Trevi Therapeutics (TRVI) Stock: Why It Increased Today

By Amit Chowdhry ● Jun 30, 2022
  • The stock price of Trevi Therapeutics (NASDAQ: TRVI) increased by over 1% during intraday trading today. This is why.

The stock price of Trevi Therapeutics (NASDAQ: TRVI) increased by over 1% during intraday trading today. Investors are responding positively to a bullish research report.

Oppenheimer analyst Leland Gershall increased the price target on Trevi Therapeutics from $10. And Gershall is maintaining an “Outperform” rating on the shares.

“Yesterday’s positive top-line results from the Phase 2b/3 PRISM trial in prurigo nodularis (PN) demonstrate Haduvio’s ability to address many with this chronic condition (300,000 in the US alone) that lacks approved therapies,” wrote Gershall in a research note. “We believe Haduvio’s oral convenience and tolerability position it favorably to competing candidates in development. Early and consistent benefit across assessments of itch, quality-of-life, and skin lesions gives us comfort on remaining development steps. With investors focused on Haduvio’s opportunity to relieve IPF chronic cough (we model $350+ million US sales potential) since February’s impressive interim Phase 2 data, yesterday’s announcement solidifies prospects for a second, distinct indication that we believe could be worth $400+ million in the US.”

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