Trevi Therapeutics (NASDAQ:TRVI) Stock Price Up 4.4% on Better-Than-Expected Earnings

Trevi Therapeutics, Inc. (NASDAQ:TRVI)’s share price traded up 4.4% during mid-day trading on Tuesday following a better than expected earnings announcement. The company traded as high as $6.80 and last traded at $6.83. 486,472 shares were traded during mid-day trading, a decline of 49% from the average session volume of 961,566 shares. The stock had previously closed at $6.54.

The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.01.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. D. Boral Capital restated a “buy” rating and issued a $21.00 target price on shares of Trevi Therapeutics in a research note on Wednesday. HC Wainwright reiterated a “buy” rating and issued a $12.50 target price on shares of Trevi Therapeutics in a research report on Wednesday. Oppenheimer boosted 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. Needham & Company LLC reduced their price objective on Trevi Therapeutics from $25.00 to $24.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Raymond James upgraded shares of Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and boosted their target price for the company from $9.00 to $29.00 in a research note on Monday, March 10th. Seven investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $17.56.

Insider Activity

In other Trevi Therapeutics news, insider Farrell Simon sold 81,313 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were 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 owns 76,900 shares in the company, valued at approximately $519,075. This 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.

Hedge Funds Weigh In On Trevi Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in TRVI. Summit Investment Advisors Inc. increased its position in Trevi Therapeutics by 84.2% in the 4th 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. BNP Paribas Financial Markets grew its stake in shares of Trevi Therapeutics by 130.9% in the third quarter. BNP Paribas Financial Markets now owns 11,930 shares of the company’s stock worth $40,000 after purchasing an additional 6,764 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Trevi Therapeutics during the fourth quarter valued at $49,000. Squarepoint Ops LLC bought a new stake in shares of Trevi Therapeutics during the fourth quarter valued at about $58,000. Finally, Intech Investment Management LLC acquired a new stake in Trevi Therapeutics in the third quarter worth about $63,000. 95.76% of the stock is currently owned by institutional investors and hedge funds.

Trevi Therapeutics Trading Down 1.6 %

The stock has a market cap of $514.93 million, a P/E ratio of -15.13 and a beta of 0.90. The stock’s 50-day moving average is $4.50 and its 200-day moving average is $3.71.

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.