Trevi Therapeutics, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Brandon Folkes from H.C. Wainwright reiterated a Buy rating on the stock and has a $21.00 price target.
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Brandon Folkes has given his Buy rating due to a combination of factors including the promising results from Trevi Therapeutics’ Phase 2b CORAL trial for Haduvio. The trial demonstrated statistically significant reductions in 24-hour cough frequency in patients with chronic cough associated with idiopathic pulmonary fibrosis (IPF-CC), with the highest dose group achieving a 60.2% reduction. This success not only validates the mechanism of Haduvio but also highlights its potential as a novel treatment in a field where no approved therapies currently exist.
Furthermore, Haduvio showed significant improvements in quality-of-life metrics, as evidenced by the meaningful increases in Leicester Cough Questionnaire scores. The company’s strong financial position, bolstered by a recent $115 million offering, extends its operational runway into 2029, supporting the advancement of its clinical programs. Folkes’ valuation is based on a risk-adjusted net present value analysis, factoring in a weighted average cost of capital and an exit multiple, with a high probability of success assigned to Haduvio’s development in both IPF-CC and RCC.