Trevi Therapeutics (TRVI) PT Raised to $10 at Needham & Company on Haduvio Data, "Valuation Discounts Potential"
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Needham & Company analyst Serge Belanger raised the price target on Trevi Therapeutics (NASDAQ: TRVI) to $10.00 (from $8.00) while maintaining a Buy rating, on the company's report of Haduvio Phase 2b/3 data.
The analyst comments: "TRVI's Ph 2b/3 trial (PRISM) evaluating Haduvio (nalbuphine ER) as a treatment for prurigo nodularis (PN) successfully met the key primary and secondary endpoints. Haduvio had a quick onset of action reaching stat sig at 6-weeks with efficacy that had yet to plateau at the wk-14 readout. Haduvio's safety/tolerability was consistent with prior trials where incidences of nausea, dizziness, headache led to study discontinuations, the bulk of which occurred in the two-wk titration period. TRVI plans to meet with FDA prior to initiating a second pivotal study. This is the second program de-risking trial readout for Haduvio in 1H22. We continue to believe TRVI's valuation discounts Haduvio's potential in both IPF cough and PN. We maintain our Buy rating, and adjust our $PT to $10 (from $8) to reflect additional de-risking of the PN program."
By Vlad Schepkov
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Related EntitiesNeedham & Company, FDA, Vlad Schepkov
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