Travere Therapeutics (NASDAQ:TVTX) Reaches New 12-Month High on Analyst Upgrade

Travere Therapeutics, Inc. (NASDAQ:TVTX)’s share price reached a new 52-week high during trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from $20.00 to $23.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Travere Therapeutics traded as high as $14.33 and last traded at $14.33, with a volume of 249 shares. The stock had previously closed at $13.48.

Several other research analysts also recently commented on the company. Citigroup boosted their target price on Travere Therapeutics from $14.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Wedbush increased their price target on Travere Therapeutics from $13.00 to $16.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Canaccord Genuity Group increased their price target on Travere Therapeutics from $18.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Barclays upped their price objective on shares of Travere Therapeutics from $12.00 to $14.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Bank of America increased their target price on Travere Therapeutics from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $17.58.

Insider Buying and Selling at Travere Therapeutics

In other Travere Therapeutics news, CEO Eric M. Dube sold 21,125 shares of the 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 sale, the chief executive officer now directly owns 361,975 shares in the company, valued at approximately $4,169,952. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Eric M. Dube sold 21,125 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $243,360.00. Following the transaction, the chief executive officer now owns 361,975 shares of the company’s stock, valued at approximately $4,169,952. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP William E. Rote sold 4,387 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $50,538.24. Following the sale, the senior vice president now directly owns 84,455 shares of the company’s stock, valued at approximately $972,921.60. The disclosure for this sale can be found here. Insiders have sold a total of 30,707 shares of company stock worth $352,712 over the last three months. 3.75% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of TVTX. Assenagon Asset Management S.A. grew its position in Travere Therapeutics by 912.5% during the second quarter. Assenagon Asset Management S.A. now owns 2,214,099 shares of the company’s stock valued at $18,200,000 after buying an additional 1,995,419 shares during the period. Parkman Healthcare Partners LLC raised its stake in shares of Travere Therapeutics by 76.4% in the fourth quarter. Parkman Healthcare Partners LLC now owns 1,018,812 shares of the company’s stock valued at $9,159,000 after acquiring an additional 441,318 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Travere Therapeutics by 79.2% in the first quarter. Russell Investments Group Ltd. now owns 184,623 shares of the company’s stock valued at $1,423,000 after acquiring an additional 81,611 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of Travere Therapeutics in the first quarter valued at $452,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Travere Therapeutics in the 4th quarter worth about $5,711,000.

Travere Therapeutics Trading Up 0.9 %

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 company’s fifty day simple moving average is $9.79 and its 200-day simple moving average is $8.04. The company has a market capitalization of $1.10 billion, a P/E ratio of -6.86 and a beta of 0.71.

Travere Therapeutics (NASDAQ:TVTX) last released its earnings results on Thursday, August 1st. The company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $49.50 million. Research analysts predict that Travere Therapeutics, Inc. will post -3.96 earnings per share for the current year.

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.