Travere Therapeutics (NASDAQ:TVTX) Research Coverage Started at Scotiabank

Scotiabank started coverage on shares of Travere Therapeutics (NASDAQ:TVTX) in a research report sent to investors on Wednesday morning, MarketBeat reports. The firm issued a sector outperform rating and a $23.00 target price on the stock.

Several other equities research analysts have also recently weighed in on TVTX. Piper Sandler increased their price target on Travere Therapeutics from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Canaccord Genuity Group decreased their target price on shares of Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Monday, September 30th. HC Wainwright dropped 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. Bank of America increased their price objective on shares of Travere Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Leerink Partners restated an “outperform” rating and issued a $20.00 target price on shares of Travere Therapeutics in a report on Tuesday, October 8th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.00.

Travere Therapeutics Price Performance

Travere Therapeutics stock opened at $17.87 on Wednesday. The stock has a 50-day moving average price of $12.71 and a two-hundred day moving average price of $9.34. Travere Therapeutics has a 12 month low of $5.12 and a 12 month high of $18.82. The company has a market capitalization of $1.36 billion, a PE ratio of -8.51 and a beta of 0.73. 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 (NASDAQ:TVTX) last issued 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 business had revenue of $54.12 million during the quarter, compared to the consensus estimate of $49.50 million. Analysts expect that Travere Therapeutics will post -3.95 EPS for the current year.

Insider Activity

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 value of $50,538.24. Following the transaction, the senior vice president now owns 84,455 shares in the company, valued at approximately $972,921.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Travere Therapeutics news, SVP William E. Rote sold 4,387 shares of the firm’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 $50,538.24. Following the transaction, the senior vice president now directly owns 84,455 shares of the company’s stock, valued at approximately $972,921.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Eric M. Dube sold 21,125 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 transaction of $243,360.00. Following the transaction, the chief executive officer now owns 361,975 shares of the company’s stock, valued at $4,169,952. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 110,707 shares of company stock worth $1,504,312 in the last three months. Company insiders own 3.75% of the company’s stock.

Hedge Funds Weigh In On Travere Therapeutics

Several large investors have recently bought and sold shares of TVTX. Assenagon Asset Management S.A. raised its holdings in shares of Travere Therapeutics by 912.5% in 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 purchasing an additional 1,995,419 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Travere Therapeutics by 13.6% during the 1st quarter. Vanguard Group Inc. now owns 6,265,829 shares of the company’s stock worth $48,310,000 after buying an additional 750,686 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Travere Therapeutics by 33.9% in the 2nd quarter. Millennium Management LLC now owns 2,949,335 shares of the company’s stock worth $24,244,000 after buying an additional 747,406 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Travere Therapeutics by 203.0% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 615,000 shares of the company’s stock valued at $5,055,000 after acquiring an additional 412,000 shares in the last quarter. Finally, Affinity Asset Advisors LLC purchased a new stake in shares of Travere Therapeutics during the first quarter valued at approximately $964,000.

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.