Trevi Therapeutics (TRVI) PT Raised to $12 at Stifel

Stifel analyst Annabel Samimy raised the price target on Trevi Therapeutics (NASDAQ: TRVI) to $12.00 (from $8.00) while maintaining a Buy rating.

The analyst commented, "We are rapidly approaching the read-out of TRVI’s Ph.2a RIVER PoC of Haduvio (mixed opioid) in RCC—a study designed to assess activity across a moderate–severe cough spectrum owing to its peripheral AND central activity. With broad activity already established in IPF-CC (an indication where no other treatment has been effective), we think prospects for a positive outcome are high. That said, its future development considering TRVI’s priority on maintaining IPFCC value will depend on the level of efficacy observed and whether Haduvio’s activity can be established in a moderate population, where P2X3 antagonists have proven ineffective. Within, we detail several possible scenarios and potential valuation implications for TRVI shares. While Haduvio has potential to serve as the singular product for one of the most debilitating symptoms of IPF-CC, RCC could offer its second blockbuster opportunity—notably increasing strategic interest. We raise our TP to $12, signaling our positive outlook."

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