Trevi Therapeutics (NASDAQ:TRVI) Shares Up 5.7% – Time to Buy?

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. D. Boral Capital reissued a “buy” rating and issued a $21.00 price objective on shares of Trevi Therapeutics in a research note on Wednesday, March 19th. Raymond James raised shares of Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and raised their price target for the stock from $9.00 to $29.00 in a research note on Monday, March 10th. HC Wainwright reaffirmed a “buy” rating and set a $12.50 price objective on shares of Trevi Therapeutics in a research note on Wednesday, March 19th. Oppenheimer raised their target price 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, Needham & Company LLC dropped their price target on Trevi Therapeutics from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Wednesday, March 19th. Seven research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, Trevi Therapeutics presently has a consensus rating of “Buy” and an average price target of $17.56.

Trevi Therapeutics Trading Down 2.1 %

The company’s fifty day moving average is $4.76 and its two-hundred day moving average is $3.83. The stock has a market cap of $625.53 million, a price-to-earnings ratio of -14.70 and a beta of 0.90.

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

Insider Activity at Trevi Therapeutics

In other news, insider Farrell Simon sold 81,313 shares of Trevi Therapeutics stock in a transaction dated Monday, March 10th. The stock was 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 trade represents a 51.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jennifer L. Good sold 5,263 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $6.58, for a total transaction of $34,630.54. Following the completion of the sale, the chief executive officer now directly owns 213,313 shares in the company, valued at approximately $1,403,599.54. This trade represents a 2.41 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 24.37% of the company’s stock.

Institutional Investors Weigh In On Trevi Therapeutics

Large investors have recently modified their holdings of the company. Summit Investment Advisors Inc. increased its holdings in Trevi Therapeutics by 84.2% in the fourth 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 during the last quarter. BNP Paribas Financial Markets boosted its position in shares of 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 in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Trevi Therapeutics in the 4th quarter valued at about $49,000. Squarepoint Ops LLC acquired a new stake in shares of Trevi Therapeutics during the 4th quarter worth about $58,000. Finally, Intech Investment Management LLC purchased a new stake in Trevi Therapeutics during the third quarter worth approximately $63,000. 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.