Travere Therapeutics (NASDAQ:TVTX) Stock Price Expected to Rise, Barclays Analyst Says

Travere Therapeutics (NASDAQ:TVTX) had its price target increased by equities researchers at Barclays from $18.00 to $20.00 in a research note issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price would suggest a potential upside of 13.83% from the stock’s previous close.

A number of other equities research analysts have also issued reports on TVTX. Citigroup dropped their target price on shares of Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating for the company in a report on Friday, September 27th. Wells Fargo & Company raised shares of Travere Therapeutics from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $9.00 to $27.00 in a report on Monday, October 21st. JPMorgan Chase & Co. upped their target price on shares of Travere Therapeutics from $20.00 to $23.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Canaccord Genuity Group dropped their target price 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. Finally, Wedbush upped their target price on shares of Travere Therapeutics from $17.00 to $25.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $21.85.

Travere Therapeutics Price Performance

Shares of NASDAQ TVTX opened at $17.57 on Friday. The firm has a market cap of $1.34 billion, a PE ratio of -3.86 and a beta of 0.70. The firm has a fifty day moving average of $14.53 and a 200 day moving average of $10.09. The company has a debt-to-equity ratio of 24.96, a quick ratio of 2.99 and a current ratio of 3.04. Travere Therapeutics has a one year low of $5.12 and a one year high of $19.25.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.70) EPS for the quarter, topping the consensus estimate of ($0.71) by $0.01. The company had revenue of $62.90 million during the quarter, compared to analyst estimates of $60.87 million. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 360.96%. The firm’s revenue was up 69.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.17) EPS. As a group, research analysts predict that Travere Therapeutics will post -3.95 EPS for the current fiscal year.

Insider Buying and Selling at Travere Therapeutics

In other Travere Therapeutics news, Director Gary A. Lyons sold 40,000 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $14.73, for a total value of $589,200.00. Following the transaction, the director now owns 51,000 shares of the company’s stock, valued at $751,230. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Travere Therapeutics 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 transaction, 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 filing with the SEC, which is available through this link. Also, Director Gary A. Lyons sold 40,000 shares of the company’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 completion of the transaction, the director now directly owns 51,000 shares in the company, valued at $751,230. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 110,707 shares of company stock valued at $1,504,312 over the last 90 days. 3.75% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. EntryPoint Capital LLC acquired a new position in Travere Therapeutics in the first quarter valued at about $32,000. CWM LLC increased its stake in Travere Therapeutics by 158.5% during the third quarter. CWM LLC now owns 4,999 shares of the company’s stock worth $70,000 after purchasing an additional 3,065 shares during the period. DRW Securities LLC purchased a new stake in Travere Therapeutics during the second quarter worth about $95,000. Forefront Analytics LLC increased 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 worth $109,000 after purchasing an additional 1,237 shares during the period. Finally, Sei Investments Co. purchased a new stake in Travere Therapeutics during the second quarter worth about $117,000.

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.