H.C. Wainwright has initiated coverage on Trevi Therapeutics (TRVI, Financial), assigning a Buy rating and setting a target price of $21. The company is actively developing its drug, Haduvio, aimed at treating refractory chronic cough and idiopathic pulmonary fibrosis chronic cough. According to analysts, the initial data from Trevi's RIVER Phase 2a trial in refractory chronic cough, which was released earlier this year, is promising. They believe that the company's pathway to gaining approval for this condition is now much clearer and more secure than the market currently acknowledges.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 9 analysts, the average target price for Trevi Therapeutics Inc (TRVI, Financial) is $19.72 with a high estimate of $29.00 and a low estimate of $11.00. The average target implies an upside of 220.17% from the current price of $6.16. More detailed estimate data can be found on the Trevi Therapeutics Inc (TRVI) Forecast page.
Based on the consensus recommendation from 9 brokerage firms, Trevi Therapeutics Inc's (TRVI, Financial) average brokerage recommendation is currently 1.6, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
TRVI Key Business Developments
Release Date: May 08, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
- Trevi Therapeutics Inc (TRVI, Financial) reported positive data from the Phase 2A river trial in RCC patients, achieving a statistically significant reduction in 24-hour objective cough frequency.
- The company completed enrollment in the Phase 2b choral trial for IPF chronic cough patients, with data expected this quarter.
- The RCC trial showed a 57% placebo-adjusted reduction in cough from baseline, indicating strong efficacy.
- Trevi Therapeutics Inc (TRVI) has a cash runway into the fourth quarter of 2026, providing financial stability for ongoing trials.
- The FDA provided clear guidance on a technical matter, indicating a positive regulatory relationship.
Negative Points
- Trevi Therapeutics Inc (TRVI) reported a net loss of $10.4 million for the first quarter of 2025, slightly lower than the previous year.
- R&D expenses decreased due to reduced costs related to a human abuse potential study, but personnel-related expenses increased.
- G&A expenses increased to $3.7 million, primarily due to higher personnel-related costs.
- The company faces challenges in the IPF study due to the complexity of the trial and the diverse patient population across 60 sites in 10 countries.
- There is uncertainty regarding the long-term patient safety monitoring protocols for the phase 3 trial, which may require additional FDA feedback.
