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

Trevi Therapeutics (NASDAQ:TRVI)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $8.00 target price on the stock. Needham & Company LLC’s target price suggests a potential upside of 207.69% from the company’s current price.

TRVI has been the topic of a number of other research reports. Leerink Partnrs raised shares of Trevi Therapeutics to a “strong-buy” rating in a report on Monday, September 9th. D. Boral Capital reiterated a “buy” rating and set a $21.00 price objective on shares of Trevi Therapeutics in a research note on Wednesday. B. Riley restated a “buy” rating and issued a $6.00 target price on shares of Trevi Therapeutics in a research note on Monday, October 7th. EF Hutton Acquisition Co. I upgraded Trevi Therapeutics to a “strong-buy” rating in a research report on Monday, August 19th. Finally, Raymond James assumed coverage on shares of Trevi Therapeutics in a report on Friday, August 30th. They issued an “outperform” rating and a $9.00 price target on the stock. Eight 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 has an average rating of “Buy” and a consensus price target of $9.13.

Trevi Therapeutics Stock Performance

TRVI stock opened at $2.60 on Wednesday. The stock has a fifty day moving average of $3.00 and a 200-day moving average of $2.91. Trevi Therapeutics has a fifty-two week low of $1.03 and a fifty-two week high of $4.00. The company has a market capitalization of $199.85 million, a price-to-earnings ratio of -5.91 and a beta of 0.96.

Trevi Therapeutics (NASDAQ:TRVI) last posted its earnings results on Wednesday, November 6th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.01). During the same period in the previous year, the firm posted ($0.08) EPS. Equities analysts predict that Trevi Therapeutics will post -0.49 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in Trevi Therapeutics by 2.7% during the first quarter. Vanguard Group Inc. now owns 2,303,648 shares of the company’s stock valued at $7,948,000 after purchasing an additional 60,249 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new position in shares of Trevi Therapeutics during the 1st quarter valued at about $47,000. Rosalind Advisors Inc. raised its holdings in shares of Trevi Therapeutics by 50.3% during the 2nd quarter. Rosalind Advisors Inc. now owns 1,391,577 shares of the company’s stock valued at $4,147,000 after buying an additional 465,561 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Trevi Therapeutics by 38.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 178,511 shares of the company’s stock worth $532,000 after buying an additional 49,884 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in Trevi Therapeutics by 44.8% in the 2nd quarter. Rhumbline Advisers now owns 75,218 shares of the company’s stock worth $224,000 after buying an additional 23,263 shares during 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.