Trevi Therapeutics (NASDAQ:TRVI) Reaches New 12-Month High After Analyst Upgrade

Shares of Trevi Therapeutics, Inc. (NASDAQ:TRVI) reached a new 52-week high on Monday after Raymond James upgraded the stock from an outperform rating to a strong-buy rating. Raymond James now has a $29.00 price target on the stock, up from their previous price target of $9.00. Trevi Therapeutics traded as high as $7.39 and last traded at $6.49, with a volume of 25775634 shares traded. The stock had previously closed at $4.30.

A number of other brokerages have also recently issued reports on TRVI. D. Boral Capital restated a “buy” rating and set a $21.00 target price on shares of Trevi Therapeutics in a report on Friday. HC Wainwright increased their target price on shares of Trevi Therapeutics from $6.00 to $7.50 and gave the stock a “buy” rating in a report on Thursday, December 12th. Finally, Needham & Company LLC boosted their price target on shares of Trevi Therapeutics from $8.00 to $25.00 and gave the company a “buy” rating in a report on Monday. Seven equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $13.94.

Institutional Trading of Trevi Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. GSA Capital Partners LLP bought a new position in shares of Trevi Therapeutics during the third quarter worth about $409,000. Oppenheimer & Co. Inc. lifted its stake in Trevi Therapeutics by 34.7% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 81,947 shares of the company’s stock valued at $274,000 after acquiring an additional 21,128 shares in the last quarter. MAI Capital Management boosted its position in Trevi Therapeutics by 0.7% during the 3rd quarter. MAI Capital Management now owns 1,327,285 shares of the company’s stock worth $4,433,000 after acquiring an additional 8,789 shares during the last quarter. Intech Investment Management LLC bought a new position in shares of Trevi Therapeutics during the 3rd quarter worth approximately $63,000. Finally, BNP Paribas Financial Markets lifted its position in shares of Trevi Therapeutics by 130.9% in the third quarter. BNP Paribas Financial Markets now owns 11,930 shares of the company’s stock worth $40,000 after purchasing an additional 6,764 shares in the last quarter. Institutional investors and hedge funds own 95.76% of the company’s stock.

Trevi Therapeutics Stock Up 51.4 %

The firm has a market cap of $500.32 million, a price-to-earnings ratio of -15.37 and a beta of 0.90. The company’s fifty day moving average is $4.14 and its 200 day moving average is $3.51.

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.