Needham & Company LLC Cuts Trevi Therapeutics (NASDAQ:TRVI) Price Target to $24.00

Trevi Therapeutics (NASDAQ:TRVI) had its price objective reduced by Needham & Company LLC from $25.00 to $24.00 in a research note released on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

TRVI has been the subject of several other research reports. HC Wainwright lifted their target price on Trevi Therapeutics from $7.50 to $12.50 and gave the stock a “buy” rating in a research report on Monday, March 10th. Raymond James upgraded Trevi Therapeutics from an “outperform” rating to a “strong-buy” rating and raised their price objective for the stock from $9.00 to $29.00 in a research note on Monday, March 10th. D. Boral Capital reiterated a “buy” rating and set a $21.00 target price on shares of Trevi Therapeutics in a research note on Friday, March 7th. Finally, Oppenheimer raised their price target on shares of Trevi Therapeutics from $12.00 to $20.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 11th. Seven research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $17.56.

Trevi Therapeutics Price Performance

NASDAQ TRVI opened at $6.47 on Wednesday. The company has a market capitalization of $497.32 million, a price-to-earnings ratio of -14.70 and a beta of 0.90. Trevi Therapeutics has a 12 month low of $2.30 and a 12 month high of $7.39. The company’s fifty day moving average price is $4.60 and its two-hundred day moving average price is $3.75.

Trevi Therapeutics (NASDAQ:TRVI) last issued its quarterly earnings results on Tuesday, March 18th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.01. As a group, analysts anticipate that Trevi Therapeutics will post -0.49 EPS for the current year.

Insider Buying and Selling at Trevi Therapeutics

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TRVI. Summit Investment Advisors Inc. raised its holdings in shares of Trevi Therapeutics by 84.2% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,332 shares of the company’s stock valued at $26,000 after buying an additional 2,894 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in Trevi Therapeutics by 130.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,930 shares of the company’s stock worth $40,000 after buying an additional 6,764 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Trevi Therapeutics in the 4th quarter valued at approximately $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 acquired a new position in Trevi Therapeutics during the 4th quarter worth $66,000. 95.76% of the stock is owned by institutional investors and hedge funds.

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.