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    Trevi Therapeutics (TRVI) Valuation Check After 200% YTD Rally and IPF Cough Hopes

    Simply Wall St·12/08/2025 08:10:28
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    Trevi Therapeutics (TRVI) has quietly turned into one of the market’s bigger biotech gainers this year, with the stock up sharply over the past 3 months as traders reassess its pipeline potential.

    See our latest analysis for Trevi Therapeutics.

    Zooming out, that surge fits into a powerful run, with Trevi’s year to date share price return above 200 percent and a one year total shareholder return above 400 percent, suggesting momentum is still building as investors re-rate its IPF cough opportunity.

    If Trevi’s rally has you rethinking what could move next in healthcare, it might be worth scanning other potential winners via healthcare stocks.

    With Trevi still lossmaking but trading at a steep discount to analyst targets, the key question now is whether today’s price underestimates Haduvio’s potential, or whether the market is already discounting years of future growth.

    Price-to-Book of 9.1x: Is it justified?

    On a price-to-book basis, Trevi’s 9.1x multiple, versus a last close of $13.47, points to a rich valuation rather than a bargain story.

    The price-to-book ratio compares a company’s market value to its net assets, a common yardstick for early stage biopharma where profits and revenue are still years away.

    For Trevi, paying 9.1 times book value while the company is unprofitable and forecast to remain so suggests investors are front loading expectations for Haduvio’s commercial success. That optimism also looks stretched when set against the broader US pharmaceuticals industry, where the average price-to-book is just 2.6 times. This highlights how far Trevi’s valuation has already run ahead of sector norms.

    See what the numbers say about this price — find out in our valuation breakdown.

    Result: Price-to-book of 9.1x (OVERVALUED)

    However, setbacks in Haduvio’s trials or delays securing regulatory approval could quickly puncture sentiment and challenge the bullish long term growth narrative.

    Find out about the key risks to this Trevi Therapeutics narrative.

    Build Your Own Trevi Therapeutics Narrative

    If you would rather dig into the numbers yourself and challenge this view, you can build a custom Trevi story in minutes, Do it your way.

    A great starting point for your Trevi Therapeutics research is our analysis highlighting 3 important warning signs that could impact your investment decision.

    Looking for more investment ideas?

    Before Trevi’s story moves to its next chapter, you can seek an edge by lining up fresh opportunities from pre screened stock ideas built to match your strategy.

    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.