Trevi Therapeutics (NASDAQ:TRVI) Given Buy Rating at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Trevi Therapeutics (NASDAQ:TRVI) in a research report report published on Friday,Benzinga reports. Needham & Company LLC currently has a $8.00 price target on the stock.

Other equities analysts have also issued research reports about the stock. Leerink Partners assumed coverage on shares of Trevi Therapeutics in a research report on Monday, September 9th. They set an “outperform” rating and a $7.00 target price for the company. Raymond James started coverage on Trevi Therapeutics in a research report on Friday, August 30th. They set an “outperform” rating and a $9.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Trevi Therapeutics in a research note on Tuesday, October 22nd. Leerink Partnrs upgraded Trevi Therapeutics to a “strong-buy” rating in a research report on Monday, September 9th. Finally, EF Hutton Acquisition Co. I raised shares of Trevi Therapeutics to a “strong-buy” rating in a report on Monday, August 19th. Seven equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $7.43.

Trevi Therapeutics Price Performance

Shares of NASDAQ:TRVI traded up $0.01 during mid-day trading on Friday, reaching $2.91. 601,058 shares of the company traded hands, compared to its average volume of 285,322. Trevi Therapeutics has a 52 week low of $0.97 and a 52 week high of $4.00. The firm has a market cap of $211.24 million, a PE ratio of -6.61 and a beta of 1.01. The company’s 50 day moving average price is $3.15 and its 200-day moving average price is $2.91.

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

Insiders Place Their Bets

In other news, CEO Jennifer L. Good sold 10,981 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $3.02, for a total transaction of $33,162.62. Following the transaction, the chief executive officer now owns 213,313 shares of the company’s stock, valued at approximately $644,205.26. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Thomas Sciascia sold 18,660 shares of Trevi Therapeutics stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $2.76, for a total transaction of $51,501.60. Following the completion of the sale, the insider now owns 220,315 shares of the company’s stock, valued at approximately $608,069.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jennifer L. Good sold 10,981 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $3.02, for a total value of $33,162.62. Following the completion of the sale, the chief executive officer now owns 213,313 shares of the company’s stock, valued at $644,205.26. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 40,355 shares of company stock valued at $116,663 over the last 90 days. Insiders own 24.37% of the company’s stock.

Institutional Investors Weigh In On Trevi Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD purchased a new position in shares of Trevi Therapeutics during the first quarter valued at $47,000. Hsbc Holdings PLC bought a new position in Trevi Therapeutics during the 2nd quarter worth about $61,000. Intech Investment Management LLC purchased a new position in Trevi Therapeutics during the 3rd quarter valued at about $63,000. The Manufacturers Life Insurance Company raised its holdings in shares of Trevi Therapeutics by 87.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,524 shares of the company’s stock valued at $73,000 after purchasing an additional 11,450 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Trevi Therapeutics in the 3rd quarter worth approximately $78,000. 95.76% of the stock is owned by 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.