Trevi Therapeutics (NASDAQ:TRVI) Shares Up 4.4% After Earnings Beat

Trevi Therapeutics, Inc. (NASDAQ:TRVI)’s share price rose 4.4% on Tuesday following a better than expected earnings announcement. The company traded as high as $6.80 and last traded at $6.83. Approximately 486,472 shares were traded during trading, a decline of 49% from the average daily volume of 961,566 shares. The stock had previously closed at $6.54.

The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.01.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on TRVI shares. B. Riley reaffirmed a “buy” rating and set a $20.00 price objective (up from $11.00) on shares of Trevi Therapeutics in a research report on Wednesday. D. Boral Capital reaffirmed a “buy” rating and issued a $21.00 price objective on shares of Trevi Therapeutics in a research note on Wednesday. Oppenheimer raised their price objective on Trevi Therapeutics from $12.00 to $20.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 11th. Raymond James upgraded Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from $9.00 to $29.00 in a research report on Monday, March 10th. Finally, Needham & Company LLC cut their target price on Trevi Therapeutics from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Wednesday. Seven 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, Trevi Therapeutics has an average rating of “Buy” and a consensus price target of $17.56.

Insider Transactions at Trevi Therapeutics

In related news, insider Farrell Simon sold 81,313 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $6.75, for a total transaction of $548,862.75. Following the completion of the sale, the insider now directly owns 76,900 shares of the company’s stock, valued at approximately $519,075. This trade represents a 51.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 24.37% of the company’s stock.

Institutional Investors Weigh In On Trevi Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Summit Investment Advisors Inc. lifted its stake in shares of Trevi Therapeutics by 84.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,332 shares of the company’s stock worth $26,000 after acquiring an additional 2,894 shares during the last quarter. BNP Paribas Financial Markets raised its position in Trevi Therapeutics by 130.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,930 shares of the company’s stock valued at $40,000 after purchasing an additional 6,764 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Trevi Therapeutics during the 4th quarter valued at $49,000. Squarepoint Ops LLC bought a new stake in Trevi Therapeutics during the 4th quarter valued at $58,000. Finally, Two Sigma Advisers LP bought a new stake in Trevi Therapeutics during the 4th quarter valued at $66,000. 95.76% of the stock is owned by institutional investors.

Trevi Therapeutics Trading Up 3.8 %

The stock has a 50-day simple moving average of $4.50 and a two-hundred day simple moving average of $3.71. The firm has a market capitalization of $523.46 million, a P/E ratio of -15.48 and a beta of 0.90.

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.