Needham & Company LLC Reaffirms “Buy” Rating for Trevi Therapeutics (NASDAQ:TRVI)

Trevi Therapeutics (NASDAQ:TRVI)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a report issued on Wednesday,Benzinga reports. They currently have a $8.00 price objective on the stock. Needham & Company LLC’s price objective points to a potential upside of 187.77% from the stock’s current price.

Several other research analysts have also weighed in on TRVI. HC Wainwright reissued a “buy” rating and issued a $6.00 price objective on shares of Trevi Therapeutics in a research report on Tuesday, October 22nd. Leerink Partnrs upgraded Trevi Therapeutics to a “strong-buy” rating in a report on Monday, September 9th. Raymond James initiated coverage on Trevi Therapeutics in a research note on Friday, August 30th. They issued an “outperform” rating and a $9.00 price target on the stock. D. Boral Capital reaffirmed a “buy” rating and set a $21.00 price objective on shares of Trevi Therapeutics in a research report on Wednesday. Finally, B. Riley reiterated a “buy” rating and issued a $6.00 price objective on shares of Trevi Therapeutics in a research note on Monday, October 7th. Eight analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Trevi Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $9.13.

Trevi Therapeutics Trading Down 2.8 %

Shares of TRVI stock opened at $2.78 on Wednesday. Trevi Therapeutics has a 1-year low of $1.00 and a 1-year high of $4.00. The stock has a market cap of $213.70 million, a price-to-earnings ratio of -6.32 and a beta of 0.96. The stock has a 50-day moving average of $3.02 and a 200-day moving average of $2.91.

Trevi Therapeutics (NASDAQ:TRVI) last released its earnings results on Wednesday, November 6th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). During the same quarter last year, the business earned ($0.08) EPS. Sell-side analysts forecast that Trevi Therapeutics will post -0.49 earnings per share for the current year.

Institutional Trading of Trevi Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets raised its position in Trevi Therapeutics by 130.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,930 shares of the company’s stock valued at $40,000 after buying an additional 6,764 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new position in shares of Trevi Therapeutics during the 1st quarter valued at approximately $47,000. Intech Investment Management LLC purchased a new stake in shares of Trevi Therapeutics during the 3rd quarter worth approximately $63,000. Hsbc Holdings PLC purchased a new stake in shares of Trevi Therapeutics during the 2nd quarter worth approximately $61,000. Finally, SG Americas Securities LLC bought a new stake in shares of Trevi Therapeutics in the 3rd quarter worth approximately $78,000. 95.76% of the stock is owned by hedge funds and other institutional investors.

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.