Morgan Stanley analyst Judah Frommer lowered the firm’s price target on Trevi Therapeutics (TRVI) to $18 from $19 and keeps an Overweight rating on the shares. The firm updated its model after Trevi provided its fourth quarter update. Current cash will fund readouts across non-IPF ILD, RCC, and the smaller Phase 3 IPF study, “generating ample impactful catalysts through guided cash runway,” the analyst tells investors.
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