Travere Therapeutics (NASDAQ:TVTX) PT Raised to $23.00 at Citigroup

Travere Therapeutics (NASDAQ:TVTX) had its price objective upped by research analysts at Citigroup from $14.00 to $23.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s target price indicates a potential upside of 109.47% from the stock’s previous close.

Several other brokerages have also recently issued reports on TVTX. JPMorgan Chase & Co. boosted their price objective on shares of Travere Therapeutics from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. Bank of America increased their price target on shares of Travere Therapeutics from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Friday. Wedbush lifted their price objective on Travere Therapeutics from $13.00 to $16.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. HC Wainwright increased their target price on Travere Therapeutics from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Barclays lifted their price target on Travere Therapeutics from $12.00 to $14.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $16.33.

Travere Therapeutics Price Performance

Shares of NASDAQ:TVTX opened at $10.98 on Friday. Travere Therapeutics has a one year low of $5.12 and a one year high of $14.82. The company has a 50-day simple moving average of $9.20 and a 200-day simple moving average of $7.82. The company has a quick ratio of 2.99, a current ratio of 3.04 and a debt-to-equity ratio of 24.96.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings data 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 net margin of 82.14% and a negative return on equity of 269.18%. The company had revenue of $54.12 million for the quarter, compared to analysts’ expectations of $49.50 million. As a group, equities research analysts forecast that Travere Therapeutics will post -3.96 EPS for the current year.

Hedge Funds Weigh In On Travere Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. EntryPoint Capital LLC acquired a new position in shares of Travere Therapeutics during the 1st quarter worth approximately $32,000. DRW Securities LLC purchased a new position in Travere Therapeutics in the 2nd quarter valued at about $95,000. Forefront Analytics LLC raised 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 buying an additional 1,237 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of Travere Therapeutics by 68.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 14,652 shares of the company’s stock valued at $113,000 after buying an additional 5,962 shares during the period. Finally, Sei Investments Co. acquired a new stake in Travere Therapeutics during the second quarter worth approximately $117,000.

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.