Trevi Therapeutics (NASDAQ:TRVI) Shares Up 5.7% – Should You Buy?

Trevi Therapeutics, Inc. (NASDAQ:TRVI)’s share price traded up 5.7% during mid-day trading on Tuesday . The company traded as high as $6.78 and last traded at $6.77. 117,424 shares changed hands during trading, a decline of 88% from the average session volume of 994,539 shares. The stock had previously closed at $6.40.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TRVI. Needham & Company LLC reduced their price target on shares of Trevi Therapeutics from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Wednesday, March 19th. Raymond James raised Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and boosted their price target for the stock from $9.00 to $29.00 in a research report on Monday, March 10th. HC Wainwright restated a “buy” rating and set a $12.50 price target on shares of Trevi Therapeutics in a report on Wednesday, March 19th. Oppenheimer upped their price target on shares of Trevi Therapeutics from $12.00 to $20.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 11th. Finally, B. Riley reissued a “buy” rating and set a $20.00 price objective (up from $11.00) on shares of Trevi Therapeutics in a research report on Wednesday, March 19th. Seven investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $17.56.

Trevi Therapeutics Stock Performance

The stock has a 50-day simple moving average of $4.65 and a two-hundred day simple moving average of $3.78. The firm has a market cap of $644.87 million, a PE ratio of -15.16 and a beta of 0.90.

Trevi Therapeutics (NASDAQ:TRVI) last issued its quarterly earnings data on Tuesday, March 18th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.01. As a group, sell-side analysts anticipate that Trevi Therapeutics, Inc. will post -0.49 EPS for the current fiscal year.

Insider Activity

In other Trevi Therapeutics news, insider Farrell Simon sold 81,313 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $6.75, for a total transaction of $548,862.75. Following the completion of the sale, the insider now directly owns 76,900 shares of the company’s stock, valued at $519,075. This trade represents a 51.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 24.37% of the company’s stock.

Hedge Funds Weigh In On Trevi Therapeutics

Several institutional investors have recently bought and sold shares of TRVI. Point72 Asset Management L.P. bought a new stake in Trevi Therapeutics in the 4th quarter worth approximately $17,099,000. Frazier Life Sciences Management L.P. increased its position in Trevi Therapeutics by 44.5% in the fourth 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. Woodline Partners LP raised its stake in Trevi Therapeutics by 429.9% during the fourth quarter. Woodline Partners LP now owns 3,212,597 shares of the company’s stock valued at $13,236,000 after purchasing an additional 2,606,370 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new position in Trevi Therapeutics during the fourth quarter valued at $10,300,000. Finally, Acorn Capital Advisors LLC purchased a new position in shares of Trevi Therapeutics in the 4th quarter worth $8,244,000. 95.76% of the stock is owned by hedge funds and other 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.