Travere Therapeutics (NASDAQ:TVTX) Given New $45.00 Price Target at Canaccord Genuity Group

Travere Therapeutics (NASDAQ:TVTX) had its price objective upped by Canaccord Genuity Group from $22.00 to $45.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research firms have also weighed in on TVTX. Barclays increased their price target on Travere Therapeutics from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Scotiabank lifted their target price on shares of Travere Therapeutics from $23.00 to $27.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 1st. HC Wainwright raised their price target on Travere Therapeutics from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Wells Fargo & Company upgraded Travere Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $9.00 to $27.00 in a report on Monday, October 21st. Finally, Cantor Fitzgerald assumed coverage on Travere Therapeutics in a report on Friday, January 10th. They issued an “overweight” rating on the stock. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Travere Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $27.77.

Travere Therapeutics Stock Performance

Shares of NASDAQ:TVTX opened at $23.20 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 stock has a fifty day moving average of $19.06 and a 200-day moving average of $15.95. Travere Therapeutics has a one year low of $5.12 and a one year high of $25.29.

Insiders Place Their Bets

In other news, SVP William E. Rote sold 5,200 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $23.53, for a total value of $122,356.00. Following the sale, the senior vice president now directly owns 98,519 shares of the company’s stock, valued at approximately $2,318,152.07. This trade represents a 5.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Sandra Calvin sold 12,090 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $18.30, for a total value of $221,247.00. Following the transaction, the chief accounting officer now directly owns 54,927 shares of the company’s stock, valued at $1,005,164.10. This represents a 18.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 218,425 shares of company stock valued at $4,674,259 over the last 90 days. 3.75% of the stock is currently owned by company insiders.

Institutional Trading of Travere Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TVTX. Creative Planning lifted its holdings in shares of Travere Therapeutics by 4.3% during the third quarter. Creative Planning now owns 23,938 shares of the company’s stock worth $335,000 after buying an additional 995 shares during the last quarter. Rhumbline Advisers increased its position in Travere Therapeutics by 2.2% during the fourth quarter. Rhumbline Advisers now owns 121,248 shares of the company’s stock worth $2,112,000 after acquiring an additional 2,640 shares during the period. Arizona State Retirement System increased its position in Travere Therapeutics by 13.5% during the fourth quarter. Arizona State Retirement System now owns 22,396 shares of the company’s stock worth $390,000 after acquiring an additional 2,666 shares during the period. R Squared Ltd acquired a new position in Travere Therapeutics during the 4th quarter valued at $53,000. Finally, CWM LLC boosted its holdings in Travere Therapeutics by 158.5% in the 3rd quarter. CWM LLC now owns 4,999 shares of the company’s stock valued at $70,000 after purchasing an additional 3,065 shares during the period.

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.