Leerink Partners analyst Faisal Khurshid reiterated a Buy rating on Trevi Therapeutics (TRVI – Research Report) on May 8 and set a price target of $11.00.
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Faisal Khurshid’s rating is based on the anticipation of key data releases and regulatory milestones for Trevi Therapeutics. The upcoming Phase 2b CORAL data in IPF cough, expected in June, is seen as a significant value inflection point for the stock. The positive sample size re-estimation and previous successful Phase 2a CANAL data provide confidence in the potential outcomes of the CORAL study, which is designed to achieve a substantial reduction in cough count.
Additionally, the management’s strategic plans for regulatory interactions and future clinical trials are promising. They include a Type C meeting to discuss RCC data and align on next steps, as well as an end-of-Phase-2 meeting following the CORAL data to strategize pivotal studies. The planned initiation of a Phase 2b trial in RCC and a Phase 3 program in IPF cough further supports the potential for future growth and development, reinforcing the Buy rating.
In another report released on May 9, Stifel Nicolaus also maintained a Buy rating on the stock with a $15.00 price target.
Based on the recent corporate insider activity of 24 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TRVI in relation to earlier this year.