Travere Therapeutics (NASDAQ:TVTX) PT Raised to $25.00

Travere Therapeutics (NASDAQ:TVTX) had its target price increased by research analysts at Wedbush from $17.00 to $25.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Wedbush’s price target would indicate a potential upside of 50.06% from the stock’s current price.

A number of other equities research analysts also recently weighed in on TVTX. Guggenheim lowered their price target on Travere Therapeutics from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Friday, September 27th. JPMorgan Chase & Co. increased their price objective on Travere Therapeutics from $20.00 to $23.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Citigroup dropped their target price on Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, September 27th. Bank of America reduced their price target on shares of Travere Therapeutics from $19.00 to $18.00 and set a “buy” rating on the stock in a research report on Friday, September 27th. Finally, Canaccord Genuity Group lowered their price objective on shares of Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating for the company in a report on Monday, September 30th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.08.

Travere Therapeutics Stock Performance

TVTX traded up $1.45 on Wednesday, hitting $16.66. The company’s stock had a trading volume of 1,293,547 shares, compared to its average volume of 1,360,631. Travere Therapeutics has a 12 month low of $5.12 and a 12 month high of $16.70. The company’s 50 day simple moving average is $11.31 and its 200-day simple moving average is $8.78. The company has a quick ratio of 2.99, a current ratio of 3.04 and a debt-to-equity ratio of 24.96. The firm has a market cap of $1.27 billion, a P/E ratio of -7.93 and a beta of 0.73.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.90) EPS 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%. Analysts forecast that Travere Therapeutics will post -3.95 EPS for the current year.

Insider Activity at Travere Therapeutics

In other Travere Therapeutics news, CEO Eric M. Dube sold 21,125 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $11.52, for a total value of $243,360.00. Following the completion of the sale, the chief executive officer now owns 361,975 shares in the company, valued at approximately $4,169,952. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Gary A. Lyons sold 40,000 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $14.73, for a total transaction of $589,200.00. Following the sale, the director now owns 51,000 shares of the company’s stock, valued at $751,230. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Eric M. Dube sold 21,125 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 361,975 shares of the company’s stock, valued at $4,169,952. This represents a 0.00 % decrease in their position. 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 in the last 90 days. Company insiders own 3.75% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TVTX. CWM LLC increased its holdings in shares of Travere Therapeutics by 158.5% during the third quarter. CWM LLC now owns 4,999 shares of the company’s stock valued at $70,000 after acquiring an additional 3,065 shares in the last quarter. Diversified Trust Co bought a new stake in Travere Therapeutics during the 3rd quarter valued at about $161,000. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in 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 worth $5,055,000 after buying an additional 412,000 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Travere Therapeutics in the second quarter worth approximately $291,000. Finally, Forefront Analytics LLC grew its holdings in shares of Travere Therapeutics by 10.2% during the second quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock valued at $109,000 after buying an additional 1,237 shares during the last quarter.

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.