Needham & Company LLC Issues Pessimistic Forecast for Trevi Therapeutics (NASDAQ:TRVI) Stock Price

Trevi Therapeutics (NASDAQ:TRVI) had its price target cut by Needham & Company LLC from $25.00 to $24.00 in a report published on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also issued reports on TRVI. Oppenheimer lifted their target price on Trevi Therapeutics from $12.00 to $20.00 and gave the stock an “outperform” rating in a report on Tuesday, March 11th. HC Wainwright lifted their price objective on shares of Trevi Therapeutics from $7.50 to $12.50 and gave the stock a “buy” rating in a research note on Monday, March 10th. D. Boral Capital reissued a “buy” rating and set a $21.00 target price on shares of Trevi Therapeutics in a research note on Friday, March 7th. Finally, Raymond James upgraded shares of Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and raised their target price for the stock from $9.00 to $29.00 in a report on Monday, March 10th. Seven equities research 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, the stock currently has an average rating of “Buy” and a consensus target price of $17.56.

Trevi Therapeutics Price Performance

Trevi Therapeutics stock opened at $6.47 on Wednesday. Trevi Therapeutics has a 12-month low of $2.30 and a 12-month high of $7.39. The stock has a market capitalization of $497.32 million, a PE ratio of -14.70 and a beta of 0.90. The firm has a 50 day simple moving average of $4.60 and a 200-day simple moving average of $3.75.

Trevi Therapeutics (NASDAQ:TRVI) last issued its quarterly earnings results on Tuesday, March 18th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.01. On average, analysts forecast that Trevi Therapeutics will post -0.49 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Trevi Therapeutics news, insider Farrell Simon sold 81,313 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $6.75, for a total value of $548,862.75. Following 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 filing with the Securities & Exchange Commission, which is available through the SEC website. 24.37% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Trevi Therapeutics

A number of hedge funds have recently modified their holdings of the stock. Summit Investment Advisors Inc. grew its stake 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 purchasing an additional 2,894 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings 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 valued at $40,000 after buying an additional 6,764 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Trevi Therapeutics during the 4th quarter valued at about $49,000. Squarepoint Ops LLC bought a new stake in shares of Trevi Therapeutics in the 4th quarter valued at approximately $58,000. Finally, Intech Investment Management LLC acquired a new position in Trevi Therapeutics in the third quarter worth approximately $63,000. 95.76% of the stock is owned by institutional investors and hedge funds.

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.