Travere Therapeutics (NASDAQ:TVTX) Price Target Raised to $75.00

Travere Therapeutics (NASDAQ:TVTX) had its price target raised by TD Cowen from $60.00 to $75.00 in a report published on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

TVTX has been the subject of several other research reports. Wells Fargo & Company boosted their price objective on Travere Therapeutics from $50.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, June 12th. Evercore reaffirmed an “outperform” rating on shares of Travere Therapeutics in a report on Wednesday. HC Wainwright boosted their target price on shares of Travere Therapeutics from $57.00 to $67.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Wedbush raised their price target on shares of Travere Therapeutics from $55.00 to $61.00 and gave the company an “outperform” rating in a research report on Monday, June 22nd. Finally, Citigroup upped their price objective on shares of Travere Therapeutics from $70.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday. Ten analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $60.18.

Travere Therapeutics Stock Down 1.8%

TVTX stock opened at $61.32 on Wednesday. The company has a market capitalization of $5.78 billion, a P/E ratio of -133.30 and a beta of 1.12. Travere Therapeutics has a 12 month low of $16.55 and a 12 month high of $66.24. The firm’s fifty day simple moving average is $54.88 and its 200-day simple moving average is $41.28. The company has a debt-to-equity ratio of 24.58, a current ratio of 4.05 and a quick ratio of 3.08.

Insider Buying and Selling

In other news, Director Roy D. Baynes sold 4,500 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $50.00, for a total transaction of $225,000.00. Following the completion of the sale, the director owned 41,500 shares of the company’s stock, valued at $2,075,000. This represents a 9.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Timothy Coughlin sold 10,000 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $50.07, for a total transaction of $500,700.00. Following the completion of the sale, the director owned 56,250 shares of the company’s stock, valued at $2,816,437.50. This trade represents a 15.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.44% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TVTX. Raymond James Financial Inc. acquired a new position in Travere Therapeutics during the second quarter worth $33,000. GAMMA Investing LLC increased its stake in shares of Travere Therapeutics by 53.4% in the 2nd quarter. GAMMA Investing LLC now owns 606 shares of the company’s stock worth $34,000 after acquiring an additional 211 shares during the last quarter. Fifth Third Bancorp purchased a new position in shares of Travere Therapeutics during the 1st quarter worth $35,000. State of Wyoming acquired a new position in shares of Travere Therapeutics during the 4th quarter valued at about $37,000. Finally, Torren Management LLC acquired a new position in shares of Travere Therapeutics during the 4th quarter valued at about $38,000.

Travere Therapeutics Company Profile

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.