Needham & Company LLC Reiterates “Buy” Rating for Trevi Therapeutics (NASDAQ:TRVI)

Trevi Therapeutics (NASDAQ:TRVI)‘s stock had its “buy” rating reiterated by analysts at Needham & Company LLC in a research note issued to investors on Thursday,Benzinga reports. They currently have a $8.00 price objective on the stock. Needham & Company LLC’s price objective points to a potential upside of 91.85% from the company’s previous close.

Several other analysts also recently issued reports on the stock. Raymond James began coverage on shares of Trevi Therapeutics in a report on Friday, August 30th. They issued an “outperform” rating and a $9.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating on shares of Trevi Therapeutics in a report on Wednesday, December 4th. Leerink Partnrs raised shares of Trevi Therapeutics to a “strong-buy” rating in a report on Monday, September 9th. EF Hutton Acquisition Co. I raised shares of Trevi Therapeutics to a “strong-buy” rating in a report on Monday, August 19th. Finally, B. Riley reaffirmed a “buy” rating and issued a $6.00 price target on shares of Trevi Therapeutics in a report on Monday, October 7th. Eight investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $9.31.

Trevi Therapeutics Trading Up 15.8 %

TRVI stock opened at $4.17 on Thursday. The company has a market cap of $320.53 million, a P/E ratio of -9.48 and a beta of 0.96. Trevi Therapeutics has a 52 week low of $1.22 and a 52 week high of $4.60. The company’s 50-day moving average price is $2.97 and its 200 day moving average price is $2.92.

Trevi Therapeutics (NASDAQ:TRVI) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). During the same period in the previous year, the firm earned ($0.08) EPS. On average, equities research analysts expect that Trevi Therapeutics will post -0.49 earnings per share for the current year.

Hedge Funds Weigh In On Trevi Therapeutics

A number of institutional investors have recently modified their holdings of TRVI. BNP Paribas Financial Markets raised 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 valued at $40,000 after buying an additional 6,764 shares during the last quarter. Price T Rowe Associates Inc. MD acquired a new position in Trevi Therapeutics during the first quarter worth approximately $47,000. Hsbc Holdings PLC acquired a new position in Trevi Therapeutics during the second quarter worth approximately $61,000. Intech Investment Management LLC acquired a new position in Trevi Therapeutics during the third quarter worth approximately $63,000. Finally, The Manufacturers Life Insurance Company increased its position in Trevi Therapeutics by 87.6% during the second quarter. The Manufacturers Life Insurance Company now owns 24,524 shares of the company’s stock worth $73,000 after purchasing an additional 11,450 shares during the last quarter. Institutional investors and hedge funds 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.