Guggenheim Raises Travere Therapeutics (NASDAQ:TVTX) Price Target to $41.00

Travere Therapeutics (NASDAQ:TVTX) had its price target lifted by stock analysts at Guggenheim from $23.00 to $41.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Guggenheim’s price target indicates a potential upside of 140.19% from the stock’s previous close.

Several other analysts also recently weighed in on the stock. Leerink Partners reiterated an “outperform” rating and issued a $20.00 price objective on shares of Travere Therapeutics in a research report on Tuesday. Piper Sandler boosted their price target on shares of Travere Therapeutics from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Citigroup dropped their price target on shares of Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, September 27th. Canaccord Genuity Group dropped their price target on shares of Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Finally, Wedbush boosted their price target on shares of Travere Therapeutics from $17.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Travere Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.58.

Travere Therapeutics Stock Performance

NASDAQ:TVTX traded up $1.86 during mid-day trading on Wednesday, hitting $17.07. The stock had a trading volume of 3,152,265 shares, compared to its average volume of 1,368,637. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of -8.13 and a beta of 0.73. The company has a 50 day simple moving average of $11.31 and a 200-day simple moving average of $8.78. Travere Therapeutics has a 52 week low of $5.12 and a 52 week high of $17.27. The company has a current ratio of 3.04, a quick ratio of 2.99 and a debt-to-equity ratio of 24.96.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($0.03). The firm had revenue of $54.12 million during the quarter, compared to the consensus estimate of $49.50 million. Travere Therapeutics had a negative net margin of 82.14% and a negative return on equity of 269.18%. On average, research analysts expect that Travere Therapeutics will post -3.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Travere Therapeutics news, SVP William E. Rote sold 4,387 shares of Travere Therapeutics stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $50,538.24. Following the completion of the sale, the senior vice president now directly owns 84,455 shares in the company, valued at $972,921.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Eric M. Dube sold 21,125 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $243,360.00. Following the completion of the sale, the chief executive officer now directly owns 361,975 shares of the company’s stock, valued at approximately $4,169,952. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP William E. Rote sold 4,387 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $50,538.24. Following the sale, the senior vice president now directly owns 84,455 shares of the company’s stock, valued at approximately $972,921.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 110,707 shares of company stock worth $1,504,312. 3.75% of the stock is owned by company insiders.

Institutional Trading of Travere Therapeutics

Several large investors have recently modified their holdings of TVTX. Birchview Capital LP raised its stake in shares of Travere Therapeutics by 48.8% in the 4th quarter. Birchview Capital LP now owns 122,000 shares of the company’s stock valued at $1,097,000 after buying an additional 40,000 shares in the last quarter. Parkman Healthcare Partners LLC boosted its stake in Travere Therapeutics by 76.4% during the 4th quarter. Parkman Healthcare Partners LLC now owns 1,018,812 shares of the company’s stock worth $9,159,000 after acquiring an additional 441,318 shares during the last quarter. Virtu Financial LLC bought a new position in Travere Therapeutics during the 4th quarter worth approximately $175,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Travere Therapeutics during the 4th quarter worth approximately $5,711,000. Finally, Los Angeles Capital Management LLC bought a new position in Travere Therapeutics during the 1st quarter worth approximately $720,000.

Travere Therapeutics Company Profile

Travere Therapeutics, Inc, a biopharmaceutical company, identifies, develops, and delivers therapies to people living with rare kidney and metabolic diseases. Its products include FILSPARI (sparsentan), a once-daily, oral medication designed to target two critical pathways in the disease progression of IgA Nephropathy (endothelin 1 and angiotensin-II); and Thiola and Thiola EC (tiopronin tablets) for the treatment of cystinuria, a rare genetic cystine transport disorder that causes high cystine levels in the urine and the formation of recurring kidney stones.