Travere Therapeutics (NASDAQ:TVTX) PT Raised to $20.00 at Bank of America

Travere Therapeutics (NASDAQ:TVTX) had its target price raised by research analysts at Bank of America from $18.00 to $20.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s target price would indicate a potential upside of 16.82% from the stock’s current price.

A number of other analysts have also issued reports on the company. Piper Sandler boosted their target price on Travere Therapeutics from $11.00 to $12.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. HC Wainwright lowered their price objective on Travere Therapeutics from $23.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, September 27th. Guggenheim raised their price objective on shares of Travere Therapeutics from $23.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday. Leerink Partners reiterated an “outperform” rating and set a $20.00 target price on shares of Travere Therapeutics in a research note on Tuesday. Finally, Wedbush raised their price objective on shares of Travere Therapeutics from $17.00 to $25.00 and gave the stock an “outperform” rating in a report on Wednesday. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.75.

Travere Therapeutics Stock Performance

Shares of TVTX stock traded up $1.91 on Wednesday, hitting $17.12. The company had a trading volume of 3,876,824 shares, compared to its average volume of 1,373,879. The company has a quick ratio of 2.99, a current ratio of 3.04 and a debt-to-equity ratio of 24.96. Travere Therapeutics has a twelve month low of $5.12 and a twelve month high of $17.38. The company has a 50-day moving average price of $11.31 and a 200-day moving average price of $8.78. The firm has a market cap of $1.30 billion, a P/E ratio of -8.24 and a beta of 0.73.

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

Insider Activity at Travere Therapeutics

In other Travere Therapeutics news, SVP William E. Rote sold 4,387 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $50,538.24. Following the transaction, the senior vice president now directly owns 84,455 shares in the company, valued at approximately $972,921.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Jeffrey A. Meckler sold 40,000 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $14.06, for a total transaction of $562,400.00. Following the sale, the director now owns 81,000 shares in the company, valued at $1,138,860. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP William E. Rote sold 4,387 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $50,538.24. Following the transaction, the senior vice president now owns 84,455 shares in the company, valued at approximately $972,921.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 110,707 shares of company stock worth $1,504,312 over the last three months. 3.75% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Travere Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. CWM LLC boosted its position in shares of Travere Therapeutics by 158.5% in the third quarter. CWM LLC now owns 4,999 shares of the company’s stock worth $70,000 after buying an additional 3,065 shares during the period. Diversified Trust Co purchased a new stake in shares of Travere Therapeutics during the third quarter valued at approximately $161,000. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Travere Therapeutics by 203.0% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 615,000 shares of the company’s stock valued at $5,055,000 after purchasing an additional 412,000 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in Travere Therapeutics in the 2nd quarter valued at about $291,000. Finally, Forefront Analytics LLC boosted its holdings in Travere Therapeutics by 10.2% in the second quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock valued at $109,000 after purchasing an additional 1,237 shares during the last quarter.

About Travere Therapeutics

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.