Travere Therapeutics (NASDAQ:TVTX) Now Covered by Scotiabank

Stock analysts at Scotiabank initiated coverage on shares of Travere Therapeutics (NASDAQ:TVTX) in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. The firm set a “sector outperform” rating and a $23.00 price target on the stock. Scotiabank’s target price indicates a potential upside of 26.03% from the stock’s current price.

Several other analysts have also weighed in on TVTX. JPMorgan Chase & Co. boosted their price objective on Travere Therapeutics from $20.00 to $23.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Wedbush upped their price target on Travere Therapeutics from $17.00 to $25.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. HC Wainwright lowered their target price on shares of Travere Therapeutics from $23.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, September 27th. Leerink Partners reissued an “outperform” rating and set a $20.00 target price on shares of Travere Therapeutics in a report on Tuesday, October 8th. Finally, Guggenheim lifted their price target on shares of Travere Therapeutics from $23.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $20.00.

Travere Therapeutics Trading Up 1.1 %

TVTX stock opened at $18.25 on Wednesday. The company has a debt-to-equity ratio of 24.96, a current ratio of 3.04 and a quick ratio of 2.99. The firm has a 50 day simple moving average of $12.52 and a 200-day simple moving average of $9.25. Travere Therapeutics has a twelve month low of $5.12 and a twelve month high of $18.82.

Travere Therapeutics (NASDAQ:TVTX) last announced 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 company had revenue of $54.12 million for the quarter, compared to analyst estimates of $49.50 million. Travere Therapeutics had a negative return on equity of 269.18% and a negative net margin of 82.14%. As a group, sell-side analysts expect that Travere Therapeutics will post -3.95 EPS for the current year.

Insider Buying and Selling at Travere Therapeutics

In other Travere Therapeutics news, Director Gary A. Lyons sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $14.73, for a total value of $589,200.00. Following the sale, the director now owns 51,000 shares in the company, valued at approximately $751,230. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Eric M. Dube sold 21,125 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 value of $243,360.00. Following the completion of the sale, the chief executive officer now owns 361,975 shares of the company’s stock, valued at $4,169,952. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Gary A. Lyons sold 40,000 shares of the firm’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 transaction, the director now directly owns 51,000 shares in the company, valued at approximately $751,230. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 110,707 shares of company stock valued at $1,504,312 in the last ninety days. Company insiders own 4.06% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. EntryPoint Capital LLC bought a new stake in Travere Therapeutics during the first quarter worth approximately $32,000. CWM LLC raised its stake in shares of Travere Therapeutics by 158.5% in the 3rd quarter. CWM LLC now owns 4,999 shares of the company’s stock worth $70,000 after buying an additional 3,065 shares in the last quarter. Diversified Trust Co acquired a new stake in shares of Travere Therapeutics in the third quarter valued at $161,000. DRW Securities LLC acquired a new stake in shares of Travere Therapeutics in the second quarter valued at $95,000. Finally, Forefront Analytics LLC boosted its stake in 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 in 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.