Key Points
- Director Michael Thomas Heffernan sold 39,473 Trevi Therapeutics shares for approximately $595,648 at an average price of $15.09, reducing his ownership by 86.14% to 6,351 shares.
- Trevi Therapeutics shares opened at $15.21, with a market capitalization of $2.17 billion; the company reported quarterly EPS of $(0.11), in line with analyst expectations.
- Analysts maintain a generally bullish outlook, with a consensus “Buy” rating and an average price target of $27.08. Institutional investors own 95.76% of the stock, while Trevi continues developing Haduvio for chronic cough conditions.
Trevi Therapeutics, Inc. (NASDAQ:TRVI - Get Free Report) Director Michael Thomas Heffernan sold 39,473 shares of the stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $15.09, for a total value of $595,647.57. Following the transaction, the director owned 6,351 shares in the company, valued at $95,836.59. This trade represents a 86.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Trevi Therapeutics Trading Up 1.3%
Shares of NASDAQ TRVI opened at $15.21 on Friday. The stock's 50-day moving average is $17.53 and its 200 day moving average is $15.33. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of -44.74 and a beta of 1.04. Trevi Therapeutics, Inc. has a 1-year low of $8.03 and a 1-year high of $20.22.
Trevi Therapeutics (NASDAQ:TRVI - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.11). On average, analysts forecast that Trevi Therapeutics, Inc. will post -0.48 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
TRVI has been the subject of a number of research reports. B. Riley Financial upped their price objective on shares of Trevi Therapeutics from $21.00 to $31.00 and gave the company a "buy" rating in a research note on Monday, July 20th. JonesTrading lifted their target price on shares of Trevi Therapeutics from $24.00 to $28.00 and gave the stock a "buy" rating in a research report on Friday, August 14th. HC Wainwright boosted their price target on shares of Trevi Therapeutics from $21.00 to $24.00 and gave the stock a "buy" rating in a research note on Monday, July 20th. BMO Capital Markets initiated coverage on shares of Trevi Therapeutics in a research report on Monday, July 20th. They set an "outperform" rating and a $36.00 price target for the company. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and set a $40.00 price objective on shares of Trevi Therapeutics in a research note on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Trevi Therapeutics has a consensus rating of "Buy" and an average target price of $27.08.
Read Our Latest Research Report on Trevi Therapeutics
Institutional Trading of Trevi Therapeutics
Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new position in shares of Trevi Therapeutics in the second quarter worth approximately $208,041,000. Wellington Management Group LLP increased its stake in shares of Trevi Therapeutics by 9.5% in the second quarter. Wellington Management Group LLP now owns 5,684,592 shares of the company's stock worth $106,018,000 after buying an additional 495,504 shares during the period. Artia Global Partners LP purchased a new position in shares of Trevi Therapeutics in the second quarter worth $41,232,000. First Light Asset Management LLC bought a new stake in Trevi Therapeutics during the 2nd quarter valued at $39,113,000. Finally, Eventide Asset Management LLC raised its holdings in Trevi Therapeutics by 89.8% during the 4th quarter. Eventide Asset Management LLC now owns 2,622,306 shares of the company's stock valued at $32,831,000 after buying an additional 1,240,982 shares during the last quarter. Institutional investors own 95.76% of the company's stock.
Trevi Therapeutics Company Profile
(
Get Free Report)
Trevi Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing medicines for chronic cough and other conditions involving dysregulated sensory nerve activity. The company's lead product candidate is Haduvio, an oral extended-release formulation of nalbuphine designed to reduce chronic cough through activity at opioid receptors.
Trevi is studying Haduvio for chronic cough associated with idiopathic pulmonary fibrosis, a progressive lung disease, as well as refractory chronic cough, a condition in which coughing persists despite treatment of underlying causes.
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