In a report released yesterday, Faisal Khurshid from Leerink Partners reiterated a Buy rating on Trevi Therapeutics (TRVI – Research Report), with a price target of $11.00.
Faisal Khurshid has given his Buy rating due to a combination of factors including the promising data from Trevi Therapeutics’ Phase 2a RIVER trial for Haduvio in treating refractory chronic cough. The stock has seen a significant increase, reflecting investor optimism. The positive trial results have shifted the focus towards the future potential of the drug, particularly in terms of its commercial opportunities in both IPF cough and RCC markets.
Khushid also highlights the potential for Haduvio to achieve substantial market success, with management confident in securing premium pricing for RCC treatment. Even with conservative pricing assumptions, the drug could still represent a blockbuster opportunity. Additionally, the intellectual property protection for Haduvio, extending to 2039, further supports the long-term investment thesis. These factors collectively underpin the Buy rating for Trevi Therapeutics.
In another report released yesterday, JonesTrading also reiterated a Buy rating on the stock with a $27.00 price target.