Trevi Therapeutics selloff on data unwarranted, says H.C. Wainwright

H.C. Wainwright says Trevi Therapeutics (TRVI) reported positive topline results of the expected oral nalbuphine human abuse potential study. The results confirm the relatively low abuse potential of nalbuphine and Trevi’s Haduvio for chronic cough in idiopathic pulmonary fibrosis and refractory chronic cough, the analyst tells investors in a research note. H.C. Wainwright’s bullish view on Haduvio is unchanged and it believes yesterday’s share selloff was unwarranted. The stock reacted negatively as some investors fixate on nalbuphine showing some drug-liking, but “that misses the forest for the trees,” the firm contends. It reiterates a Buy rating on Trevi with a $6 price target