BMO Capital Markets Initiates Coverage on Trevi Therapeutics (NASDAQ:TRVI)

BMO Capital Markets assumed coverage on shares of Trevi Therapeutics (NASDAQ:TRVI) in a report published on Monday, June 3rd, BenzingaRatingsTable reports. The brokerage issued an outperform rating and a $15.00 price objective on the stock.

Several other brokerages also recently commented on TRVI. Leerink Swann started coverage on Trevi Therapeutics in a research note on Monday, June 3rd. They issued an outperform rating for the company. Stifel Nicolaus started coverage on Trevi Therapeutics in a research note on Monday, June 3rd. They issued a buy rating and a $20.00 price objective for the company. Five investment analysts have rated the stock with a buy rating, The stock has an average rating of Buy and an average price target of $16.75.

TRVI stock traded down $0.40 during trading on Monday, reaching $7.50. 26,378 shares of the stock were exchanged, compared to its average volume of 86,836. The business’s 50 day simple moving average is $8.68. Trevi Therapeutics has a twelve month low of $5.69 and a twelve month high of $10.62.

In other news, major shareholder Invest A/S Lundbeckfond acquired 375,000 shares of Trevi Therapeutics stock in a transaction on Thursday, May 9th. The stock was acquired at an average cost of $10.00 per share, with a total value of $3,750,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anne Vanlent acquired 5,000 shares of Trevi Therapeutics stock in a transaction on Thursday, May 9th. The shares were purchased at an average cost of $10.00 per share, with a total value of $50,000.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 391,250 shares of company stock valued at $3,912,500.

Trevi Therapeutics Company Profile

Trevi Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of nalbuphine ER to treat serious neurologically mediated conditions. The company's nalbuphine ER, which is in Phase IIb/III clinical trial is an oral extended release formulation of nalbuphine that is used for the treatment of chronic pruritus, chronic cough in patients with idiopathic pulmonary fibrosis, and levodopa-induced dyskinesia in patients with Parkinson's disease.

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