Travere Therapeutics (NASDAQ:TVTX) Price Target Raised to $45.00

Travere Therapeutics (NASDAQ:TVTX) had its target price hoisted by Evercore ISI from $33.00 to $45.00 in a research report report published on Wednesday,Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

Several other equities analysts have also recently commented on the stock. Cantor Fitzgerald began coverage on shares of Travere Therapeutics in a research report on Friday, January 10th. They issued an “overweight” rating for the company. Canaccord Genuity Group lifted their price target on shares of Travere Therapeutics from $22.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday. Piper Sandler lifted their price objective on shares of Travere Therapeutics from $12.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Scotiabank lifted their price objective on shares of Travere Therapeutics from $23.00 to $27.00 and gave the company a “sector outperform” rating in a research note on Friday, November 1st. Finally, Wells Fargo & Company upgraded shares of Travere Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $9.00 to $27.00 in a research note on Monday, October 21st. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.77.

Travere Therapeutics Stock Performance

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. Travere Therapeutics has a 52 week low of $5.12 and a 52 week high of $25.29. The stock has a market capitalization of $1.79 billion, a PE ratio of -5.04 and a beta of 0.72. The firm has a 50 day moving average of $19.22 and a two-hundred day moving average of $16.10.

Insider Buying and Selling at Travere Therapeutics

In related news, CEO Eric M. Dube sold 10,736 shares of the company’s 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 completion of the transaction, the chief executive officer now owns 351,239 shares of the company’s stock, valued at approximately $6,835,110.94. This represents a 2.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Christopher R. Cline sold 5,192 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $20.12, for a total transaction of $104,463.04. Following the transaction, the chief financial officer now directly owns 90,038 shares of the company’s stock, valued at $1,811,564.56. This trade represents a 5.45 % 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 quarter. Corporate insiders own 3.75% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Rock Springs Capital Management LP boosted its stake in shares of Travere Therapeutics by 6.2% in the fourth quarter. Rock Springs Capital Management LP now owns 4,973,649 shares of the company’s stock valued at $86,641,000 after purchasing an additional 289,173 shares during the period. Renaissance Technologies LLC lifted its position in shares of Travere Therapeutics by 28.5% in the 4th quarter. Renaissance Technologies LLC now owns 2,409,514 shares of the company’s stock worth $41,974,000 after buying an additional 534,500 shares during the last quarter. Emerald Advisers LLC increased its holdings in shares of Travere Therapeutics by 8.4% in the 4th quarter. Emerald Advisers LLC now owns 2,125,744 shares of the company’s stock worth $37,030,000 after acquiring an additional 165,085 shares during the period. Geode Capital Management LLC increased its holdings in shares of Travere Therapeutics by 6.4% in the 4th quarter. Geode Capital Management LLC now owns 1,842,301 shares of the company’s stock worth $32,100,000 after acquiring an additional 111,256 shares during the period. Finally, Finepoint Capital LP increased its holdings in shares of Travere Therapeutics by 0.3% in the 3rd quarter. Finepoint Capital LP now owns 1,782,267 shares of the company’s stock worth $24,934,000 after acquiring an additional 5,539 shares during the period.

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.