Travere Therapeutics (NASDAQ:TVTX) Price Target Raised to $32.00

Travere Therapeutics (NASDAQ:TVTX) had its target price increased by Scotiabank from $27.00 to $32.00 in a research note released on Wednesday morning,Benzinga reports. They currently have a sector outperform rating on the stock.

TVTX has been the subject of several other research reports. Barclays lifted their price target on Travere Therapeutics from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Canaccord Genuity Group lifted their price target on Travere Therapeutics from $22.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday. Cantor Fitzgerald started coverage on Travere Therapeutics in a research note on Friday, January 10th. They set an “overweight” rating for the company. Evercore ISI lifted their price target on Travere Therapeutics from $33.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Wells Fargo & Company raised Travere Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $9.00 to $27.00 in a research note on Monday, October 21st. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Travere Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $27.77.

Travere Therapeutics Trading Down 3.4 %

Shares of TVTX stock opened at $22.91 on Wednesday. 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 business has a 50-day moving average price of $19.22 and a two-hundred day moving average price of $16.10. Travere Therapeutics has a 12-month low of $5.12 and a 12-month high of $25.29. The firm has a market cap of $1.79 billion, a P/E ratio of -5.04 and a beta of 0.72.

Insider Buying and Selling at Travere Therapeutics

In other Travere Therapeutics news, SVP William E. Rote sold 5,200 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $23.53, for a total transaction of $122,356.00. Following the completion of the transaction, the senior vice president now owns 98,519 shares of the company’s stock, valued at $2,318,152.07. This represents a 5.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Sandra Calvin sold 54,244 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $25.00, for a total value of $1,356,100.00. Following the transaction, the chief accounting officer now directly owns 54,410 shares of the company’s stock, valued at $1,360,250. The trade was a 49.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 218,425 shares of company stock valued at $4,674,259 in the last 90 days. Insiders own 3.75% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. RA Capital Management L.P. purchased a new position in shares of Travere Therapeutics during the 4th quarter worth approximately $20,033,000. Freestone Grove Partners LP bought a new position in Travere Therapeutics during the 4th quarter valued at approximately $445,000. AQR Capital Management LLC increased its position in Travere Therapeutics by 117.8% during the 4th quarter. AQR Capital Management LLC now owns 424,024 shares of the company’s stock valued at $7,386,000 after buying an additional 229,361 shares in the last quarter. Northern Trust Corp increased its position in Travere Therapeutics by 11.3% during the 4th quarter. Northern Trust Corp now owns 754,395 shares of the company’s stock valued at $13,142,000 after buying an additional 76,358 shares in the last quarter. Finally, Tudor Investment Corp ET AL increased its position in Travere Therapeutics by 13.3% during the 4th quarter. Tudor Investment Corp ET AL now owns 43,213 shares of the company’s stock valued at $753,000 after buying an additional 5,069 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.