Brokerages Set Travere Therapeutics, Inc. (NASDAQ:TVTX) Price Target at $30.62

Travere Therapeutics, Inc. (NASDAQ:TVTX) has been assigned a consensus rating of “Moderate Buy” from the fourteen research firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $30.62.

A number of research analysts have issued reports on the company. Citigroup boosted their price target on Travere Therapeutics from $31.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, February 24th. Canaccord Genuity Group boosted their price target on Travere Therapeutics from $22.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Evercore ISI boosted their price target on Travere Therapeutics from $33.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. HC Wainwright upped their price objective on Travere Therapeutics from $18.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. Finally, JPMorgan Chase & Co. upped their price objective on Travere Therapeutics from $42.00 to $44.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th.

Insider Activity at Travere Therapeutics

In related news, SVP William E. Rote sold 5,200 shares of the company’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $23.53, for a total transaction of $122,356.00. Following the transaction, the senior vice president now directly owns 98,519 shares of the company’s stock, valued at approximately $2,318,152.07. The trade was a 5.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sandra Calvin sold 15,000 shares of the company’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $17.22, for a total value of $258,300.00. Following the transaction, the chief accounting officer now directly owns 54,927 shares in the company, valued at $945,842.94. The trade was a 21.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 206,335 shares of company stock valued at $4,453,012. Company insiders own 3.75% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Aigen Investment Management LP acquired a new position in Travere Therapeutics in the 3rd quarter worth about $170,000. Oppenheimer & Co. Inc. acquired a new position in Travere Therapeutics in the 3rd quarter worth about $673,000. Connor Clark & Lunn Investment Management Ltd. increased its position in Travere Therapeutics by 11.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 525,381 shares of the company’s stock worth $7,350,000 after purchasing an additional 52,985 shares during the last quarter. Intech Investment Management LLC acquired a new position in Travere Therapeutics in the 3rd quarter worth about $283,000. Finally, The Manufacturers Life Insurance Company increased its position in Travere Therapeutics by 61.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 47,045 shares of the company’s stock worth $658,000 after purchasing an additional 17,931 shares during the last quarter.

Travere Therapeutics Trading Up 4.3 %

Shares of TVTX stock opened at $20.70 on Friday. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71. Travere Therapeutics has a 1 year low of $5.12 and a 1 year high of $25.29. The stock has a fifty day moving average of $20.42 and a two-hundred day moving average of $18.01. The firm has a market capitalization of $1.84 billion, a PE ratio of -5.05 and a beta of 0.75.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.15). Travere Therapeutics had a negative return on equity of 1,636.87% and a negative net margin of 137.90%. The business had revenue of $74.79 million for the quarter, compared to analyst estimates of $72.38 million. As a group, research analysts expect that Travere Therapeutics will post -1.4 EPS for the current year.

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.