Barclays Boosts Travere Therapeutics (NASDAQ:TVTX) Price Target to $20.00

Travere Therapeutics (NASDAQ:TVTX) had its price objective lifted by investment analysts at Barclays from $18.00 to $20.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price would indicate a potential upside of 13.83% from the company’s previous close.

TVTX has been the topic of a number of other reports. Wells Fargo & Company upgraded shares of Travere Therapeutics from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $9.00 to $27.00 in a research note on Monday, October 21st. Bank of America upped their target price on shares of Travere Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. upped their target price on shares of Travere Therapeutics from $20.00 to $23.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Piper Sandler upped their target price on shares of Travere Therapeutics from $11.00 to $12.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Finally, HC Wainwright cut their target price on shares of Travere Therapeutics from $23.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, September 27th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Travere Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.85.

Travere Therapeutics Stock Up 0.4 %

Shares of NASDAQ:TVTX opened at $17.57 on Friday. The company has a debt-to-equity ratio of 24.96, a current ratio of 3.04 and a quick ratio of 2.99. The firm has a market capitalization of $1.34 billion, a PE ratio of -3.86 and a beta of 0.70. The firm’s 50-day moving average is $14.53 and its two-hundred day moving average is $10.09. Travere Therapeutics has a 1 year low of $5.12 and a 1 year high of $19.25.

Travere Therapeutics (NASDAQ:TVTX) last released its earnings results on Thursday, October 31st. The company reported ($0.70) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.01. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 360.96%. The firm had revenue of $62.90 million for the quarter, compared to analyst estimates of $60.87 million. During the same period in the prior year, the firm earned ($1.17) earnings per share. The business’s quarterly revenue was up 69.6% compared to the same quarter last year. Analysts predict that Travere Therapeutics will post -3.95 EPS for the current year.

Insider Buying and Selling at Travere Therapeutics

In other news, CEO Eric M. Dube sold 21,125 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 $243,360.00. Following the completion of the sale, the chief executive officer now directly owns 361,975 shares of the company’s stock, valued at approximately $4,169,952. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Eric M. Dube sold 21,125 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 $243,360.00. Following the completion of the sale, the chief executive officer now directly owns 361,975 shares of the company’s stock, valued at approximately $4,169,952. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jula Inrig sold 2,191 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 $25,240.32. Following the completion of the sale, the insider now directly owns 62,633 shares of the company’s stock, valued at $721,532.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 110,707 shares of company stock worth $1,504,312 over the last three months. Insiders own 3.75% of the company’s stock.

Institutional Investors Weigh In On Travere Therapeutics

Several large investors have recently modified their holdings of TVTX. EntryPoint Capital LLC acquired a new stake in shares of Travere Therapeutics during the first quarter worth $32,000. CWM LLC lifted its holdings in shares of Travere Therapeutics by 158.5% during the third quarter. CWM LLC now owns 4,999 shares of the company’s stock worth $70,000 after purchasing an additional 3,065 shares during the period. DRW Securities LLC acquired a new stake in shares of Travere Therapeutics during the second quarter worth $95,000. Forefront Analytics LLC lifted its holdings 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 worth $109,000 after purchasing an additional 1,237 shares during the period. Finally, Sei Investments Co. acquired a new stake in shares of Travere Therapeutics during the second quarter worth $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.