Travere Therapeutics (NASDAQ:TVTX) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Travere Therapeutics (NASDAQ:TVTX) had its price target lifted by investment analysts at Canaccord Genuity Group from $22.00 to $45.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 89.71% from the stock’s previous close.

A number of other equities analysts also recently issued reports on TVTX. Barclays raised their price objective on shares of Travere Therapeutics from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Scotiabank raised their price objective on shares of Travere Therapeutics from $23.00 to $27.00 and gave the stock a “sector outperform” rating in a report on Friday, November 1st. Piper Sandler raised their price objective on shares of Travere Therapeutics from $12.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Wells Fargo & Company raised shares of Travere Therapeutics from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $9.00 to $27.00 in a report on Monday, October 21st. Finally, HC Wainwright raised their price objective on shares of Travere Therapeutics from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Travere Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $27.77.

Travere Therapeutics Stock Performance

Shares of NASDAQ TVTX opened at $23.72 on Wednesday. The firm’s 50-day moving average price is $19.14 and its 200-day moving average price is $16.01. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96. The company has a market cap of $1.85 billion, a PE ratio of -5.21 and a beta of 0.72. Travere Therapeutics has a 52-week low of $5.12 and a 52-week high of $25.29.

Insider Buying and Selling at Travere Therapeutics

In other news, CEO Eric M. Dube sold 10,736 shares of Travere Therapeutics stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $19.46, for a total transaction of $208,922.56. Following the sale, the chief executive officer now owns 351,239 shares in the company, valued at $6,835,110.94. This trade represents a 2.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Sandra Calvin sold 12,090 shares of Travere Therapeutics stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $18.30, for a total transaction of $221,247.00. Following the sale, the chief accounting officer now owns 54,927 shares in the company, valued at approximately $1,005,164.10. The trade was a 18.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 218,425 shares of company stock valued at $4,674,259 over the last 90 days. 3.75% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Travere Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. CANADA LIFE ASSURANCE Co raised its position in shares of Travere Therapeutics by 237.8% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 23,318 shares of the company’s stock valued at $406,000 after buying an additional 16,416 shares during the last quarter. XTX Topco Ltd raised its position in shares of Travere Therapeutics by 105.1% during the fourth quarter. XTX Topco Ltd now owns 29,133 shares of the company’s stock valued at $507,000 after buying an additional 14,928 shares during the last quarter. Barclays PLC increased its position in Travere Therapeutics by 135.0% in the fourth quarter. Barclays PLC now owns 396,570 shares of the company’s stock worth $6,908,000 after purchasing an additional 227,802 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in Travere Therapeutics by 9.2% during the fourth quarter. Ameritas Investment Partners Inc. now owns 7,905 shares of the company’s stock valued at $138,000 after purchasing an additional 667 shares in the last quarter. Finally, Sterling Capital Management LLC raised its stake in Travere Therapeutics by 859.8% during the fourth quarter. Sterling Capital Management LLC now owns 2,361 shares of the company’s stock valued at $41,000 after purchasing an additional 2,115 shares in 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.