Travere Therapeutics (NASDAQ:TVTX) Price Target Raised to $22.00

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

Other analysts have also recently issued research reports about the stock. Wells Fargo & Company raised 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. Wedbush raised their target price on shares of Travere Therapeutics from $17.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. HC Wainwright reduced their target price on shares of Travere Therapeutics from $23.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, September 27th. Leerink Partners reaffirmed an “outperform” rating and issued a $20.00 target price on shares of Travere Therapeutics in a report on Tuesday, October 8th. Finally, Citigroup reduced their target price on shares of Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating on the stock in a report on Friday, September 27th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Travere Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $22.62.

Travere Therapeutics Trading Down 4.1 %

NASDAQ TVTX opened at $17.72 on Thursday. The firm’s 50-day moving average is $16.27 and its two-hundred day moving average is $10.97. Travere Therapeutics has a 12 month low of $5.12 and a 12 month high of $20.33. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68. The stock has a market capitalization of $1.38 billion, a P/E ratio of -3.89 and a beta of 0.70.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.70) earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarterly revenue was up 69.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.17) earnings per share. On average, sell-side analysts anticipate that Travere Therapeutics will post -3.93 earnings per share for the current year.

Insider Activity

In other Travere Therapeutics news, CEO Eric M. Dube sold 21,125 shares of the business’s stock in a transaction 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 directly owns 361,975 shares in the company, valued at approximately $4,169,952. The trade was a 5.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $589,200.00. Following the sale, the director now owns 51,000 shares in the company, valued at $751,230. The trade was a 43.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 110,707 shares of company stock valued at $1,504,312 in the last ninety days. 3.75% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Travere Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Assenagon Asset Management S.A. boosted its position in shares of Travere Therapeutics by 912.5% in the 2nd 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. Russell Investments Group Ltd. lifted its holdings in Travere Therapeutics by 79.2% in the 1st quarter. Russell Investments Group Ltd. now owns 184,623 shares of the company’s stock valued at $1,423,000 after purchasing an additional 81,611 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in Travere Therapeutics by 202.6% in the 2nd quarter. Acadian Asset Management LLC now owns 144,901 shares of the company’s stock valued at $1,190,000 after purchasing an additional 97,020 shares in the last quarter. Millennium Management LLC increased its stake in shares of Travere Therapeutics by 33.9% during the 2nd quarter. Millennium Management LLC now owns 2,949,335 shares of the company’s stock valued at $24,244,000 after acquiring an additional 747,406 shares during the last quarter. Finally, Panagora Asset Management Inc. acquired a new position in shares of Travere Therapeutics during the 2nd quarter valued at about $747,000.

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.