952,912 shares of the company’s stock valued at $3,183,000 after acquiring an additional 53,051 shares in the last quarter. Hedge funds and other institutional investors own 95.76% of the company’s stock.

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.