Trevi Therapeutics (NASDAQ:TRVI) Given “Buy” Rating at Needham & Company LLC

Trevi Therapeutics (NASDAQ:TRVI)‘s stock had its “buy” rating reissued by Needham & Company LLC in a report issued on Friday, Benzinga reports. They currently have a $8.00 target price on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 164.90% from the company’s previous close.

Other equities analysts have also issued research reports about the company. HC Wainwright started coverage on Trevi Therapeutics in a report on Friday, August 30th. They issued a “buy” rating and a $6.00 target price on the stock. Raymond James started coverage on Trevi Therapeutics in a report on Friday, August 30th. They issued an “outperform” rating and a $9.00 price target for the company. Rodman & Renshaw initiated coverage on shares of Trevi Therapeutics in a report on Thursday, June 13th. They set a “buy” rating and a $7.00 price objective on the stock. Leerink Partners assumed coverage on shares of Trevi Therapeutics in a report on Monday, September 9th. They issued an “outperform” rating and a $7.00 target price for the company. Finally, Leerink Partnrs upgraded shares of Trevi Therapeutics to a “strong-buy” rating in a research note on Monday, September 9th. Six analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $7.67.

Trevi Therapeutics Price Performance

NASDAQ:TRVI remained flat at $3.02 during midday trading on Friday. The company had a trading volume of 236,359 shares, compared to its average volume of 258,770. Trevi Therapeutics has a 52-week low of $0.97 and a 52-week high of $4.00. The firm has a market cap of $212.71 million, a price-to-earnings ratio of -8.88 and a beta of 0.97. The business’s 50-day simple moving average is $3.05 and its two-hundred day simple moving average is $2.92.

Trevi Therapeutics (NASDAQ:TRVI) last issued its earnings results on Thursday, August 8th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.01). During the same quarter in the previous year, the business earned ($0.07) EPS. As a group, equities research analysts predict that Trevi Therapeutics will post -0.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Trading of Trevi Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new stake in shares of Trevi Therapeutics during the 3rd quarter worth approximately $78,000. The Manufacturers Life Insurance Company boosted its position in Trevi Therapeutics by 87.6% during the second quarter. The Manufacturers Life Insurance Company now owns 24,524 shares of the company’s stock worth $73,000 after purchasing an additional 11,450 shares in the last quarter. Logos Global Management LP grew its holdings in Trevi Therapeutics by 27.3% in the second quarter. Logos Global Management LP now owns 2,800,000 shares of the company’s stock valued at $8,344,000 after purchasing an additional 600,000 shares during the last quarter. Ally Bridge Group NY LLC acquired a new position in shares of Trevi Therapeutics during the 2nd quarter worth $4,395,000. Finally, Hsbc Holdings PLC acquired a new stake in Trevi Therapeutics in the 2nd quarter valued at about $61,000. 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.