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On Monday, Stifel analysts maintained a Buy rating and a $12.00 price target for Trevi Therapeutics (NASDAQ:TRVI), following the pharmaceutical company’s positive trial results. The stock has shown remarkable momentum, delivering a 51% return over the past year. According to InvestingPro data, analyst targets range from $7 to $21, with a strong Buy consensus rating of 1.33. Trevi’s Phase 2a RIVER Proof of Concept (PoC) trial for refractory chronic cough (RCC) demonstrated a 57% placebo-adjusted reduction in cough frequency across all trial participants. This outcome significantly surpassed the trial’s original goal of a 25% reduction and outperformed the 12-37% range typically seen in P2X3 antagonist programs.
The trial’s standout results were particularly noteworthy for the high (-75% placebo-adjusted) and moderate (-52% placebo-adjusted) frequency coughers. Trevi’s drug Haduvio showcased potential to treat a previously unserved patient population, distinguishing itself from competing treatments like GSK’s camlipixant. The company maintains a strong financial position, with InvestingPro analysis showing more cash than debt on its balance sheet and a healthy current ratio of 7.38x, indicating robust liquidity to support its drug development programs. Analysts highlighted Haduvio’s dual mechanism of action (MoA) as central and peripheral, which is well-suited for chronic cough conditions with neurological components, including RCC and idiopathic pulmonary fibrosis (IPF).
The encouraging outcomes from the RIVER trial have provided Trevi with additional opportunities for future development, although the company’s primary focus remains on IPF-associated chronic cough (IPF-CC). With the upcoming Phase 2 CANAL trial results expected in about 9 days, analysts are optimistic about the prospects for Trevi’s shares, anticipating a strong market response to the newfound potential of Haduvio. For deeper insights into Trevi’s valuation and growth potential, including 8 additional exclusive ProTips and comprehensive financial analysis, explore the full research report available on InvestingPro.
In other recent news, Trevi Therapeutics has reported significant developments concerning its drug Haduvio, aimed at treating refractory chronic cough (RCC). The company announced positive results from its Phase 2a RIVER trial, which demonstrated a 57% placebo-adjusted reduction in 24-hour cough frequency. This outcome positions Haduvio as a leading candidate in the RCC treatment market, especially after Merck (NSE:PROR)’s withdrawal of its FDA application for gefapixant. Analysts have responded positively, with Raymond (NSE:RYMD) James upgrading Trevi’s stock to Strong Buy and raising the price target to $29, citing Haduvio’s unique dual mechanism of action. Needham also increased its price target to $25, highlighting the drug’s potential to address a large U.S. patient population suffering from RCC. Meanwhile, Clear Street maintained a Buy rating with a price target of $11, noting the competitive advantage Haduvio holds over GSK’s camlipixant, which failed to meet primary endpoints in its Phase 2 trial. Stifel echoed the optimism by raising its price target to $12, emphasizing the strategic value of Haduvio in potentially expanding its use across a broader patient group. These developments underscore the growing interest in Trevi Therapeutics as it prepares for further trials and potential FDA discussions.
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