Trevi Therapeutics, Inc. (NASDAQ:TRVI) shares are trading higher after the company announced the pricing of its $150 million offering of 11.6 million shares at $13 per share.

Trevi To Raise $150 Million After Selling Shares

Early-session momentum across high-beta names is also showing up in the broader movers list, where Blaize Holdings jumped 24.3% to $2.15 premarket after a contract of up to $50 million, and that kind of tape can keep speculative bid under TRVI as traders rotate into volatility. That cross-market tone is captured in pre-market trading following a string of outsized gainers.

The Friday push comes as the company announced the pricing of its $150 million offering of 11.6 million shares at $13 per share. The sale will help Trevi with its operating expenses and capital expenditure requirements through 2029. In an SEC filing, Trevi said it expects these cash resources will enable it to fund its development program for Haduvio for the treatment of chronic cough in patients with idiopathic pulmonary fibrosis including its two planned Phase 3 trials, potentially through U.S. Food and Drug Administration approval.

Trevi also expects that these cash resources will enable it to fund and report topline data from its planned Phase 2b clinical trial and potentially a subsequent Phase 3 clinical trial for the treatment of patients with non-IPF interstitial lung disease ("non-IPF ILD")-related chronic cough, and its planned Phase 2b trial for the treatment of patients with refractory chronic cough ("RCC").

Trevi Trades Above Moving Averages

Trevi is pressing into fresh 52-week highs after a strong multi-month uptrend, which keeps the longer-term chart tilted toward buyers. The stock is trading 24.1% above its 20-day simple moving average (SMA) and 28.7% above its 100-day SMA, a setup that points to strong short- and intermediate-term trend control.

The relative strength index (RSI), a momentum gauge, is 73.62, which lines up with overbought conditions and can raise the odds of choppier trading. RSI at 73.62 shows buyers have been in control lately, but it also means momentum is stretched versus recent history.

Over the last 12 months, the stock is up 152.22%, which matches the idea that the market has been repricing the story higher over time. With price now above the prior 52-week high of $14.75, the chart is in "blue-sky" territory where traders often lean on moving averages for reference points.

  • Key Resistance: $15.50 — a nearby round-number area where upside attempts can pause.
  • Key Support: $12.50 — near the 20-day zone where dip-buyers have recently shown up.

Trevi Outperforms Sector Peers

Trevi is outperforming the Healthcare sector today by about 2.98 percentage points, rising faster than XLV's 1.49% gain. Healthcare ranks 4 out of 11 sectors (mid-tier), so the stock's move stands out even though the group isn't leading the market.

Zooming out, Healthcare is up 1.20% over the last 30 days but down 4.18% over the last 90 days, which frames the group as choppy rather than steadily trending. That backdrop makes Trevi's relative strength more notable, because it's advancing on a day when leadership is coming more from Consumer Discretionary and Industrials.

Earnings & Analyst Outlook

Looking further out, the next major catalyst for the stock arrives with the May 7, 2026 (estimated) earnings report.

  • EPS Estimate: Loss of 7 cents (Up from loss of 9 cents YoY)
  • Revenue Estimate: N/A (Prior: $0.00 million YoY)
  • Valuation: P/E ratio not meaningful (company is expected to post a loss)

Analyst Consensus & Recent Actions: The stock carries a Buy rating with an average price target of $20.56 (high: $24.00; low: $16.00; 14 analysts). Recent analyst moves include:

  • Jones Trading: Buy (Lowers Target to $24.00) (March 19)
  • Morgan Stanley: Overweight (Lowers Target to $18.00) (March 18)
  • D. Boral Capital: Buy (Maintains Target to $19.00) (March 18)

Shares Lift On Friday

TRVI Stock Price Activity: Trevi Therapeutics shares were up 5.85% at $15.39 at the time of publication on Friday, according to Benzinga Pro data.

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