Trevi Therapeutics price target raised to $23 from $20 at Oppenheimer

Oppenheimer raised the firm’s price target on Trevi Therapeutics (TRVI) to $23 from $20 and keeps an Outperform rating on the shares. The company’s positive topline Phase 2b announcement builds a strong case for Haduvio to broadly address idiopathic pulmonary fibrosis chronic cough, in which no options are approved and candidates elsewhere have disappointed, the analyst tells investors in a research note. The firm says the placebo-like discontinuation rate across the active arms should resolve a key investor concern. Today’s selloff “reflects small-cap biotech trading dynamics that have become all too familiar in the current market environment,” contends Oppenheimer.