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On Wednesday, Stifel analysts maintained a Buy rating on Trevi Therapeutics (NASDAQ:TRVI) shares, with a steady price target of $15.00. According to InvestingPro data, analysts’ price targets for TRVI range from $11 to $29, with a strong consensus recommendation of 1.22, indicating robust bullish sentiment. The firm’s stance follows the release of promising data from the Phase 2 Proof of Concept (PoC) RIVER trial for Haduvio in Renal Cell Carcinoma (RCC). The positive outcome of this trial has bolstered confidence ahead of the upcoming Phase 2b CORAL readout in Idiopathic Pulmonary Fibrosis-associated Chronic Cough (IPF-CC), which is anticipated in the second quarter of 2025.
Stifel’s endorsement is further supported by a successful Sequential Parallel Comparison Design (SSRE) analysis of the CORAL study, suggesting that the trial has adequate power to achieve statistical significance. The market has responded positively to these developments, with InvestingPro data showing an impressive 59.22% year-to-date return and an 87.43% gain over the past six months. The analysts highlight Haduvio’s clinical profile, which shows both central and peripheral Central Nervous System (CNS) activity, distinguishing it from P2X3 antagonists that have been either discontinued or proven effective only in severe RCC cases.
Trevi Therapeutics is currently concentrating its efforts on IPF-CC as its primary program, while reserving RCC development for the most treatment-resistant patients. This strategic focus is intended to maximize the use of the company’s $107.6 million cash reserves, which are projected to sustain operations into the second half of 2026. The company’s strong financial position is reflected in its exceptional current ratio of 10.41 and overall Financial Health Score of "GOOD" according to InvestingPro, which offers comprehensive analysis through its Pro Research Reports covering over 1,400 US stocks.
According to Stifel, the positive clinical developments present Trevi Therapeutics with significant flexibility in its operations. The company is poised to explore the broader potential of Haduvio, potentially attracting strategic partnerships for further expansion of its applications. With minimal debt and strong liquidity, Trevi appears well-positioned to execute its strategic initiatives.
In other recent news, Trevi Therapeutics announced its fourth-quarter 2024 financial results, revealing a net loss of $11.4 million, an increase from $7.8 million in the same period the previous year. The company’s earnings per share (EPS) of -0.11 slightly surpassed the forecasted -0.12. This minor positive deviation from expectations was noted by analysts. Significant investments in research and development, particularly for Haduvio, were highlighted, with R&D expenses rising to $9.3 million from $6.5 million in the fourth quarter of 2023.
In related developments, H.C. Wainwright maintained a Buy rating and a $12.50 price target on Trevi Therapeutics, citing promising results from the Haduvio RIVER Phase 2a study for refractory chronic cough. The firm also noted the importance of the CORAL Phase 2b trial, which is set to release topline data in the second quarter of 2025. Analysts emphasized the trial’s design and the potential of Haduvio, with the study powered to detect a smaller effect size than previous studies.
Additionally, Trevi’s cash position remains robust, with $107.6 million in cash and equivalents, supported by a $50 million offering completed in December. The company’s cash runway is secured into the second half of 2026, providing financial stability for ongoing and future trials. The CORAL study’s sample size re-estimation analysis recommended no study up-sizing, suggesting confidence in the trial’s design. Trevi Therapeutics remains focused on advancing Haduvio, with plans for pivotal discussions with the FDA and further data presentations at upcoming conferences.
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