Trevi Therapeutics (TRVI – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst on May 12. Analyst Faisal Khurshid from Leerink Partners reiterated a Buy rating on the stock and has a $11.00 price target.
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Faisal Khurshid’s rating is based on the upcoming data release from Trevi Therapeutics’ Phase 2b CORAL study of Haduvio for IPF cough, which is expected to be a significant milestone in the drug’s development. The positive outlook is supported by strong results from previous Phase 2a studies, a favorable sample size re-estimation, and the drug’s broad mechanism of action. The data, anticipated in early June, is expected to exceed expectations in terms of effect size and tolerability, potentially shifting Trevi’s risk profile towards a late-stage company and increasing its value.
Furthermore, the Phase 2b CORAL study is the first parallel-design study for Haduvio, following successful crossover-design Phase 2a studies. The study’s positive sample size re-estimation, which maintained 80% conditional power for a significant placebo-adjusted cough count reduction, further de-risks the readout. Achieving statistical significance in efficacy, particularly above the powering benchmark, would provide substantial upside and support further development in the IPF cough landscape, aligning with management’s views.
According to TipRanks, Khurshid is a 5-star analyst with an average return of 24.3% and a 45.57% success rate. Khurshid covers the Healthcare sector, focusing on stocks such as aTyr Pharma, Trevi Therapeutics, and Pliant Therapeutics.
In another report released on May 12, JonesTrading also reiterated a Buy rating on the stock with a $25.00 price target.