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On Monday, Raymond (NSE:RYMD) James analysts reiterated a Strong Buy rating on Trevi Therapeutics stock (NASDAQ: NASDAQ:TRVI) with a price target of $29.00. According to InvestingPro data, the stock has received strong analyst support, with 5 analysts recently revising their earnings estimates upward. The current analyst consensus is highly bullish, with price targets ranging from $11.00 to $29.00. The reaffirmation follows Trevi’s announcement of statistically significant results from its Phase 2b CORAL study, demonstrating notable reductions in 24-hour cough frequency.
The study showed placebo-adjusted reductions of over 30% across all doses, with a 43.3% reduction for the 108mg BID dose. Analysts noted that this outcome positions Trevi’s Haduvio as a leading treatment in the idiopathic pulmonary fibrosis-related chronic cough (IPF-CC) landscape, which currently faces minimal competition.
Trevi now holds a significant dataset to challenge in IPF-CC and boasts the best Phase 2a cough reduction data in refractory chronic cough (RCC), with a 57% placebo-adjusted reduction. Analysts highlight the potential for Haduvio’s expansion into other chronic cough markets, given the strong performance in these trials.
The analysis draws comparisons to Bellus, which was acquired by GSK for approximately $2 billion based on its Phase 2b RCC results. Analysts believe Haduvio’s current setup surpasses Bellus’s pre-acquisition position, enhancing confidence in its future pivotal programs in IPF-CC and RCC. With a market capitalization of $603 million and an impressive 153% return over the past year, Trevi has shown strong momentum. InvestingPro subscribers can access 8 additional key insights about Trevi’s market performance and financial health.
Haduvio’s efficacy was further supported by secondary endpoints, with significant reductions in 24-hour cough frequency across all evaluated doses, reinforcing its potential as a leading antitussive treatment in IPF-CC and RCC. The company maintains a strong financial position with more cash than debt on its balance sheet, and InvestingPro analysis indicates a "GOOD" overall financial health score, suggesting solid fundamentals to support its clinical development programs.
In other recent news, Trevi Therapeutics announced positive results from its Phase 2b CORAL trial, which evaluated Haduvio for chronic cough in patients with idiopathic pulmonary fibrosis. The trial met its primary endpoint, showing significant reductions in cough frequency across all doses, with the most notable reduction in the 108 mg BID dose group. The treatment was generally well-tolerated, with adverse events consistent with previous trials. Analysts from H.C. Wainwright initiated coverage on Trevi with a Buy rating and a price target of $21, citing the potential of Haduvio in treating refractory chronic cough and idiopathic pulmonary fibrosis chronic cough. B.Riley analysts also maintained a Buy rating and set a $20 price target, emphasizing the strong clinical data supporting Haduvio’s efficacy. Stifel reiterated its Buy rating with a $15 target, highlighting the treatment’s promising mechanism of action and the quality of Trevi’s study design. These recent developments underscore Trevi’s progress in advancing Haduvio as a potential treatment for chronic cough conditions.
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