UPDATE: Oppenheimer Starts Trevi Therapeutics (TRVI) at Outperform

Oppenheimer analyst Leland Gershall initiates coverage on Trevi Therapeutics (NASDAQ: TRVI) with a Outperform rating and a price target of $10.00.

The analyst comments "We initiate coverage of Trevi Therapeutics (TRVI) with an Outperform rating and $10 price target. Following recent positive interim Phase 2 data, we are keen on the prospects of oral candidate Haduvio to address chronic cough associated with idiopathic pulmonary fibrosis (IPF)—a highly disabling and distressing feature which lacks effective therapy. We also have enthusiasm for its prospects to treat severe chronic itch, an oft-recalcitrant manifestation of a variety of conditions—including prurigo nodularis, for which top-line Phase 2b/3 data will be reported next month. Prior US/EU approval of Haduvio's active ingredient provides safety and regulatory comfort, and operating cash is ample for next steps in both programs. We forecast total peak sales of $750M-plus for Haduvio, with our $10 PT based on DCF."

For an analyst ratings summary and ratings history on Trevi Therapeutics click here. For more ratings news on Trevi Therapeutics click here.

Shares of Trevi Therapeutics closed at $2.25 yesterday.

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