Citigroup Issues Positive Forecast for Travere Therapeutics (NASDAQ:TVTX) Stock Price

Travere Therapeutics (NASDAQ:TVTX) had its price target upped by Citigroup from $31.00 to $35.00 in a report issued on Monday,Benzinga reports. Citigroup currently has a buy rating on the stock.

Other analysts have also recently issued reports about the company. Barclays boosted their price objective on Travere Therapeutics from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Canaccord Genuity Group increased their price objective on shares of Travere Therapeutics from $22.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Piper Sandler lifted their price target on Travere Therapeutics from $12.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Evercore ISI upped their price target on Travere Therapeutics from $33.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Travere Therapeutics in a report on Friday. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Travere Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $29.00.

Travere Therapeutics Stock Down 3.4 %

Shares of NASDAQ TVTX opened at $21.23 on Monday. Travere Therapeutics has a 12-month low of $5.12 and a 12-month high of $25.29. The stock’s fifty day simple moving average is $19.75 and its two-hundred day simple moving average is $16.77. The stock has a market capitalization of $1.66 billion, a PE ratio of -5.18 and a beta of 0.72. 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 (NASDAQ:TVTX) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.15). Travere Therapeutics had a negative net margin of 137.90% and a negative return on equity of 1,636.87%. The company had revenue of $74.79 million for the quarter, compared to analyst estimates of $72.38 million. As a group, analysts expect that Travere Therapeutics will post -1.4 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Peter Heerma sold 1,584 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $18.94, for a total value of $30,000.96. Following the completion of the sale, the insider now directly owns 106,374 shares of the company’s stock, valued at $2,014,723.56. This trade represents a 1.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Christopher R. Cline sold 5,192 shares of Travere Therapeutics stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $20.12, for a total value of $104,463.04. Following the completion of the sale, the chief financial officer now owns 90,038 shares in the company, valued at approximately $1,811,564.56. This trade represents a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 206,335 shares of company stock valued at $4,453,012 over the last three months. 3.75% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Driehaus Capital Management LLC grew its stake in shares of Travere Therapeutics by 608.1% during the 4th quarter. Driehaus Capital Management LLC now owns 2,217,975 shares of the company’s stock worth $38,637,000 after purchasing an additional 1,904,733 shares during the period. BNP Paribas Financial Markets purchased a new stake in Travere Therapeutics during the fourth quarter worth about $21,075,000. RA Capital Management L.P. acquired a new position in Travere Therapeutics during the fourth quarter worth about $20,033,000. Jennison Associates LLC purchased a new position in Travere Therapeutics in the fourth quarter valued at about $14,222,000. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of Travere Therapeutics by 36.7% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,174,213 shares of the company’s stock valued at $37,875,000 after acquiring an additional 583,836 shares during the period.

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.