Oppenheimer Raises Price Target for Trevi Therapeutics by $3

Oppenheimer maintained its Outperform rating on Trevi Therapeutics, Inc. (NASDAQ:TRVI) shares and lifted the price target from $20 to $23.

The price objective for Trevi Therapeutics was increased by $3 at Oppenheimer

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

In a research note, the analyst informs investors that Haduvio’s favorable topline Phase 2b news strengthens the company’s case for addressing idiopathic pulmonary fibrosis persistent cough, for which no approved choices exist, and candidates elsewhere have let them down.

According to the company, a major investor concern should be allayed by the active arms’ placebo-like discontinuation rate.

Today’s selloff “reflects small-cap biotech trading dynamics that have become all too familiar in the current market environment,” Oppenheimer stated.

Trevi Therapeutics, Inc. (NASDAQ:TRVI) is a clinical-stage biopharmaceutical company that specializes in the development and commercialization of the investigational therapy Haduvio (oral nalbuphine ER) for the treatment of prurigo nodularis and chronic cough in adults with idiopathic pulmonary fibrosis, or IPF, and other chronic cough indications. Haduvio is nalbuphine’s oral extended-release formulation.

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