Trevi Therapeutics (NASDAQ:TRVI) Upgraded to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Trevi Therapeutics (NASDAQ:TRVI) from a hold rating to a buy rating in a report released on Wednesday, Zacks.com reports. Zacks Investment Research currently has $1.00 price target on the stock.

According to Zacks, “Trevi Therapeutics Inc. is a clinical-stage biopharmaceutical company. It is focused on the development and commercialization of nalbuphine ER to treat serious neurologically mediated conditions. The company is currently developing nalbuphine ER for the treatment of chronic pruritus, chronic cough in patients with idiopathic pulmonary fibrosis and levodopa-induced dyskinesia in patients with Parkinson’s disease. Trevi Therapeutics Inc. is based in New Haven, Connecticut. “

Separately, Needham & Company LLC decreased their price target on Trevi Therapeutics from $10.00 to $8.00 and set a buy rating on the stock in a research note on Thursday, November 11th.

Shares of Trevi Therapeutics stock opened at $1.03 on Wednesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.10 and a quick ratio of 4.09. The business’s 50 day simple moving average is $1.24 and its two-hundred day simple moving average is $1.72. The stock has a market capitalization of $26.62 million, a P/E ratio of -0.58 and a beta of -0.06. Trevi Therapeutics has a one year low of $0.97 and a one year high of $3.64.

Trevi Therapeutics (NASDAQ:TRVI) last announced its quarterly earnings results on Wednesday, November 10th. The company reported ($0.34) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.33) by ($0.01). During the same period last year, the firm earned ($0.41) earnings per share. Sell-side analysts expect that Trevi Therapeutics will post -1.61 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Citadel Advisors LLC purchased a new position in shares of Trevi Therapeutics during the first quarter valued at approximately $29,000. Alberta Investment Management Corp purchased a new position in shares of Trevi Therapeutics during the second quarter valued at approximately $56,000. Finally, Renaissance Technologies LLC increased its stake in shares of Trevi Therapeutics by 374.1% during the first quarter. Renaissance Technologies LLC now owns 121,849 shares of the company’s stock valued at $330,000 after buying an additional 96,149 shares during the period. 52.00% of the stock is currently owned by hedge funds and other institutional investors.

About Trevi Therapeutics

Trevi Therapeutics, Inc is a clinical-stage biopharmaceutical company, which engages in the development and commercialization Haduvio to treat serious neurologically mediated conditions. It includes treatment of chronic pruritus associated with prurigo nodularis and chronic cough in patients with idiopathic pulmonary fibrosis, and levodopa-induced dyskinesia in patients with Parkinson’s disease.

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