Trevi Therapeutics

TRVI · NASDAQ

$12.83+$0.93 (+7.82%)TodayMarket closed · Oct 20, 7:46 PM ET

Prev close $11.90

TRVI analyst rating

BuyConsensus of 12 analysts over the last 12 months. 100% rate it a buy.

Strong buy0
Buy12
Hold0
Underperform0
Sell0

12-month price target · 14 analysts

Average $30.09 (+134.5% upside)

Low: $23.23
Now: $12.83
High: $42.00

Upgrades and downgrades

The latest rating actions, newest first

TRVI analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Jones Trading	Aug 14, 2026	Maintains	Buy	$24.00 → $28.00	53%
Oppenheimer	Aug 7, 2026	Maintains	Outperform	$24.00 → $25.00	45%
Cantor Fitzgerald	Aug 7, 2026	Maintains	Overweight	$25.00 → $30.00	49%
BMO Capital	Jul 21, 2026	Initiates	Outperform	$36.00	62%
B. Riley Securities	Jul 20, 2026	Maintains	Buy	$21.00 → $31.00	47%
HC Wainwright & Co.	Jul 20, 2026	Maintains	Buy	$21.00 → $24.00	36%
Needham	May 20, 2026	Maintains	Buy	$23.00	53%
HC Wainwright & Co.	May 6, 2026	Maintains	Buy	$21.00	36%
Needham	May 6, 2026	Maintains	Buy	$24.00 → $23.00	53%
D. Boral Capital	Apr 17, 2026	Maintains	Buy	$19.00	29%

The case for and against

Updated Oct 14, 2026

Bull case

Trevi Therapeutics is viewed favorably because management has consistently delivered on operational milestones, all cough programs remain on track, and investor focus has shifted from whether Haduvio works to execution and commercialization. The company’s lead asset has shown differentiated efficacy in Phase 2a RIVER, with a 57% placebo-adjusted reduction in objective 24-hour cough frequency and 77% of treated patients achieving at least a 50% reduction, supporting its potential as a first-in-class and best-in-class therapy across IPF chronic cough, non-IPF ILD, and RCC. Trevi also benefits from strong intellectual-property protection, limited competition after GSK’s exit from RCC, and cash runway into 2030, giving it a credible standalone path through its IPF Phase 3 program and further value-creating data readouts.

Bear case

Trevi Therapeutics is exposed to a market that has already shown how difficult it is to deliver durable, reproducible benefit in chronic cough, as GSK’s camlipixant succeeded in CALM-1 at Week 12 but failed to maintain statistical significance at Week 24 in CALM-2, with the 25 mg dose missing in both trials and key patient-reported endpoints also unmet. The withdrawal of a large competitor after concluding the efficacy would be unlikely to transform patient care suggests the space is highly fragile, and it raises the bar for Haduvio by underscoring that a single peripheral pathway may not overcome the heterogeneity of refractory chronic cough. As a clinical-stage biopharmaceutical company with no approved product and a one-segment business centered on Haduvio, Trevi faces concentrated development risk, limited diversification, and dependence on future trial success for value creation.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.