Brokerages Set Travere Therapeutics, Inc. (NASDAQ:TVTX) Price Target at $21.85

Travere Therapeutics, Inc. (NASDAQ:TVTX) has been assigned a consensus recommendation of “Moderate Buy” from the thirteen analysts that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $21.85.

A number of research analysts have recently commented on TVTX shares. Wedbush increased their price objective on Travere Therapeutics from $17.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Wells Fargo & Company upgraded Travere Therapeutics from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $9.00 to $27.00 in a report on Monday, October 21st. Citigroup reduced their price objective on shares of Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, September 27th. Leerink Partners reiterated an “outperform” rating and issued a $20.00 target price on shares of Travere Therapeutics in a research note on Tuesday, October 8th. Finally, Guggenheim lifted their target price on shares of Travere Therapeutics from $23.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th.

Insider Activity

In related news, CEO Eric M. Dube sold 21,125 shares of Travere Therapeutics stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $243,360.00. Following the sale, the chief executive officer now directly owns 361,975 shares of the company’s stock, valued at $4,169,952. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related 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 value of $589,200.00. Following the sale, the director now owns 51,000 shares of the company’s stock, valued at $751,230. The trade was 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. Also, CEO Eric M. Dube sold 21,125 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $243,360.00. Following the completion of the sale, the chief executive officer now owns 361,975 shares in the company, valued at $4,169,952. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 110,707 shares of company stock valued at $1,504,312. Insiders own 3.75% of the company’s stock.

Institutional Investors Weigh In On Travere Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in TVTX. EntryPoint Capital LLC bought a new position in Travere Therapeutics during the 1st quarter valued at about $32,000. CWM LLC increased its holdings in shares of 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 buying an additional 3,065 shares in the last quarter. DRW Securities LLC bought a new position in shares of Travere Therapeutics in the second quarter valued at approximately $95,000. Forefront Analytics LLC grew its position in Travere Therapeutics by 10.2% during the 2nd quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock worth $109,000 after acquiring an additional 1,237 shares during the last quarter. Finally, Sei Investments Co. acquired a new stake in Travere Therapeutics during the 2nd quarter valued at $117,000.

Travere Therapeutics Trading Down 1.5 %

Shares of NASDAQ TVTX opened at $18.75 on Friday. The business has a 50 day simple moving average of $15.79 and a 200 day simple moving average of $10.77. Travere Therapeutics has a 52 week low of $5.12 and a 52 week high of $20.33. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of -4.12 and a beta of 0.70. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71.

Travere Therapeutics (NASDAQ:TVTX) last posted its earnings results on Thursday, October 31st. The company reported ($0.70) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.01. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 537.74%. The firm had revenue of $62.90 million during the quarter, compared to analysts’ expectations of $60.87 million. During the same period in the previous year, the company earned ($1.17) earnings per share. The company’s revenue was up 69.6% compared to the same quarter last year. On average, research analysts predict that Travere Therapeutics will post -3.93 earnings per share for the current fiscal year.

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.