Trevi Therapeutics Earns “Buy” Recommendations from Analysts
Trevi Therapeutics, Inc. (NASDAQ:TRVI) has received an average recommendation of “Buy” from the analysts covering its stock, according to data compiled by MarketBeat Ratings. Out of the eleven brokerages assessing Trevi, one analyst issued a sell recommendation, while eight analysts favored a buy rating and two designated the stock as a strong buy.
The average twelve-month target price set by analysts for Trevi shares stands at $21.10. Several research reports have highlighted varying perspectives on the company’s prospects. For instance, Weiss Ratings reaffirmed a “sell (d-)” rating on October 8, 2023. In contrast, Morgan Stanley raised its price target from $18.00 to $19.00, assigning an “overweight” rating on November 14, 2023.
On the same day, Oppenheimer increased their price objective from $23.00 to $24.00 and gave Trevi an “outperform” rating. Stifel Nicolaus also adjusted its price target, lifting it from $15.00 to $18.00, while maintaining a “buy” rating for the stock. Lastly, Leerink Partners raised their forecast from $13.00 to $16.00, also categorizing the shares as “outperform” in a report dated November 19, 2023.
Recent Performance and Investor Activity
Trevi Therapeutics recently reported its quarterly earnings on November 13, 2023, with an earnings per share (EPS) of ($0.08). This figure surpassed the consensus estimate of ($0.10) by $0.02. Analysts predict that Trevi will post an EPS of ($0.49) for the current fiscal year.
Institutional investors have shown considerable interest in Trevi, with several large firms recently adjusting their positions. China Universal Asset Management Co. Ltd. increased its stake by 4.5% in the third quarter, now holding 21,346 shares valued at approximately $195,000. Ameritas Investment Partners Inc. also boosted its holdings by 20.5%, acquiring an additional 1,300 shares, bringing its total to 7,632 shares valued at $70,000.
Meanwhile, Persistent Asset Partners Ltd. raised its stake in Trevi by 3.3% in the second quarter, now owning 42,788 shares worth around $234,000. BIT Capital GmbH grew its position by an impressive 32.0% in the third quarter, increasing its shareholding to 6,739 shares valued at $62,000. American Century Companies Inc. also added to its holdings by 2.1%, now controlling 79,796 shares worth about $502,000. Notably, institutional investors collectively own 95.76% of Trevi Therapeutics’ stock.
Company Overview
Trevi Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing novel non-opioid therapies aimed at managing chronic and acute pain. The company utilizes proprietary drug delivery platforms and targeted molecular approaches to address significant unmet needs in cancer-related pain, chemotherapy-induced neuropathy, and other severe pain conditions. Its lead product candidate is a proprietary formulation of tetrodotoxin (TTX), a sodium-channel blocking agent currently undergoing early-stage clinical trials for treating moderate-to-severe pain associated with advanced cancer and peripheral neuropathy.
As Trevi Therapeutics continues to navigate the complexities of the biopharmaceutical landscape, the mixed analyst ratings and active institutional investment reflect a dynamic interest in its future potential.
