Trevi Therapeutics Inc (TRVI)
NASDAQ:TRVI
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Trevi Therapeutics
(NASDAQ:TRVI)
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Rating:59Neutral
Price Target:
$18.00
▲(33.63% Upside)
Action:Reiterated
Date:06/05/26
The score is driven primarily by solid funding and clinical/regulatory execution signals (runway into 2030 and near-term Phase III/Phase IIb initiations), balanced against weak current financial performance typical of pre-revenue biotech (ongoing losses and cash burn). Technical indicators are mildly bearish/neutral, and valuation remains constrained by negative earnings and no dividend support.
Positive Factors
Low leverage & meaningful assets
Very low leverage and roughly $180M in assets give Trevi structural financial flexibility to fund multi-year clinical programs. Limited debt reduces refinancing risk and preserves strategic optionality, enabling management to prioritize development milestones without high interest burdens.
Negative Factors
Sustained operating cash burn
Persistent negative operating and free cash flow (~-$45M and -$32M TTM) means Trevi must rely on external capital to sustain development. Recurring burn increases dilution risk or forces program prioritization, which can delay or shrink the pipeline if financing conditions tighten.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage & meaningful assets
Very low leverage and roughly $180M in assets give Trevi structural financial flexibility to fund multi-year clinical programs. Limited debt reduces refinancing risk and preserves strategic optionality, enabling management to prioritize development milestones without high interest burdens.
Read all positive factors
Trevi Therapeutics (TRVI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.44B
Dividend YieldN/A
Average Volume (3M)2.56M
Price to Earnings (P/E)―
Beta (1Y)0.64
Revenue GrowthN/A
EPS Growth27.89%
CountryUS
Employees31
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.32
Shares Outstanding141,979,700
10 Day Avg. Volume1,820,513
30 Day Avg. Volume2,561,308
Financial Highlights & Ratios
PEG Ratio1.13
Price to Book (P/B)9.91
Price to Sales (P/S)0.00
P/FCF Ratio-43.15
Enterprise Value/Market Cap0.94
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit-67.81K
Enterprise Value/Ebitda-50.62
Forecast
1Y Price Target
$24.43Price Target Upside81.36% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)-0.47
Revenue Forecast (FY)N/A
Trevi Therapeutics Business Overview & Revenue Model
Company Description
Trevi Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on the advancement and commercialization of Haduvio, a potential treatment for debilitating neurologically mediated conditions. This orally administered, extended-relea...
How the Company Makes Money
null...
Trevi Therapeutics Earnings Call Summary
Earnings Call Date:May 05, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 06, 2026
Earnings Call Sentiment Positive
The call conveyed solid execution progress: a strengthened balance sheet (pro forma cash ~ $334M) with runway into 2030, positive FDA alignment for IPF-related chronic cough, near-term trial initiations (Phase III IPF, Phase IIb RCC), an adaptive plan for non-IPF-ILD pending FDA agreement, expansion of IP filings and active scientific visibility (ATS, Investor Day). Principal risks discussed include competitor P2X3 readouts, possible trial upsizing via SSRE (and associated costs/timing), placebo variability in RCC, and regulatory dependence for the non-IPF-ILD program. On balance, the company presented multiple material positives and manageable risks tied to execution and external competitive/regulatory factors.Positive Updates
Strong Cash Position and Recent Financing
Ended Q1 2026 with ~$172M in cash, cash equivalents and marketable securities, plus $162M in net proceeds from an April 2026 underwritten common stock offering (total pro forma cash ~ $334M). Management states the financing extends runway into 2030 and removes financial overhang ahead of key clinical value inflection points.
Negative Updates
Competitive Uncertainty from P2X3 Readouts
Upcoming P2X3 (e.g., camlipixant) readouts could materially affect market positioning and commercial strategy. Management expects to learn from competitor placebo and trial conduct but acknowledges outcomes (positive or negative) could change competitive dynamics and go-to-market positioning.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Cash Position and Recent Financing
Ended Q1 2026 with ~$172M in cash, cash equivalents and marketable securities, plus $162M in net proceeds from an April 2026 underwritten common stock offering (total pro forma cash ~ $334M). Management states the financing extends runway into 2030 and removes financial overhang ahead of key clinical value inflection points.
Read all positive updates
Company Guidance
Management guided that Trevi finished Q1 2026 with approximately $172M in cash, cash equivalents and marketable securities (excluding ~$162M net proceeds from an April 2026 offering) and said the financing extends runway into 2030 and is expected to fund development through potential FDA approval in IPF-related chronic cough plus planned Phase IIb (and potentially Phase III) non‑IPF‑ILD and the planned RCC Phase IIb; the team finalized Phase III protocols for two IPF pivotal studies and expects to initiate the first study this quarter and the second in H2 2026, plans to submit an adaptive Phase II/III protocol for non‑IPF‑ILD to the FDA and—if agreed—initiate that study in H2 2026, and expects to initiate a RCC Phase IIb 3‑dose plus placebo trial this quarter with a sample‑size reestimation at 50% completion and an SSRE readout expected in Q4 2026 (SSRE uses an ~80% conditional‑power target with futility in the ~30–40% range); additionally, core method‑of‑treatment patents were issued in the U.S. and Europe protecting through 2039 with U.S. filings that could extend coverage to 2046.Trevi Therapeutics Financial Statement Overview
Summary
Income Statement
14
Very Negative
Balance Sheet
72
Positive
Cash Flow
28
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -34.00K | 0.00 | -147.00K | 0.00 | 0.00 | -50.00K |
| EBITDA | -45.54M | -42.68M | -47.79M | -28.58M | -27.98M | -32.71M |
| Net Income | -45.61M | -42.76M | -47.91M | -29.07M | -29.15M | -33.94M |
Balance Sheet | ||||||
| Total Assets | 179.61M | 193.44M | 110.90M | 89.40M | 123.02M | 38.48M |
| Cash, Cash Equivalents and Short-Term Investments | 171.78M | 188.26M | 107.62M | 82.97M | 120.51M | 36.83M |
| Total Debt | 682.00K | 753.00K | 1.03M | 1.34M | 9.18M | 14.63M |
| Total Liabilities | 7.48M | 10.20M | 11.26M | 6.86M | 15.56M | 21.40M |
| Stockholders Equity | 172.13M | 183.24M | 99.64M | 82.55M | 107.46M | 17.07M |
Cash Flow | ||||||
| Free Cash Flow | -31.94M | -42.10M | -38.29M | -31.85M | -28.33M | -28.95M |
| Operating Cash Flow | -45.30M | -42.09M | -38.26M | -31.71M | -28.18M | -28.95M |
| Investing Cash Flow | -67.19M | -94.11M | -21.53M | 59.43M | -107.37M | 0.00 |
| Financing Cash Flow | 112.53M | 121.01M | 61.48M | -7.91M | 111.31M | 20.77M |
Trevi Therapeutics Technical Analysis
Positive
13.47
Price Trends
14.26
Positive
12.83
Positive
11.82
Positive
Market Momentum
0.48
Negative
75.45
Negative
89.72
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TRVI, the sentiment is Positive. The current price of 13.47 is below the 20-day moving average (MA) of 14.28, below the 50-day MA of 14.26, and above the 200-day MA of 11.82, indicating a bullish trend. The MACD of 0.48 indicates Negative momentum. The RSI at 75.45 is Negative, neither overbought nor oversold. The STOCH value of 89.72 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TRVI.
Trevi Therapeutics Risk Analysis
Trevi Therapeutics disclosed 73 risk factors in its most recent earnings report. Trevi Therapeutics reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Trevi Therapeutics Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
59 Neutral | $2.44B | -54.94 | -24.53% | ― | ― | 27.89% | |
55 Neutral | $1.19B | -6.72 | -56.41% | ― | -31.58% | -27.41% | |
55 Neutral | $7.87B | -24.97 | -43.02% | ― | -100.00% | -24.90% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $2.06B | -9.54 | -87.00% | ― | -36.24% | 11.52% | |
51 Neutral | $1.94B | -13.23 | -44.10% | ― | 1205.52% | 81.79% | |
46 Neutral | $878.86M | -6.62 | -35.33% | ― | ― | 23.91% |
* Healthcare Sector Average
TRVI
Trevi Therapeutics
17.21
11.46
199.30%
NKTR
Nektar Therapeutics
60.98
51.44
539.20%
WVE
Wave Life Sciences
6.16
-0.80
-11.49%
ORIC
Oric Pharmaceuticals
8.49
-1.51
-15.10%
NUVB
Nuvation Bio
5.56
3.53
173.89%
PRAX
Praxis Precision Medicines
282.31
240.68
578.14%
Trevi Therapeutics Corporate Events
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Trevi Therapeutics Shareholders Approve Stock and Governance Changes
Positive
Jun 4, 2026
On June 3, 2026, Trevi Therapeutics, Inc. stockholders approved an amended and restated 2019 Stock Incentive Plan, adding 8,000,000 shares for issuance, capping non-employee director compensation, tightening share recycling rules, and aligning div...
Business Operations and StrategyPrivate Placements and Financing
Trevi Therapeutics Prices Public Offering to Fund Haduvio
Positive
Apr 17, 2026
On April 16, 2026, Trevi Therapeutics, Inc., a clinical-stage biopharmaceutical company developing Haduvio for chronic cough in idiopathic pulmonary fibrosis, non-IPF interstitial lung disease, and refractory chronic cough, priced an underwritten ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.