Trevi Therapeutics: Positive Developments and Financial Strength Support Buy Rating

Leerink Partners analyst Faisal Khurshid reiterated a Buy rating on Trevi Therapeutics (TRVI – Research Report) on June 11 and set a price target of $13.00.

Faisal Khurshid’s rating is based on several positive developments surrounding Trevi Therapeutics. The company recently completed a significant public offering, raising $115 million, which extends its financial runway into 2029 and supports the execution of a Phase 3 study for Haduvio in treating IPF cough. This follows the positive results from the Phase 2b CORAL study, which demonstrated promising efficacy and acceptable safety for Haduvio, thereby improving the company’s risk profile.
Furthermore, the upcoming end-of-Phase 2 meeting with the FDA is expected to align on the Phase 3 trial design, which is crucial for determining the timeline to pivotal data. The anticipated initiation of Phase 3 in early 2026, with data expected by late 2027 to early 2028, marks a significant inflection point. Additionally, there is potential for expansion into treating interstitial lung disease cough, which could enhance the company’s market opportunities. These factors collectively support the Buy rating for Trevi Therapeutics.

In another report released on June 3, Oppenheimer also maintained a Buy rating on the stock with a $23.00 price target.

Based on the recent corporate insider activity of 18 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TRVI in relation to earlier this year.