B. Riley Reaffirms “Buy” Rating for Trevi Therapeutics (NASDAQ:TRVI)

Trevi Therapeutics (NASDAQ:TRVI)‘s stock had its “buy” rating reiterated by equities researchers at B. Riley in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $20.00 price target on the stock, up from their prior price target of $11.00. B. Riley’s price objective suggests a potential upside of 199.99% from the stock’s previous close.

Several other equities analysts have also recently commented on the company. Oppenheimer upped their price target on Trevi Therapeutics from $12.00 to $20.00 and gave the company an “outperform” rating in a report on Tuesday, March 11th. HC Wainwright reaffirmed a “buy” rating and issued a $12.50 price target on shares of Trevi Therapeutics in a report on Wednesday. D. Boral Capital reaffirmed a “buy” rating and issued a $21.00 price target on shares of Trevi Therapeutics in a report on Wednesday. Needham & Company LLC cut their price target on Trevi Therapeutics from $25.00 to $24.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Raymond James raised Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and upped their price target for the company from $9.00 to $29.00 in a report on Monday, March 10th. Seven analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $17.56.

Trevi Therapeutics Trading Up 1.6 %

NASDAQ:TRVI traded up $0.11 during mid-day trading on Wednesday, hitting $6.67. 528,663 shares of the company’s stock traded hands, compared to its average volume of 2,002,299. The firm has a 50 day moving average of $4.44 and a two-hundred day moving average of $3.68. Trevi Therapeutics has a 12 month low of $2.30 and a 12 month high of $7.39. The firm has a market capitalization of $512.47 million, a price-to-earnings ratio of -15.15 and a beta of 0.90.

Trevi Therapeutics (NASDAQ:TRVI) last announced its 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. As a group, equities research analysts expect 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 firm’s stock in a transaction 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 transaction, the insider now directly owns 76,900 shares in the company, valued at $519,075. This trade represents a 51.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 24.37% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Frazier Life Sciences Management L.P. boosted its position in shares of Trevi Therapeutics by 44.5% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 10,664,774 shares of the company’s stock worth $43,939,000 after purchasing an additional 3,283,684 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Trevi Therapeutics in the 4th quarter worth $17,099,000. Vivo Capital LLC boosted its position in shares of Trevi Therapeutics by 116.3% in the 4th quarter. Vivo Capital LLC now owns 3,487,903 shares of the company’s stock worth $14,370,000 after purchasing an additional 1,875,000 shares during the last quarter. Woodline Partners LP boosted its position in shares of Trevi Therapeutics by 429.9% in the 4th quarter. Woodline Partners LP now owns 3,212,597 shares of the company’s stock worth $13,236,000 after purchasing an additional 2,606,370 shares during the last quarter. Finally, MPM Bioimpact LLC boosted its position in shares of Trevi Therapeutics by 101.2% in the 4th quarter. MPM Bioimpact LLC now owns 3,094,896 shares of the company’s stock worth $12,751,000 after purchasing an additional 1,556,379 shares during the last quarter. 95.76% of the stock is currently owned by institutional investors.

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.