Needham & Company LLC Lowers Trevi Therapeutics (NASDAQ:TRVI) Price Target to $24.00

Trevi Therapeutics (NASDAQ:TRVI) had its price objective dropped by research analysts at Needham & Company LLC from $25.00 to $24.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s target price would suggest a potential upside of 265.85% from the stock’s previous close.

Several other research analysts have also recently weighed in on TRVI. HC Wainwright boosted their price target on Trevi Therapeutics from $7.50 to $12.50 and gave the stock a “buy” rating in a research note 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 report on Friday, March 7th. Oppenheimer upped their price objective on Trevi Therapeutics from $12.00 to $20.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 11th. Finally, Raymond James upgraded Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $9.00 to $29.00 in a research report on Monday, March 10th. Seven research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, Trevi Therapeutics has an average rating of “Buy” and a consensus price target of $15.81.

Trevi Therapeutics Stock Up 0.3 %

NASDAQ TRVI opened at $6.56 on Wednesday. Trevi Therapeutics has a twelve month low of $2.30 and a twelve month high of $7.39. The firm has a market capitalization of $504.24 million, a PE ratio of -14.91 and a beta of 0.90. The stock’s 50 day moving average is $4.44 and its 200 day moving average is $3.68.

Trevi Therapeutics (NASDAQ:TRVI) last released its quarterly earnings results on Tuesday, March 18th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.01. On average, 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 other news, insider Farrell Simon sold 81,313 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $6.75, for a total transaction of $548,862.75. Following the completion of the sale, the insider now owns 76,900 shares in the company, valued at approximately $519,075. This represents a 51.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 24.37% of the company’s stock.

Hedge Funds Weigh In On Trevi Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Summit Investment Advisors Inc. raised its stake in Trevi Therapeutics by 84.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 6,332 shares of the company’s stock worth $26,000 after acquiring an additional 2,894 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Trevi Therapeutics by 2.1% during the 4th quarter. Bank of New York Mellon Corp now owns 140,219 shares of the company’s stock valued at $578,000 after buying an additional 2,935 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Trevi Therapeutics by 14.5% during the 4th quarter. SG Americas Securities LLC now owns 26,792 shares of the company’s stock valued at $110,000 after acquiring an additional 3,387 shares during the period. Invesco Ltd. grew its position in shares of Trevi Therapeutics by 21.2% during the 4th quarter. Invesco Ltd. now owns 23,621 shares of the company’s stock valued at $97,000 after acquiring an additional 4,133 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Trevi Therapeutics by 32.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,166 shares of the company’s stock valued at $104,000 after acquiring an additional 6,119 shares during the period. 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.