Trevi Therapeutics (NASDAQ:TRVI) Price Target Cut to $24.00 by Analysts at Needham & Company LLC

Trevi Therapeutics (NASDAQ:TRVI) had its price objective decreased by investment analysts at Needham & Company LLC from $25.00 to $24.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 265.85% from the stock’s current price.

Several other research analysts also recently commented on TRVI. D. Boral Capital restated a “buy” rating and issued a $21.00 target price on shares of Trevi Therapeutics in a research note on Friday, March 7th. Raymond James raised Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and raised their price target for the company from $9.00 to $29.00 in a report on Monday, March 10th. HC Wainwright raised their price target on Trevi Therapeutics from $7.50 to $12.50 and gave the company a “buy” rating in a report on Monday, March 10th. Finally, Oppenheimer raised 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. Seven analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, Trevi Therapeutics has a consensus rating of “Buy” and an average price target of $15.81.

Trevi Therapeutics Price Performance

Shares of NASDAQ:TRVI opened at $6.56 on Wednesday. The company has a market capitalization of $504.24 million, a PE ratio of -14.91 and a beta of 0.90. The business has a fifty day moving average price of $4.44 and a two-hundred day moving average price of $3.68. Trevi Therapeutics has a 1 year low of $2.30 and a 1 year high of $7.39.

Trevi Therapeutics (NASDAQ:TRVI) last issued its earnings results on Tuesday, March 18th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.01. Sell-side analysts anticipate that Trevi Therapeutics will post -0.49 earnings per share for the current year.

Insider Activity at Trevi Therapeutics

In related news, insider Farrell Simon sold 81,313 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $6.75, for a total transaction of $548,862.75. Following the transaction, the insider now directly owns 76,900 shares of the company’s stock, valued at approximately $519,075. This trade represents a 51.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 24.37% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Trevi Therapeutics

Large investors have recently modified their holdings of the company. Summit Investment Advisors Inc. raised its holdings in shares of Trevi Therapeutics by 84.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,332 shares of the company’s stock valued at $26,000 after buying an additional 2,894 shares in the last quarter. BNP Paribas Financial Markets grew its position in Trevi Therapeutics by 130.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,930 shares of the company’s stock worth $40,000 after acquiring an additional 6,764 shares during the last quarter. Raymond James Financial Inc. bought a new position in Trevi Therapeutics during the 4th quarter worth approximately $49,000. Squarepoint Ops LLC bought a new position in Trevi Therapeutics during the 4th quarter worth approximately $58,000. Finally, Two Sigma Advisers LP bought a new position in Trevi Therapeutics during the 4th quarter worth approximately $66,000. 95.76% of the stock is owned by hedge funds and other institutional investors.

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.