Trevi Therapeutics, Inc. (NASDAQ:TRVI) has garnered an average recommendation of “Buy” from analysts covering the stock, according to MarketBeat Ratings. Eleven brokerages have issued assessments, revealing a nuanced perspective on the company’s financial outlook. Among these, one analyst has recommended selling, while eight have suggested buying the stock, and two have given it a strong buy rating.
The average target price for Trevi Therapeutics stands at $21.10 for the next twelve months. This figure reflects the analysts’ confidence in the company’s potential. Notably, the stock has been the focus of various research reports recently, indicating a growing interest from financial experts in its performance and prospects.
Recent Analyst Reports Highlight Diverse Opinions
In a report released on October 8, 2023, Weiss Ratings reaffirmed a “sell (d-)” rating for Trevi Therapeutics, suggesting caution for investors. Conversely, on November 14, 2023, Morgan Stanley raised its price target for the company from $18.00 to $19.00, issuing an “overweight” rating that reflects a positive outlook. Oppenheimer followed suit, increasing its price target from $23.00 to $24.00 and labeling the stock as “outperform.”
Additionally, Stifel Nicolaus adjusted its target price from $15.00 to $18.00, supporting a “buy” recommendation, while Leerink Partners increased its target from $13.00 to $16.00, also granting an “outperform” rating. These varied assessments underscore the contrasting views within the investment community regarding Trevi Therapeutics’ future.
Financial Performance and Institutional Investments
Trevi Therapeutics recently reported its quarterly earnings on November 13, 2023, revealing an earnings per share (EPS) of ($0.08). This performance exceeded the consensus estimate of ($0.10) by $0.02. Analysts anticipate that the company will post an EPS of (0.49) for the current fiscal year, suggesting ongoing challenges in achieving profitability.
Institutional investors have shown significant interest in Trevi Therapeutics. For instance, China Universal Asset Management Co. Ltd. increased its stake by 4.5% during the third quarter, now holding 21,346 shares valued at approximately $195,000. Similarly, Ameritas Investment Partners Inc. raised its holdings by 20.5%, now owning 7,632 shares worth $70,000.
Other noteworthy investors include Persistent Asset Partners Ltd., which lifted its holdings by 3.3% and now owns 42,788 shares valued at $234,000. BIT Capital GmbH also expanded its position by 32.0%, acquiring 6,739 shares worth $62,000. Overall, institutional investors control approximately 95.76% of Trevi Therapeutics’ stock.
Trevi Therapeutics is a clinical-stage biopharmaceutical company specializing in the development of innovative non-opioid therapies for chronic and acute pain management. Its lead product candidate, a proprietary formulation of tetrodotoxin (TTX), is under evaluation in early-stage clinical trials targeting moderate-to-severe pain associated with advanced cancer and peripheral neuropathy. As the company navigates its path forward, the insights from analysts and institutional investors will likely play a crucial role in shaping its future trajectory.
