Trevi Therapeutics (NASDAQ:TRVI) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Trevi Therapeutics (NASDAQ:TRVI) in a report released on Tuesday morning, Benzinga reports. They currently have a $8.00 price objective on the stock.

Separately, Oppenheimer reissued an outperform rating and issued a $9.00 price target on shares of Trevi Therapeutics in a research report on Thursday, March 21st.

Trevi Therapeutics Stock Performance

Shares of TRVI stock opened at $2.92 on Tuesday. The firm has a market cap of $201.36 million, a price-to-earnings ratio of -10.07 and a beta of 0.86. Trevi Therapeutics has a 52 week low of $0.97 and a 52 week high of $4.00. The firm’s 50-day simple moving average is $2.82 and its two-hundred day simple moving average is $1.96.

Trevi Therapeutics (NASDAQ:TRVI) last announced its quarterly earnings data on Wednesday, March 20th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.02. Analysts forecast that Trevi Therapeutics will post -0.39 earnings per share for the current year.

Institutional Trading of Trevi Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its stake in Trevi Therapeutics by 2,617.3% during the second quarter. BlackRock Inc. now owns 2,234,861 shares of the company’s stock valued at $5,341,000 after acquiring an additional 2,152,616 shares in the last quarter. Vanguard Group Inc. grew its stake in Trevi Therapeutics by 459.0% during the third quarter. Vanguard Group Inc. now owns 1,324,377 shares of the company’s stock valued at $2,040,000 after acquiring an additional 1,087,437 shares in the last quarter. Opaleye Management Inc. grew its stake in Trevi Therapeutics by 48.6% during the fourth quarter. Opaleye Management Inc. now owns 2,535,000 shares of the company’s stock valued at $3,397,000 after acquiring an additional 829,100 shares in the last quarter. State Street Corp grew its stake in Trevi Therapeutics by 583.7% during the second quarter. State Street Corp now owns 680,593 shares of the company’s stock valued at $1,627,000 after acquiring an additional 581,051 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Trevi Therapeutics by 213.7% during the second quarter. Geode Capital Management LLC now owns 778,821 shares of the company’s stock valued at $1,861,000 after acquiring an additional 530,528 shares in the last quarter. 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.