Travere Therapeutics (NASDAQ:TVTX) Upgraded to “Overweight” at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Travere Therapeutics (NASDAQ:TVTX) from an equal weight rating to an overweight rating in a report published on Monday morning, Marketbeat Ratings reports. Wells Fargo & Company currently has $27.00 price objective on the stock, up from their previous price objective of $9.00.

A number of other brokerages have also commented on TVTX. Wedbush upped their price objective on Travere Therapeutics from $17.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Bank of America raised their price target on shares of Travere Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Barclays boosted their price objective on shares of Travere Therapeutics from $14.00 to $18.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Canaccord Genuity Group lowered their target price on shares of Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Finally, Citigroup reduced their price target on Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, September 27th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Travere Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $21.38.

Travere Therapeutics Stock Up 1.3 %

Shares of TVTX opened at $18.10 on Monday. The company’s 50-day moving average is $12.71 and its 200-day moving average is $9.35. The company has a debt-to-equity ratio of 24.96, a current ratio of 3.04 and a quick ratio of 2.99. Travere Therapeutics has a fifty-two week low of $5.12 and a fifty-two week high of $19.25.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings data 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). Travere Therapeutics had a negative return on equity of 269.18% and a negative net margin of 82.14%. The company had revenue of $54.12 million for the quarter, compared to analyst estimates of $49.50 million. As a group, equities research analysts anticipate that Travere Therapeutics will post -3.95 EPS for the current year.

Insider Activity

In other Travere Therapeutics news, SVP William E. Rote sold 4,387 shares of the business’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 $50,538.24. Following the sale, the senior vice president now directly owns 84,455 shares of the company’s stock, valued at $972,921.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Christopher R. Cline sold 2,490 shares of the firm’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 $28,684.80. Following the completion of the transaction, the chief financial officer now directly owns 74,595 shares of the company’s stock, valued at $859,334.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $50,538.24. Following the completion of the sale, the senior vice president now owns 84,455 shares in the company, valued at $972,921.60. This trade represents 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 over the last quarter. 3.75% of the stock is owned by company insiders.

Institutional Trading of Travere Therapeutics

Several institutional investors have recently added to or reduced their stakes in TVTX. Creative Planning boosted its stake in shares of Travere Therapeutics by 4.3% in the 3rd quarter. Creative Planning now owns 23,938 shares of the company’s stock valued at $335,000 after purchasing an additional 995 shares during the last quarter. Forefront Analytics LLC boosted its position 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 acquiring an additional 1,237 shares during the last quarter. ProShare Advisors LLC grew its holdings in Travere Therapeutics by 9.2% during the 1st quarter. ProShare Advisors LLC now owns 18,421 shares of the company’s stock worth $142,000 after acquiring an additional 1,557 shares during the period. Rice Hall James & Associates LLC raised its position in shares of Travere Therapeutics by 3.8% in the 2nd quarter. Rice Hall James & Associates LLC now owns 76,174 shares of the company’s stock worth $626,000 after acquiring an additional 2,774 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Travere Therapeutics by 10.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,009 shares of the company’s stock valued at $240,000 after purchasing an additional 2,948 shares during the period.

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.