Trevi Therapeutics (TRVI) PT Raised to $12 at Oppenheimer
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Oppenheimer analyst Leland Gershall raised the price target on Trevi Therapeutics (NASDAQ: TRVI) to $12.00 (from $10.00) while maintaining an Outperform rating.
The analyst commented, "Yesterday's positive top-line results from the Phase 2b/3 PRISM trial in prurigo nodularis (PN) demonstrate Haduvio's ability to address many with this chronic condition (300,000 in the US alone) that lacks approved therapies. We believe Haduvio's oral convenience and tolerability position it favorably to competing candidates in development. Early and consistent benefit across assessments of itch, quality-of-life, and skin lesions gives us comfort on remaining development steps. With investors focused on Haduvio's opportunity to relieve IPF chronic cough (we model $350M+ US sales potential) since February's impressive interim Phase 2 data, yesterday's announcement solidifies prospects for a second, distinct indication that we believe could be worth $400M+ in the US. We reiterate Outperform and raise our PT to $12 (from $10)."
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