Travere Therapeutics (NASDAQ:TVTX) Price Target Cut to $22.00

Travere Therapeutics (NASDAQ:TVTX) had its target price dropped by Canaccord Genuity Group from $23.00 to $22.00 in a report released on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 57.26% from the company’s current price.

TVTX has been the topic of several other research reports. Bank of America decreased their price target 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. Piper Sandler increased their target price on shares of Travere Therapeutics from $11.00 to $12.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Wedbush lifted their price target on shares of Travere Therapeutics from $13.00 to $16.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Citigroup lowered their target price on Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating for the company in a report on Friday, September 27th. Finally, HC Wainwright cut their price target 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. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $17.09.

Travere Therapeutics Price Performance

Shares of Travere Therapeutics stock opened at $13.99 on Monday. The company has a current ratio of 3.04, a quick ratio of 2.99 and a debt-to-equity ratio of 24.96. Travere Therapeutics has a 12-month low of $5.12 and a 12-month high of $15.36. The firm’s 50-day moving average price is $10.83 and its two-hundred day moving average price is $8.54.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.03). Travere Therapeutics had a negative net margin of 82.14% and a negative return on equity of 269.18%. The firm had revenue of $54.12 million during the quarter, compared to the consensus estimate of $49.50 million. As a group, sell-side analysts predict that Travere Therapeutics will post -3.95 earnings per share for the current year.

Insider Transactions at Travere Therapeutics

In other Travere Therapeutics news, SVP William E. Rote sold 4,387 shares of the stock in a transaction that occurred 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 directly owns 84,455 shares in the company, valued at approximately $972,921.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Jula Inrig sold 2,191 shares of Travere Therapeutics stock in a transaction on Monday, September 9th. The shares were 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP William E. Rote sold 4,387 shares of Travere Therapeutics stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $50,538.24. Following the transaction, the senior vice president now owns 84,455 shares of the company’s stock, valued at approximately $972,921.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 70,707 shares of company stock valued at $915,112. Corporate insiders own 3.75% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. EntryPoint Capital LLC purchased a new position in Travere Therapeutics during the first quarter worth about $32,000. DRW Securities LLC bought a new position in shares of Travere Therapeutics in the second quarter valued at approximately $95,000. Forefront Analytics LLC increased its position in shares of Travere Therapeutics by 10.2% during the second quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock valued at $109,000 after acquiring an additional 1,237 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its position in Travere Therapeutics by 68.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 14,652 shares of the company’s stock worth $113,000 after purchasing an additional 5,962 shares during the last quarter. Finally, Sei Investments Co. bought a new position in Travere Therapeutics in the 2nd quarter valued at $117,000.

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.