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

Trevi Therapeutics (NASDAQ:TRVI)‘s stock had its “buy” rating reissued by analysts at Needham & Company LLC in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $8.00 price objective on the stock. Needham & Company LLC’s price target suggests a potential upside of 175.86% from the company’s previous close.

TRVI has been the topic of a number of other reports. EF Hutton Acquisition Co. I upgraded shares of Trevi Therapeutics to a “strong-buy” rating in a research note on Monday, August 19th. HC Wainwright reiterated a “buy” rating and set a $6.00 price objective on shares of Trevi Therapeutics in a research note on Tuesday, October 22nd. Leerink Partners began coverage on shares of Trevi Therapeutics in a research note on Monday, September 9th. They issued an “outperform” rating and a $7.00 target price for the company. Leerink Partnrs upgraded shares of Trevi Therapeutics to a “strong-buy” rating in a research note on Monday, September 9th. Finally, Raymond James began coverage on shares of Trevi Therapeutics in a report on Friday, August 30th. They issued an “outperform” rating and a $9.00 price target for the company. Seven research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Trevi Therapeutics currently has an average rating of “Buy” and a consensus price target of $7.43.

Trevi Therapeutics Stock Performance

Shares of Trevi Therapeutics stock opened at $2.90 on Friday. The company has a fifty day moving average of $3.15 and a 200 day moving average of $2.91. The company has a market capitalization of $210.51 million, a P/E ratio of -6.59 and a beta of 1.01. Trevi Therapeutics has a fifty-two week low of $0.97 and a fifty-two week high of $4.00.

Trevi Therapeutics (NASDAQ:TRVI) last issued its earnings results on Thursday, August 8th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.01). During the same period last year, the company posted ($0.07) EPS. Analysts forecast that Trevi Therapeutics will post -0.47 EPS for the current year.

Insiders Place Their Bets

In other news, insider Thomas Sciascia sold 18,660 shares of Trevi Therapeutics stock in a transaction dated Friday, August 16th. The shares were 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 directly owns 220,315 shares in the company, valued at $608,069.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related 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 sale, the insider now directly owns 220,315 shares of the company’s stock, valued at approximately $608,069.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jennifer L. Good sold 10,981 shares of the 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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 40,355 shares of company stock worth $116,663. Insiders own 24.37% of the company’s stock.

Institutional Trading of Trevi Therapeutics

Several institutional investors have recently modified their holdings of TRVI. American Century Companies Inc. raised its position in shares of Trevi Therapeutics by 17.1% during the second quarter. American Century Companies Inc. now owns 54,108 shares of the company’s stock worth $161,000 after acquiring an additional 7,902 shares during the last quarter. MAI Capital Management boosted its position in Trevi Therapeutics by 0.7% during the third quarter. MAI Capital Management now owns 1,327,285 shares of the company’s stock valued at $4,433,000 after purchasing an additional 8,789 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Trevi Therapeutics by 87.6% in the second quarter. The Manufacturers Life Insurance Company now owns 24,524 shares of the company’s stock valued at $73,000 after buying an additional 11,450 shares during the last quarter. Price T Rowe Associates Inc. MD acquired a new stake in Trevi Therapeutics during the 1st quarter worth approximately $47,000. Finally, Hsbc Holdings PLC acquired a new stake in Trevi Therapeutics during the 2nd quarter worth approximately $61,000. Institutional investors and hedge funds 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.