Oppenheimer Boosts Trevi Therapeutics (TRVI) PT to $23, Cites Positive Haduvio Trial Results

On Tuesday, Oppenheimer increased its price target for Trevi Therapeutics Inc. (NASDAQ:TRVI) to $23 from $20, while maintaining an Outperform rating. This heightened optimism is driven by positive results from Trevi’s Phase 2b study of Haduvio, which support its potential as a promising treatment for chronic cough associated with idiopathic pulmonary fibrosis/IPF.

Closeup of a biopharmaceutical worker holding a beaker of white liquid in a laboratory.

Currently, there are no approved therapeutic options for this condition, and previous candidates have not met expectations. Oppenheimer also highlighted that the active trial arms of the study showed a discontinuation rate similar to that of a placebo, which addresses a significant concern among investors. The company also recently reported positive data from the Phase 2A River trial in RCC patients, which achieved a statistically significant reduction in 24-hour objective cough frequency. The company also completed enrollment in the Phase 2b Choral trial for IPF chronic cough patients, with data anticipated this quarter.

Despite positive developments, Trevi acknowledges challenges in the IPF study due to its complexity and the diverse patient population spread across 60 sites in 10 countries. There is also uncertainty regarding the long-term patient safety monitoring protocols for the Phase 3 trial. Trevi Therapeutics Inc. (NASDAQ:TRVI) is a clinical-stage biopharmaceutical company that develops and commercializes investigational therapy for the treatment of chronic cough in patients with IPF) and non-IPF interstitial lung disease, and refractory chronic cough.

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Disclosure: None. This article is originally published at Insider Monkey.