Travere Therapeutics (NASDAQ:TVTX) Price Target Raised to $31.00 at Bank of America

Travere Therapeutics (NASDAQ:TVTX) had its price target upped by Bank of America from $29.00 to $31.00 in a research report released on Tuesday,Benzinga reports. Bank of America currently has a buy rating on the stock.

A number of other research analysts have also recently commented on TVTX. HC Wainwright increased their target price on Travere Therapeutics from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Scotiabank increased their price objective on Travere Therapeutics from $27.00 to $32.00 and gave the company a “sector outperform” rating in a research report on Wednesday, February 12th. Cantor Fitzgerald restated an “overweight” rating on shares of Travere Therapeutics in a research report on Friday, February 21st. Citigroup increased their price target on shares of Travere Therapeutics from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, February 24th. Finally, 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, February 12th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.46.

Travere Therapeutics Stock Performance

NASDAQ:TVTX opened at $17.44 on Tuesday. The stock has a market cap of $1.55 billion, a P/E ratio of -4.25 and a beta of 0.75. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96. The business’s 50-day moving average price is $20.71 and its two-hundred day moving average price is $18.60. Travere Therapeutics has a twelve month low of $5.12 and a twelve month high of $25.29.

Travere Therapeutics (NASDAQ:TVTX) last announced its earnings results on Thursday, February 20th. The company reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $72.38 million. As a group, equities analysts predict that Travere Therapeutics will post -1.4 EPS for the current fiscal year.

Insider Activity at Travere Therapeutics

In other news, CAO Sandra Calvin sold 54,244 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $25.00, for a total transaction of $1,356,100.00. Following the transaction, the chief accounting officer now directly owns 54,410 shares of the company’s stock, valued at approximately $1,360,250. The trade was a 49.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP William E. Rote sold 2,437 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 value of $47,424.02. Following the transaction, the senior vice president now owns 83,170 shares of the company’s stock, valued at approximately $1,618,488.20. This represents a 2.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,335 shares of company stock worth $4,194,712 in the last three months. 3.75% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Rock Springs Capital Management LP boosted its stake in shares of Travere Therapeutics by 6.2% during the 4th 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 in the last quarter. Renaissance Technologies LLC boosted its position in Travere Therapeutics by 28.5% during the 4th quarter. Renaissance Technologies LLC now owns 2,409,514 shares of the company’s stock valued at $41,974,000 after acquiring an additional 534,500 shares in the last quarter. Driehaus Capital Management LLC boosted its position in Travere Therapeutics by 608.1% during the 4th quarter. Driehaus Capital Management LLC now owns 2,217,975 shares of the company’s stock valued at $38,637,000 after acquiring an additional 1,904,733 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings 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 worth $37,875,000 after acquiring an additional 583,836 shares during the period. Finally, Emerald Advisers LLC raised its position 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 in the last quarter.

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.