Trevi Therapeutics upgraded to Strong Buy from Outperform at Raymond James

Raymond James upgraded Trevi Therapeutics (TRVI) to Strong Buy from Outperform with a price target of $29, up from $9, after Haduvio delivered “the best clinical efficacy signal on cough reduction to date” in the Phase 2a RIVER readout in refractory chronic cough. The 57% placebo-adjusted reduction in 24-hour cough at Day 21 was not only “convincingly higher than the bogey” set by GSK‘s (GSK) camlipixant in Phase 2b, but also numerically higher than the signal in Haduvio’s Phase 2a trial, the analyst tells investors.