Guggenheim Increases Travere Therapeutics (NASDAQ:TVTX) Price Target to $41.00

Travere Therapeutics (NASDAQ:TVTX) had its price objective boosted by research analysts at Guggenheim from $23.00 to $41.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Guggenheim’s price target suggests a potential upside of 139.63% from the stock’s previous close.

A number of other research firms have also recently issued reports on TVTX. Wedbush raised their price target on shares of Travere Therapeutics from $17.00 to $25.00 and gave the stock an “outperform” rating in a report on Wednesday. Bank of America decreased their price objective on shares of Travere Therapeutics from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, September 27th. Leerink Partners reaffirmed an “outperform” rating and set a $20.00 price objective on shares of Travere Therapeutics in a report on Tuesday. Canaccord Genuity Group lowered their price target on shares of Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Finally, HC Wainwright lowered their price target on shares of Travere Therapeutics from $23.00 to $18.00 and set a “buy” rating on the stock in a research report on Friday, September 27th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.75.

Travere Therapeutics Stock Down 2.7 %

Shares of NASDAQ TVTX opened at $17.11 on Wednesday. The company has a debt-to-equity ratio of 24.96, a quick ratio of 2.99 and a current ratio of 3.04. The stock has a 50 day moving average price of $11.63 and a 200 day moving average price of $8.90. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of -8.15 and a beta of 0.73. Travere Therapeutics has a 52-week low of $5.12 and a 52-week high of $18.60.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.90) EPS 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 the consensus estimate of $49.50 million. Sell-side analysts expect that Travere Therapeutics will post -3.95 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Christopher R. Cline sold 2,490 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $28,684.80. Following the completion of the transaction, the chief financial officer now owns 74,595 shares in the company, valued at approximately $859,334.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Travere Therapeutics news, CFO Christopher R. Cline sold 2,490 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $28,684.80. Following the completion of the transaction, the chief financial officer now owns 74,595 shares in the company, valued at $859,334.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Eric M. Dube sold 21,125 shares of the business’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 value of $243,360.00. Following the completion of the sale, the chief executive officer now owns 361,975 shares of the company’s stock, valued at approximately $4,169,952. This represents 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 worth $1,504,312 in the last quarter. 3.75% of the stock is owned by company insiders.

Hedge Funds Weigh In On Travere Therapeutics

A number of large investors have recently bought and sold shares of the company. EntryPoint Capital LLC acquired a new position in Travere Therapeutics during the first quarter worth $32,000. CWM LLC boosted its stake in shares of Travere Therapeutics by 158.5% during the third quarter. CWM LLC now owns 4,999 shares of the company’s stock valued at $70,000 after acquiring an additional 3,065 shares during the last quarter. DRW Securities LLC purchased a new position in shares of Travere Therapeutics during the second quarter valued at approximately $95,000. Forefront Analytics LLC grew its position 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 valued at $109,000 after purchasing an additional 1,237 shares during the period. Finally, China Universal Asset Management Co. Ltd. boosted its position in shares of 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 acquiring an additional 5,962 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.