Analyst Serge Belanger from Needham maintained a Buy rating on Trevi Therapeutics (TRVI – Research Report) and decreased the price target to $24.00 from $25.00.
Serge Belanger has given his Buy rating due to a combination of factors that highlight Trevi Therapeutics’ promising prospects. The recent positive results from the Phase 2a RIVER trial have been pivotal, showcasing significant potential for Haduvio, particularly with its efficacy demonstrated even at the lowest tested dose. This development not only expands the market potential for Haduvio but also strengthens confidence in its therapeutic capabilities.
Further bolstering this positive outlook is the anticipated readout from the Phase 2b CORAL trial, expected in the latter part of the second quarter of 2025. The expectation of favorable results from this trial is based on previous analyses and could significantly reduce the risks associated with Haduvio’s application in treating IPF cough. This potential success, along with the possibility of broader applications in cough treatment, supports the Buy rating and reflects a strategic adjustment in the price target to $24.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $12.50 price target.