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On Tuesday, Stifel analysts reiterated a Buy rating for Trevi Therapeutics stock (NASDAQ: NASDAQ:TRVI) and maintained their price target of $15.00. This aligns with the broader analyst consensus, which remains highly bullish, with price targets ranging from $13 to $29. The rating follows the company’s announcement of positive results from the Phase 2b CORAL study of Haduvio, a treatment for chronic cough associated with idiopathic pulmonary fibrosis (IPF-CC).
The study revealed that Haduvio achieved dose-dependent, clinically relevant, and statistically significant outcomes on both primary and secondary measures. By the second week of treatment, patients experienced rapid and persistent reductions in cough frequency, with two-thirds of participants reporting a reduction of 50% or more in cough frequency, exceeding the clinically relevant threshold for this population. The market has responded positively to these developments, with the stock delivering an impressive 147% return over the past year.
Haduvio’s efficacy was further supported by patient-reported outcomes on cough severity, underscoring the treatment’s potential benefit. The drug’s differentiated mechanism, which acts both centrally and peripherally, sets it apart as no other investigational compound has addressed this component of IPF.
With these promising results, Trevi Therapeutics is preparing for an End-of-Phase 2 meeting with the FDA, anticipated in the second half of 2025. The success of the IPF-CC study lays the groundwork for a broader cough indication for Haduvio.
In other recent news, Trevi Therapeutics announced positive results from its Phase 2b CORAL trial, evaluating Haduvio for treating chronic cough in idiopathic pulmonary fibrosis (IPF) patients. The trial met its primary endpoint, showing significant reductions in cough frequency across all tested doses, with the most notable reduction in the 108 mg BID dose group. Analysts from Raymond (NSE:RYMD) James reiterated a Strong Buy rating on Trevi Therapeutics, setting a price target of $29.00, following these promising trial results. Oppenheimer analysts also raised the stock price target to $23 from $20, maintaining an Outperform rating, highlighting the potential $1.5 billion revenue opportunity in the U.S. for Haduvio.
Additionally, Trevi Therapeutics launched a $100 million public stock offering, managed by Morgan Stanley (NYSE:MS), Leerink Partners, Stifel, and Cantor. The offering includes a 30-day option for underwriters to purchase an additional $15 million in shares. This move comes as the company plans to advance Haduvio into a Phase 3 program, aiming to address the unmet medical need for chronic cough treatments in IPF patients. Trevi’s ongoing developments are being closely monitored by investors and analysts alike, given the significant market potential.
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