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Tuesday, Raymond (NSE:RYMD) James maintained a Strong Buy rating on Trevi Therapeutics stock (NASDAQ:TRVI), with a price target of $29.00, representing significant upside from the current price of $6.49. The firm’s analyst, Ryan Deschner, provided insights following Trevi’s presentation at a recent KOL panel event during the ATS conference. According to InvestingPro data, analyst consensus is highly bullish with five analysts recently revising their earnings estimates upward, while price targets range from $11 to $29. Trevi Therapeutics shared additional data from their Phase 2a RIVER study, which evaluates Haduvio in Refractory Chronic Cough (RCC).
The newly released data includes various metrics on cough frequency and quality of life improvements, such as awake cough frequency data, detailed 24-hour cough frequency response by dose and response threshold, treatment period comparisons, Leicester Cough Questionnaire (LCQ) outcomes, as well as information on central nervous system (CNS) and gastrointestinal (GI) adverse events (AEs). Also mentioned were the timing of discontinuations and individual patient response specifics.
Deschner highlighted that the data supports the view that Trevi’s Haduvio has shown the strongest Phase 2a efficacy signal to date in RCC. According to a key opinion leader (KOL) at the event, Haduvio’s efficacy in RCC is considered a "safe bet." This data appears to reinforce the potential for Haduvio’s dual mechanism of action, which acts both centrally and peripherally, to be beneficial in a broader range of cough-related indications.
Moreover, the analyst underscored the potential for expanding Haduvio’s use into other interstitial lung diseases (ILDs), which another KOL at the event referred to as a "no-brainer." This suggests a growing consensus among experts that Haduvio could be effective in treating conditions beyond idiopathic pulmonary fibrosis-related chronic cough (IPF-CC) and RCC. The market appears to share this optimism, with InvestingPro data showing impressive returns of 134.3% over the past six months and 57.52% year-to-date, despite the company not yet being profitable.
In summary, the data presented by Trevi at the ATS conference has reinforced the positive outlook held by Raymond James on the company’s stock. The firm’s continued Strong Buy rating and $29.00 price target reflect the analyst’s confidence in Haduvio’s efficacy and its potential for expanded therapeutic use. InvestingPro subscribers can access comprehensive analysis of Trevi’s financial health (currently rated as GOOD), along with 10+ additional ProTips and detailed metrics that provide deeper insights into the company’s valuation and growth potential. Get access to the full Pro Research Report for Trevi and 1,400+ other stocks to make more informed investment decisions.
In other recent news, Trevi Therapeutics reported a narrower-than-expected loss per share for the first quarter of 2025, with an EPS of -$0.09, surpassing analyst expectations of -$0.13. The company managed to reduce its net loss to $10.4 million, down from $10.9 million in the same quarter last year, showcasing effective cost management. Research and development expenses decreased to $7.8 million from $8.8 million, while general and administrative expenses rose to $3.7 million from $3.1 million, reflecting strategic investments. Trevi Therapeutics highlighted progress in their trials, particularly in refractory chronic cough (RCC) and idiopathic pulmonary fibrosis (IPF), with the completion of the Phase 2b CORAL trial. The company is preparing for potential FDA engagement following the trial results. Analysts from firms like Leerink have shown interest in the trial outcomes, which Trevi plans to discuss in upcoming presentations. The company maintains a cash reserve of $103.3 million, providing financial runway into the fourth quarter of 2026.
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