Travere Therapeutics, Inc. (NASDAQ:TVTX) Receives $38.86 Average Price Target from Brokerages

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) have earned a consensus recommendation of “Moderate Buy” from the sixteen analysts that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and twelve have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $38.8571.

TVTX has been the subject of several research reports. TD Cowen reaffirmed a “buy” rating on shares of Travere Therapeutics in a research note on Friday, October 31st. Piper Sandler boosted their target price on Travere Therapeutics from $26.00 to $35.00 and gave the stock a “neutral” rating in a report on Tuesday, November 4th. Wall Street Zen raised Travere Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Saturday, December 13th. Zacks Research downgraded Travere Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. Finally, Guggenheim restated a “buy” rating and issued a $49.00 target price on shares of Travere Therapeutics in a report on Wednesday, January 14th.

Travere Therapeutics Trading Down 7.0%

Shares of TVTX opened at $29.47 on Tuesday. Travere Therapeutics has a 52-week low of $12.91 and a 52-week high of $42.13. The company has a quick ratio of 2.71, a current ratio of 2.75 and a debt-to-equity ratio of 4.23. The firm’s fifty day moving average is $33.88 and its two-hundred day moving average is $27.80. The stock has a market cap of $2.64 billion, a PE ratio of -27.80, a price-to-earnings-growth ratio of 0.88 and a beta of 0.83.

Insider Activity

In related news, CFO Christopher R. Cline sold 20,000 shares of the firm’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $35.01, for a total transaction of $700,200.00. Following the completion of the sale, the chief financial officer directly owned 92,083 shares in the company, valued at approximately $3,223,825.83. This trade represents a 17.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider William E. Rote sold 60,000 shares of Travere Therapeutics stock in a transaction dated Wednesday, December 24th. The stock was sold at an average price of $40.10, for a total transaction of $2,406,000.00. Following the transaction, the insider directly owned 101,443 shares in the company, valued at $4,067,864.30. This trade represents a 37.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 331,925 shares of company stock worth $11,318,755. Insiders own 4.19% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TVTX. Raymond James Financial Inc. acquired a new position in shares of Travere Therapeutics in the 2nd quarter valued at $33,000. First Horizon Corp purchased a new stake in Travere Therapeutics in the 3rd quarter valued at about $36,000. Torren Management LLC acquired a new position in Travere Therapeutics in the fourth quarter valued at about $38,000. Comerica Bank boosted its stake in Travere Therapeutics by 77.5% during the fourth quarter. Comerica Bank now owns 1,127 shares of the company’s stock worth $43,000 after buying an additional 492 shares during the period. Finally, Garner Asset Management Corp acquired a new stake in shares of Travere Therapeutics during the fourth quarter valued at about $69,000.

About Travere Therapeutics

Travere Therapeutics, Inc (NASDAQ: TVTX) is a biopharmaceutical company headquartered in San Diego, California, dedicated to the development and commercialization of therapies for rare kidney and genetic disorders. The company’s mission is to address unmet needs in conditions with limited treatment options by focusing on diseases that affect small patient populations. Travere combines research, development and commercial capabilities to bring innovative medicines to market.

The company’s lead product is sparsentan, a dual endothelin angiotensin receptor antagonist that has received accelerated approval from the U.S.