Analysts Set Travere Therapeutics, Inc. (NASDAQ:TVTX) Price Target at $23.67

Travere Therapeutics, Inc. (NASDAQ:TVTX) has earned a consensus recommendation of “Moderate Buy” from the twelve analysts that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $23.67.

Several equities analysts recently weighed in on TVTX shares. Wedbush boosted their price objective on Travere Therapeutics from $17.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. Barclays upped their price target on Travere Therapeutics from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Bank of America raised their price objective 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. Guggenheim increased their price target on shares of Travere Therapeutics from $23.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, HC Wainwright dropped their price objective on shares of Travere Therapeutics from $23.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, September 27th.

Travere Therapeutics Trading Up 0.6 %

NASDAQ:TVTX opened at $17.42 on Monday. The company’s 50 day moving average is $18.09 and its 200-day moving average is $13.58. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96. Travere Therapeutics has a 12 month low of $5.12 and a 12 month high of $20.33. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of -3.83 and a beta of 0.69.

Travere Therapeutics (NASDAQ:TVTX) last posted its earnings results on Thursday, October 31st. The company reported ($0.70) earnings per share (EPS) for the quarter, beating 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 537.74%. The business had revenue of $62.90 million for the quarter, compared to analyst estimates of $60.87 million. During the same period last year, the business posted ($1.17) EPS. Travere Therapeutics’s revenue was up 69.6% compared to the same quarter last year. Equities analysts anticipate that Travere Therapeutics will post -3.94 EPS for the current year.

Insider Activity at Travere Therapeutics

In related news, Director Gary A. Lyons sold 40,000 shares of the stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $14.73, for a total transaction of $589,200.00. Following the completion of the sale, the director now owns 51,000 shares in the company, valued at $751,230. This trade represents a 43.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Sandra Calvin sold 15,000 shares of the business’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $17.22, for a total transaction of $258,300.00. Following the completion of the transaction, the chief accounting officer now owns 54,927 shares in the company, valued at approximately $945,842.94. This trade represents a 21.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 67,090 shares of company stock valued at $1,068,747 over the last quarter. 3.75% of the stock is owned by company insiders.

Institutional Trading of Travere Therapeutics

Several hedge funds have recently modified their holdings of TVTX. Creative Planning grew its position in Travere Therapeutics by 4.3% during the 3rd quarter. Creative Planning now owns 23,938 shares of the company’s stock worth $335,000 after acquiring an additional 995 shares during the last quarter. Forefront Analytics LLC boosted its stake in Travere Therapeutics by 10.2% in 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 in the last quarter. Rice Hall James & Associates LLC grew its holdings in shares of Travere Therapeutics by 3.8% during the second quarter. Rice Hall James & Associates LLC now owns 76,174 shares of the company’s stock worth $626,000 after purchasing an additional 2,774 shares during the last quarter. CWM LLC increased its stake in shares of Travere Therapeutics by 158.5% in the third quarter. CWM LLC now owns 4,999 shares of the company’s stock valued at $70,000 after buying an additional 3,065 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Travere Therapeutics by 20.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,969 shares of the company’s stock valued at $279,000 after buying an additional 3,458 shares during the last quarter.

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.