Procore signs multi-year strategic collaboration agreement with AWS
Investing.com - Cantor Fitzgerald initiated coverage on Trevi Therapeutics (NASDAQ:TRVI), currently trading at $5.47 with a market cap of $652 million, with an Overweight rating and a $25 price target, representing approximately 300% upside from current levels. The stock has shown strong momentum, delivering an impressive 89% return over the past year, according to InvestingPro data.
The research firm described its recommendation as a high-conviction call for Trevi’s pre-commercial program developing Haduvio, a mixed opioid agonist/antagonist for chronic cough conditions. Cantor Fitzgerald noted that Haduvio has demonstrated consistent and strong reductions in cough of more than 50% across multiple Phase 2 studies in both interstitial pulmonary fibrosis (IPF) and refractory chronic cough (RCC). InvestingPro data shows the company maintains a strong financial position with a current ratio of 15.38 and minimal debt relative to its cash position.
Trevi Therapeutics plans to begin a Phase 3 trial for IPF chronic cough in the first half of 2026, with projected enrollment completion within a year and topline data expected by mid-2027. The company anticipates filing for regulatory approval in 2028, though Cantor Fitzgerald suggests enrollment could proceed faster than expected given the size of the patient population and unmet need.
Haduvio is the first and only drug to show positive data for both chronic cough in IPF and RCC, according to the research firm. The drug is currently completing Phase 2 development for these indications.
Additional clinical studies are expected to generate news flow while the Phase 3 trial progresses, including a Phase 2 study for non-IPF interstitial lung disease that should report results by the end of 2026, and an advancing Phase 2b study in refractory chronic cough. With analyst targets ranging from $13 to $29, and the next earnings report due on August 7, investors can access comprehensive analysis and 10+ additional key insights through InvestingPro’s detailed research report.
In other recent news, Trevi Therapeutics announced positive results from its Phase 2b CORAL trial, which evaluated Haduvio for treating chronic cough associated with idiopathic pulmonary fibrosis (IPF-CC). The trial demonstrated statistically significant reductions in 24-hour cough frequency, with the 108 mg BID dose achieving a placebo-adjusted change of -43.3%. Following these results, H.C. Wainwright, Stifel, and Raymond (NSE:RYMD) James maintained their Buy ratings on Trevi’s stock, with Raymond James setting a price target of $29. Oppenheimer also raised its price target to $23, citing the strong trial outcomes and the absence of approved treatment options for IPF-CC. Trevi plans to initiate its Phase 3 program in the first half of 2026 after an End-of-Phase 2 meeting with the FDA. Additionally, Trevi Therapeutics launched a $100 million public offering of common stock, with an option for underwriters to purchase an additional $15 million in shares. The offering is subject to market conditions, and a preliminary prospectus supplement will be filed with the SEC. These developments highlight Trevi’s ongoing efforts to advance Haduvio as a leading treatment for chronic cough conditions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.