Trevi Therapeutics (NASDAQ:TRVI) Upgraded at Raymond James

Raymond James upgraded shares of Trevi Therapeutics (NASDAQ:TRVI) from an outperform rating to a strong-buy rating in a report published on Monday morning, MarketBeat.com reports. Raymond James currently has $29.00 price objective on the stock, up from their previous price objective of $9.00.

A number of other equities research analysts also recently commented on the company. D. Boral Capital reaffirmed a “buy” rating and set a $21.00 target price on shares of Trevi Therapeutics in a report on Friday, March 7th. HC Wainwright lifted their target price on Trevi Therapeutics from $6.00 to $7.50 and gave the stock a “buy” rating in a report on Thursday, December 12th. Finally, Needham & Company LLC lifted their target price on Trevi Therapeutics from $8.00 to $25.00 and gave the stock a “buy” rating in a report on Monday. Seven investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $15.94.

Trevi Therapeutics Stock Performance

Shares of NASDAQ TRVI opened at $6.30 on Monday. The company has a market cap of $484.26 million, a PE ratio of -14.32 and a beta of 0.90. The business has a 50-day simple moving average of $4.26 and a two-hundred day simple moving average of $3.58. Trevi Therapeutics has a fifty-two week low of $2.30 and a fifty-two week high of $7.39.

Insider Buying and Selling at Trevi Therapeutics

In other Trevi Therapeutics news, insider Farrell Simon sold 81,313 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $6.75, for a total value of $548,862.75. Following the completion of the transaction, the insider now directly owns 76,900 shares of the company’s stock, valued at approximately $519,075. The trade was a 51.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 24.37% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Summit Investment Advisors Inc. lifted its holdings in Trevi Therapeutics by 84.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 6,332 shares of the company’s stock valued at $26,000 after acquiring an additional 2,894 shares during the period. Bank of New York Mellon Corp increased its position in shares of Trevi Therapeutics by 2.1% in the fourth 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 in the last quarter. SG Americas Securities LLC increased its position in shares of Trevi Therapeutics by 14.5% in the fourth quarter. SG Americas Securities LLC now owns 26,792 shares of the company’s stock valued at $110,000 after buying an additional 3,387 shares in the last quarter. Invesco Ltd. increased its position in shares of Trevi Therapeutics by 21.2% in the fourth quarter. Invesco Ltd. now owns 23,621 shares of the company’s stock valued at $97,000 after buying an additional 4,133 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Trevi Therapeutics by 32.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,166 shares of the company’s stock valued at $104,000 after buying an additional 6,119 shares in the last quarter. 95.76% of the stock is owned by institutional investors and hedge funds.

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.