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

Travere Therapeutics (NASDAQ:TVTX) had its target price upped by research analysts at Scotiabank from $23.00 to $27.00 in a report released on Friday, Benzinga reports. The firm currently has a “sector outperform” rating on the stock. Scotiabank’s target price suggests a potential upside of 53.67% from the stock’s current price.

Several other equities research analysts also recently issued reports on the company. Bank of America lifted their price objective on Travere Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Guggenheim lifted their price objective on Travere Therapeutics from $23.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. lifted their price objective on Travere Therapeutics from $20.00 to $23.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Citigroup dropped their price objective on Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating on the stock in a report on Friday, September 27th. Finally, Barclays lifted their price objective on Travere Therapeutics from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $21.85.

Travere Therapeutics Stock Performance

Travere Therapeutics stock opened at $17.57 on Friday. The stock’s 50 day moving average price is $14.53 and its 200 day moving average price is $10.09. The firm has a market capitalization of $1.34 billion, a PE ratio of -3.86 and a beta of 0.70. 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 posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.70) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.71) by $0.01. Travere Therapeutics had a negative return on equity of 360.96% and a negative net margin of 172.75%. The company had revenue of $62.90 million for the quarter, compared to the consensus estimate of $60.87 million. During the same period in the previous year, the business earned ($1.17) EPS. Travere Therapeutics’s revenue for the quarter was up 69.6% compared to the same quarter last year. As a group, sell-side analysts expect that Travere Therapeutics will post -3.95 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Eric M. Dube sold 21,125 shares of the company’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 $243,360.00. Following the completion of the transaction, the chief executive officer now directly owns 361,975 shares in the company, valued at $4,169,952. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Travere Therapeutics news, Director Gary A. Lyons sold 40,000 shares of the business’s stock in a transaction on Friday, October 4th. The stock was 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 owns 51,000 shares in the company, valued at approximately $751,230. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Eric M. Dube sold 21,125 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now owns 361,975 shares of the company’s stock, valued at $4,169,952. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 110,707 shares of company stock worth $1,504,312 in the last three months. 3.75% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Travere Therapeutics by 13.6% during the 1st quarter. Vanguard Group Inc. now owns 6,265,829 shares of the company’s stock worth $48,310,000 after acquiring an additional 750,686 shares during the period. Millennium Management LLC boosted its position in Travere Therapeutics by 33.9% during the 2nd quarter. Millennium Management LLC now owns 2,949,335 shares of the company’s stock worth $24,244,000 after acquiring an additional 747,406 shares during the period. Assenagon Asset Management S.A. boosted its position in Travere Therapeutics by 912.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,214,099 shares of the company’s stock worth $18,200,000 after acquiring an additional 1,995,419 shares during the period. Emerald Advisers LLC boosted its position in Travere Therapeutics by 19.8% during the 3rd quarter. Emerald Advisers LLC now owns 1,960,659 shares of the company’s stock worth $27,430,000 after acquiring an additional 323,513 shares during the period. Finally, Emerald Mutual Fund Advisers Trust boosted its position in Travere Therapeutics by 26.0% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 1,185,709 shares of the company’s stock worth $16,588,000 after acquiring an additional 244,444 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.