Analysts Set Travere Therapeutics, Inc. (NASDAQ:TVTX) Target Price at $28.50

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) have earned a consensus rating of “Moderate Buy” from the thirteen research firms that are currently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $28.50.

TVTX has been the topic of a number of recent research reports. Evercore ISI initiated coverage on Travere Therapeutics in a research report on Wednesday, September 6th. They set an “outperform” rating and a $30.00 target price on the stock. JPMorgan Chase & Co. assumed coverage on Travere Therapeutics in a report on Friday, July 21st. They set an “overweight” rating and a $26.00 price objective on the stock. Canaccord Genuity Group decreased their price objective on Travere Therapeutics from $37.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, July 18th. Piper Sandler decreased their price objective on Travere Therapeutics from $22.00 to $19.00 and set a “neutral” rating on the stock in a report on Friday, August 18th. Finally, HC Wainwright decreased their price objective on Travere Therapeutics from $35.00 to $32.00 and set a “buy” rating on the stock in a report on Monday, August 7th.

Insider Buying and Selling

In related news, SVP William E. Rote sold 1,815 shares of the stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $14.71, for a total transaction of $26,698.65. Following the sale, the senior vice president now owns 61,173 shares in the company, valued at approximately $899,854.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP William E. Rote sold 1,815 shares of the stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $14.71, for a total value of $26,698.65. Following the completion of the transaction, the senior vice president now owns 61,173 shares of the company’s stock, valued at approximately $899,854.83. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Eric M. Dube sold 4,455 shares of the firm’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $14.71, for a total transaction of $65,533.05. Following the transaction, the chief executive officer now directly owns 242,595 shares of the company’s stock, valued at approximately $3,568,572.45. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,727 shares of company stock worth $98,954. Corporate insiders own 4.71% of the company’s stock.

Hedge Funds Weigh In On Travere Therapeutics

Several large investors have recently modified their holdings of TVTX. Huntington National Bank raised its stake in shares of Travere Therapeutics by 57.8% during the second quarter. Huntington National Bank now owns 1,943 shares of the company’s stock valued at $30,000 after acquiring an additional 712 shares during the last quarter. US Bancorp DE raised its stake in Travere Therapeutics by 1,372.3% during the first quarter. US Bancorp DE now owns 1,487 shares of the company’s stock worth $38,000 after buying an additional 1,386 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Travere Therapeutics by 551.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,527 shares of the company’s stock worth $39,000 after buying an additional 2,139 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in Travere Therapeutics by 21.7% during the second quarter. Ameritas Investment Partners Inc. now owns 6,016 shares of the company’s stock worth $92,000 after buying an additional 1,074 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in Travere Therapeutics by 92.8% during the second quarter. Tower Research Capital LLC TRC now owns 6,053 shares of the company’s stock worth $93,000 after buying an additional 2,914 shares during the last quarter.

Travere Therapeutics Price Performance

Travere Therapeutics stock opened at $13.41 on Tuesday. The company has a debt-to-equity ratio of 3.23, a current ratio of 3.99 and a quick ratio of 3.86. Travere Therapeutics has a one year low of $12.57 and a one year high of $26.84. The company’s fifty day moving average price is $14.84 and its two-hundred day moving average price is $17.37.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings results on Thursday, August 3rd. The company reported ($1.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.16) by $0.03. Travere Therapeutics had a negative net margin of 136.00% and a negative return on equity of 273.80%. The company had revenue of $59.70 million during the quarter, compared to analysts’ expectations of $53.93 million. As a group, analysts anticipate that Travere Therapeutics will post -4.59 earnings per share for the current year.

About Travere Therapeutics

Travere Therapeutics, Inc, a biopharmaceutical company, focuses on the identification, development, commercialization, and delivering of therapies for the treatment of rare diseases. Its marketed products include Chenodal, a synthetic oral form of chenodeoxycholic acid for the treatment of radiolucent stones in gallbladders; Cholbam, a cholic acid capsule to treat pediatric and adult patients with bile acid synthesis disorders due to single enzyme defects, as well as for adjunctive treatment of patients with peroxisomal disorders; and Thiola and Thiola EC, a tiopronin tablet for the treatment of homozygous cystinuria.