Bank of America Raises Travere Therapeutics (NASDAQ:TVTX) Price Target to $20.00

Travere Therapeutics (NASDAQ:TVTX) had its price target raised by Bank of America from $18.00 to $20.00 in a research report report published on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other analysts also recently weighed in on TVTX. Leerink Partners reaffirmed an outperform rating and set a $20.00 target price on shares of Travere Therapeutics in a research note on Tuesday. Wedbush upped their price objective on shares of Travere Therapeutics from $17.00 to $25.00 and gave the stock an outperform rating in a report on Wednesday. Canaccord Genuity Group lowered their target price on shares of Travere Therapeutics from $23.00 to $22.00 and set a buy rating on the stock in a research note on Monday, September 30th. HC Wainwright reduced their price target on shares of Travere Therapeutics from $23.00 to $18.00 and set a buy rating for the company in a research note on Friday, September 27th. Finally, Piper Sandler raised their price objective on shares of Travere Therapeutics from $11.00 to $12.00 and gave the company a neutral rating in a research note on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Travere Therapeutics presently has a consensus rating of Moderate Buy and a consensus price target of $19.75.

Travere Therapeutics Price Performance

Shares of NASDAQ:TVTX opened at $16.41 on Wednesday. The company has a market cap of $1.26 billion, a PE ratio of -8.73 and a beta of 0.73. Travere Therapeutics has a fifty-two week low of $5.12 and a fifty-two week high of $18.60. The firm has a 50-day simple moving average of $11.78 and a 200 day simple moving average of $8.96. The company has a quick ratio of 2.99, a current ratio of 3.04 and a debt-to-equity ratio of 24.96.

Travere Therapeutics (NASDAQ:TVTX) last issued its 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). Travere Therapeutics had a negative return on equity of 269.18% and a negative net margin of 82.14%. The company had revenue of $54.12 million during the quarter, compared to analyst estimates of $49.50 million. On average, sell-side analysts anticipate that Travere Therapeutics will post -3.95 EPS for the current year.

Insider Buying and Selling at Travere Therapeutics

In other news, SVP William E. Rote sold 4,387 shares of Travere Therapeutics stock in a transaction on Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $50,538.24. Following the transaction, the senior vice president now owns 84,455 shares in the company, valued at approximately $972,921.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Jula Inrig sold 2,191 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $11.52, for a total value of $25,240.32. Following the completion of the sale, the insider now owns 62,633 shares of the company’s stock, valued at approximately $721,532.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP William E. Rote sold 4,387 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $50,538.24. Following the transaction, the senior vice president now directly owns 84,455 shares in the company, valued at approximately $972,921.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 110,707 shares of company stock valued at $1,504,312 in the last three months. 3.75% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. EntryPoint Capital LLC acquired a new stake in shares of Travere Therapeutics in the 1st quarter valued at $32,000. CWM LLC increased its position in Travere Therapeutics by 158.5% during the third quarter. CWM LLC now owns 4,999 shares of the company’s stock worth $70,000 after buying an additional 3,065 shares during the last quarter. Diversified Trust Co bought a new position in Travere Therapeutics during the third quarter valued at about $161,000. DRW Securities LLC acquired a new stake in Travere Therapeutics in the 2nd quarter worth approximately $95,000. Finally, Forefront Analytics LLC lifted its stake in shares of 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 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.