Piper Sandler Increases Travere Therapeutics (NASDAQ:TVTX) Price Target to $22.00

Travere Therapeutics (NASDAQ:TVTX) had its price objective raised by stock analysts at Piper Sandler from $12.00 to $22.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price target would suggest a potential upside of 24.15% from the stock’s previous close.

A number of other research analysts also recently weighed in on the stock. Bank of America increased their price objective on shares of Travere Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Leerink Partners reiterated an “outperform” rating and issued a $20.00 price target on shares of Travere Therapeutics in a research report on Tuesday, October 8th. Wedbush increased their price target on shares of Travere Therapeutics from $17.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. Wells Fargo & Company upgraded shares of Travere Therapeutics from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $9.00 to $27.00 in a research report on Monday, October 21st. Finally, Guggenheim increased their price target on shares of Travere Therapeutics from $23.00 to $41.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Travere Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.62.

Travere Therapeutics Stock Performance

Shares of NASDAQ:TVTX opened at $17.72 on Thursday. The company has a market cap of $1.38 billion, a price-to-earnings ratio of -3.89 and a beta of 0.70. The company has a 50-day moving average price of $16.27 and a 200-day moving average price of $10.97. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. Travere Therapeutics has a 12 month low of $5.12 and a 12 month high of $20.33.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.70) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.01. The business had revenue of $62.90 million for the quarter, compared to analysts’ expectations of $60.87 million. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 537.74%. The business’s revenue was up 69.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.17) earnings per share. As a group, equities analysts anticipate that Travere Therapeutics will post -3.93 EPS for the current year.

Insider Buying and Selling at Travere Therapeutics

In other Travere Therapeutics news, CEO Eric M. Dube sold 21,125 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $243,360.00. Following the sale, the chief executive officer now owns 361,975 shares of the company’s stock, valued at approximately $4,169,952. The trade was a 5.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gary A. Lyons sold 40,000 shares of Travere Therapeutics stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $14.73, for a total transaction of $589,200.00. Following the sale, the director now owns 51,000 shares of the company’s stock, valued at approximately $751,230. The trade was a 43.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 110,707 shares of company stock valued at $1,504,312. Company insiders own 3.75% of the company’s stock.

Institutional Trading of Travere Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of TVTX. Vanguard Group Inc. lifted its stake in shares of Travere Therapeutics by 13.6% in the 1st quarter. Vanguard Group Inc. now owns 6,265,829 shares of the company’s stock valued at $48,310,000 after purchasing an additional 750,686 shares during the period. Millennium Management LLC raised its position in Travere Therapeutics by 33.9% during the second 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. grew its holdings in shares of Travere Therapeutics by 912.5% during the second quarter. Assenagon Asset Management S.A. now owns 2,214,099 shares of the company’s stock worth $18,200,000 after buying an additional 1,995,419 shares in the last quarter. Emerald Advisers LLC grew its holdings in shares of Travere Therapeutics by 19.8% during the third quarter. Emerald Advisers LLC now owns 1,960,659 shares of the company’s stock worth $27,430,000 after buying an additional 323,513 shares in the last quarter. Finally, Finepoint Capital LP grew its holdings in shares of Travere Therapeutics by 0.3% during the third quarter. Finepoint Capital LP now owns 1,782,267 shares of the company’s stock worth $24,934,000 after buying an additional 5,539 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.