Leerink Partners Begins Coverage on Trevi Therapeutics (NASDAQ:TRVI)

Leerink Partners began coverage on shares of Trevi Therapeutics (NASDAQ:TRVI) in a report issued on Monday, MarketBeat Ratings reports. The firm issued an outperform rating and a $7.00 price target on the stock.

Other research analysts have also recently issued research reports about the company. HC Wainwright assumed coverage on Trevi Therapeutics in a research note on Friday, August 30th. They set a buy rating and a $6.00 price objective on the stock. Raymond James started coverage on Trevi Therapeutics in a report on Friday, August 30th. They issued an outperform rating and a $9.00 price target for the company. EF Hutton Acquisition Co. I upgraded shares of Trevi Therapeutics to a strong-buy rating in a research note on Monday, August 19th. Finally, Rodman & Renshaw initiated coverage on shares of Trevi Therapeutics in a research note on Thursday, June 13th. They issued a buy rating and a $7.00 target price for the company. Six research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Trevi Therapeutics currently has an average rating of Buy and an average target price of $7.67.

Trevi Therapeutics Stock Performance

Shares of NASDAQ:TRVI opened at $3.30 on Monday. The stock has a 50-day simple moving average of $2.89 and a 200-day simple moving average of $2.88. The stock has a market capitalization of $239.55 million, a P/E ratio of -9.71 and a beta of 0.96. Trevi Therapeutics has a 1 year low of $0.97 and a 1 year high of $4.00.

Trevi Therapeutics (NASDAQ:TRVI) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.01). During the same quarter in the previous year, the business earned ($0.07) EPS. Analysts predict that Trevi Therapeutics will post -0.47 earnings per share for the current year.

Insider Transactions at Trevi Therapeutics

In other news, insider Thomas Sciascia sold 18,660 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $2.76, for a total transaction of $51,501.60. Following the transaction, the insider now owns 220,315 shares of the company’s stock, valued at $608,069.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Trevi Therapeutics news, CEO Jennifer L. Good sold 10,981 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $3.02, for a total transaction of $33,162.62. Following the completion of the sale, the chief executive officer now owns 213,313 shares in the company, valued at $644,205.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Thomas Sciascia sold 18,660 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $2.76, for a total transaction of $51,501.60. Following the completion of the transaction, the insider now owns 220,315 shares in the company, valued at $608,069.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 40,355 shares of company stock valued at $116,663. 24.37% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Trevi Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of TRVI. The Manufacturers Life Insurance Company boosted its stake in Trevi Therapeutics by 87.6% in the second quarter. The Manufacturers Life Insurance Company now owns 24,524 shares of the company’s stock valued at $73,000 after acquiring an additional 11,450 shares during the period. Logos Global Management LP boosted its position in Trevi Therapeutics by 27.3% during the 2nd quarter. Logos Global Management LP now owns 2,800,000 shares of the company’s stock valued at $8,344,000 after purchasing an additional 600,000 shares during the period. Ally Bridge Group NY LLC acquired a new position in Trevi Therapeutics during the 2nd quarter valued at approximately $4,395,000. Hsbc Holdings PLC bought a new position in Trevi Therapeutics during the 2nd quarter worth $61,000. Finally, Dimensional Fund Advisors LP increased its position in Trevi Therapeutics by 217.6% in the second quarter. Dimensional Fund Advisors LP now owns 72,210 shares of the company’s stock worth $215,000 after buying an additional 49,475 shares during the period. Institutional investors and hedge funds own 95.76% of the company’s stock.

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.