Trevi Therapeutics (NASDAQ:TRVI) Earns “Buy” Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Trevi Therapeutics (NASDAQ:TRVI) in a research note issued to investors on Tuesday morning, Benzinga reports. The brokerage currently has a $6.00 target price on the stock.

TRVI has been the subject of several other research reports. Raymond James started coverage on shares of Trevi Therapeutics in a research report on Friday, August 30th. They set an “outperform” rating and a $9.00 price objective for the company. Leerink Partners assumed coverage on shares of Trevi Therapeutics in a research report on Monday, September 9th. They issued an “outperform” rating and a $7.00 price objective for the company. B. Riley restated a “buy” rating and set a $6.00 target price on shares of Trevi Therapeutics in a research note on Monday, October 7th. Needham & Company LLC restated a “buy” rating and set a $8.00 target price on shares of Trevi Therapeutics in a research note on Friday, October 4th. Finally, Leerink Partnrs upgraded shares of Trevi Therapeutics to a “strong-buy” rating in a research note on Monday, September 9th. Seven research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Trevi Therapeutics has an average rating of “Buy” and a consensus price target of $7.43.

Trevi Therapeutics Stock Down 3.1 %

Shares of TRVI stock opened at $3.11 on Tuesday. The stock has a 50 day moving average of $3.12 and a 200-day moving average of $2.89. The firm has a market cap of $225.75 million, a PE ratio of -7.97 and a beta of 0.97. Trevi Therapeutics has a 12 month low of $0.97 and a 12 month high of $4.00.

Trevi Therapeutics (NASDAQ:TRVI) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.01). During the same quarter in the previous year, the company posted ($0.07) earnings per share. As a group, equities analysts predict that Trevi Therapeutics will post -0.47 EPS for the current fiscal year.

Insider Buying and Selling at Trevi Therapeutics

In related news, insider Thomas Sciascia sold 18,660 shares of Trevi Therapeutics stock in a transaction on Friday, August 16th. The shares were sold at an average price of $2.76, for a total value of $51,501.60. Following the transaction, the insider now directly owns 220,315 shares of the company’s stock, valued at $608,069.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Jennifer L. Good sold 10,981 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $3.02, for a total transaction of $33,162.62. Following the sale, the chief executive officer now owns 213,313 shares in the company, valued at approximately $644,205.26. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Thomas Sciascia sold 18,660 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $2.76, for a total transaction of $51,501.60. Following the completion of the transaction, the insider now owns 220,315 shares in the company, valued at approximately $608,069.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 40,355 shares of company stock worth $116,663 over the last three months. 24.37% of the stock is owned by insiders.

Institutional Investors Weigh In On Trevi Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in TRVI. Price T Rowe Associates Inc. MD purchased a new stake in Trevi Therapeutics in the 1st quarter worth approximately $47,000. Hsbc Holdings PLC bought a new position in shares of Trevi Therapeutics during the 2nd quarter valued at approximately $61,000. The Manufacturers Life Insurance Company boosted its position in shares of Trevi Therapeutics by 87.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,524 shares of the company’s stock valued at $73,000 after acquiring an additional 11,450 shares during the last quarter. SG Americas Securities LLC bought a new stake in Trevi Therapeutics in the third quarter worth $78,000. Finally, American Century Companies Inc. lifted its position in Trevi Therapeutics by 17.1% in the second quarter. American Century Companies Inc. now owns 54,108 shares of the company’s stock worth $161,000 after buying an additional 7,902 shares during the last quarter. Hedge funds and other institutional investors own 95.76% of the company’s stock.

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.