Travere Therapeutics (NASDAQ:TVTX) Price Target Raised to $44.00

Travere Therapeutics (NASDAQ:TVTX) had its price objective increased by JPMorgan Chase & Co. from $42.00 to $44.00 in a research note released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts have also weighed in on TVTX. Cantor Fitzgerald reiterated an “overweight” rating on shares of Travere Therapeutics in a research note on Friday, February 21st. Canaccord Genuity Group boosted their target price on shares of Travere Therapeutics from $22.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Barclays boosted their target price on shares of Travere Therapeutics from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Evercore ISI boosted their price target on shares of Travere Therapeutics from $33.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Finally, Citigroup boosted their price target on shares of Travere Therapeutics from $31.00 to $35.00 and gave the company a “buy” rating in a report on Monday, February 24th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $30.62.

Travere Therapeutics Stock Up 3.7 %

Shares of NASDAQ:TVTX opened at $21.40 on Wednesday. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. The company has a fifty day simple moving average of $20.05 and a 200 day simple moving average of $17.00. The firm has a market cap of $1.67 billion, a PE ratio of -5.22 and a beta of 0.72. Travere Therapeutics has a 12-month low of $5.12 and a 12-month high of $25.29.

Travere Therapeutics (NASDAQ:TVTX) last released its earnings results on Thursday, February 20th. The company reported ($0.73) earnings per share 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 business had revenue of $74.79 million for the quarter, compared to the consensus estimate of $72.38 million. On average, equities research analysts anticipate that Travere Therapeutics will post -1.4 EPS for the current fiscal year.

Insider Activity

In other news, CFO Christopher R. Cline sold 5,192 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was 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 $1,811,564.56. This represents a 5.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP William E. Rote sold 2,437 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $19.46, for a total value of $47,424.02. Following the transaction, the senior vice president now directly owns 83,170 shares of the company’s stock, valued at $1,618,488.20. This represents a 2.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 206,335 shares of company stock worth $4,453,012 over the last three months. Corporate insiders own 4.06% of the company’s stock.

Hedge Funds Weigh In On Travere Therapeutics

Large investors have recently made changes to their positions in the business. GF Fund Management CO. LTD. acquired a new stake in Travere Therapeutics during the fourth quarter valued at approximately $31,000. Sterling Capital Management LLC lifted its stake in Travere Therapeutics by 859.8% during the fourth quarter. Sterling Capital Management LLC now owns 2,361 shares of the company’s stock valued at $41,000 after purchasing an additional 2,115 shares during the last quarter. R Squared Ltd acquired a new stake in Travere Therapeutics during the fourth quarter valued at approximately $53,000. Gen Wealth Partners Inc acquired a new stake in Travere Therapeutics during the fourth quarter valued at approximately $73,000. Finally, Quarry LP acquired a new stake in Travere Therapeutics during the third quarter valued at approximately $105,000.

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.