Travere Therapeutics (NASDAQ:TVTX) Price Target Raised to $18.00 at Barclays

Travere Therapeutics (NASDAQ:TVTX) had its price objective lifted by equities researchers at Barclays from $14.00 to $18.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price target would suggest a potential upside of 29.78% from the company’s current price.

TVTX has been the topic of a number of other research reports. Guggenheim reduced their target price on Travere Therapeutics from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Friday, September 27th. HC Wainwright reduced their target price on Travere Therapeutics from $23.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, September 27th. Piper Sandler increased their target price on Travere Therapeutics from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Bank of America reduced their target price on Travere Therapeutics from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, September 27th. Finally, JPMorgan Chase & Co. raised their price objective on Travere Therapeutics from $20.00 to $23.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $17.09.

Travere Therapeutics Trading Down 0.9 %

Travere Therapeutics stock opened at $13.87 on Tuesday. The stock has a market cap of $1.06 billion, a P/E ratio of -6.60 and a beta of 0.73. Travere Therapeutics has a fifty-two week low of $5.12 and a fifty-two week high of $15.36. The firm’s fifty day moving average price is $10.91 and its 200-day moving average price is $8.58. The company has a debt-to-equity ratio of 24.96, a quick ratio of 2.99 and a current ratio of 3.04.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($0.03). The firm had revenue of $54.12 million during the quarter, compared to the consensus estimate of $49.50 million. Travere Therapeutics had a negative return on equity of 269.18% and a negative net margin of 82.14%. Equities research analysts forecast that Travere Therapeutics will post -3.95 earnings per share for the current fiscal year.

Insider Transactions at Travere Therapeutics

In other news, Director Jeffrey A. Meckler sold 40,000 shares of the stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $14.06, for a total transaction of $562,400.00. Following the completion of the sale, the director now directly owns 81,000 shares in the company, valued at $1,138,860. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Eric M. Dube sold 21,125 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $243,360.00. Following the completion of the sale, the chief executive officer now directly owns 361,975 shares in the company, valued at $4,169,952. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jeffrey A. Meckler sold 40,000 shares of the stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $14.06, for a total transaction of $562,400.00. Following the sale, the director now owns 81,000 shares of the company’s stock, valued at $1,138,860. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 70,707 shares of company stock worth $915,112. Company insiders own 3.75% of the company’s stock.

Institutional Trading of Travere Therapeutics

Institutional investors have recently modified their holdings of the company. Forefront Analytics LLC lifted its holdings in Travere Therapeutics by 10.2% in the second quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock worth $109,000 after buying an additional 1,237 shares during the period. ProShare Advisors LLC lifted its holdings in Travere Therapeutics by 9.2% in the first quarter. ProShare Advisors LLC now owns 18,421 shares of the company’s stock worth $142,000 after buying an additional 1,557 shares during the period. Rice Hall James & Associates LLC lifted its holdings in Travere Therapeutics by 3.8% in the second quarter. Rice Hall James & Associates LLC now owns 76,174 shares of the company’s stock worth $626,000 after buying an additional 2,774 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Travere Therapeutics by 10.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 31,009 shares of the company’s stock worth $240,000 after buying an additional 2,948 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Travere Therapeutics by 8.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,178 shares of the company’s stock worth $387,000 after buying an additional 3,754 shares during the period.

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.