Travere Therapeutics, Inc. (NASDAQ:TVTX) Receives $24.00 Consensus Target Price from Brokerages

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) have been given a consensus recommendation of “Moderate Buy” by the thirteen analysts that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $24.00.

A number of analysts have recently weighed in on TVTX shares. Wedbush raised their price target on shares of Travere Therapeutics from $17.00 to $25.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. Piper Sandler raised their price objective on shares of Travere Therapeutics from $12.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Leerink Partners restated an “outperform” rating and issued a $20.00 target price on shares of Travere Therapeutics in a research note on Tuesday, October 8th. Scotiabank increased their price target on shares of Travere Therapeutics from $23.00 to $27.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 1st. Finally, Canaccord Genuity Group lowered their price objective on Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating for the company in a report on Monday, September 30th.

Travere Therapeutics Trading Down 2.4 %

NASDAQ TVTX opened at $20.31 on Friday. The stock has a market cap of $1.59 billion, a P/E ratio of -4.46 and a beta of 0.70. The company’s fifty day simple moving average is $18.33 and its 200-day simple moving average is $14.95. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. Travere Therapeutics has a 52 week low of $5.12 and a 52 week high of $21.56.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.70) EPS for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.01. Travere Therapeutics had a negative return on equity of 537.74% and a negative net margin of 172.75%. The firm had revenue of $62.90 million during the quarter, compared to the consensus estimate of $60.87 million. During the same quarter in the prior year, the business posted ($1.17) earnings per share. Travere Therapeutics’s revenue for the quarter was up 69.6% on a year-over-year basis. Equities research analysts predict that Travere Therapeutics will post -3.92 EPS for the current fiscal year.

Insider Activity at Travere Therapeutics

In other Travere Therapeutics news, Director Roy D. Baynes sold 16,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $20.00, for a total value of $320,000.00. Following the sale, the director now owns 31,000 shares in the company, valued at approximately $620,000. This trade represents a 34.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP William E. Rote sold 2,437 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $19.46, for a total value of $47,424.02. Following the transaction, the senior vice president now owns 83,170 shares of the company’s stock, valued at approximately $1,618,488.20. This represents a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 62,143 shares of company stock worth $1,167,512 in the last 90 days. 3.75% of the stock is currently owned by company insiders.

Institutional Trading of Travere Therapeutics

Several large investors have recently added to or reduced their stakes in TVTX. Jennison Associates LLC bought a new position in shares of Travere Therapeutics in the fourth quarter worth $14,222,000. Millennium Management LLC increased its stake in Travere Therapeutics by 33.9% during the 2nd quarter. Millennium Management LLC now owns 2,949,335 shares of the company’s stock valued at $24,244,000 after buying an additional 747,406 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Travere Therapeutics by 203.0% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 615,000 shares of the company’s stock valued at $5,055,000 after buying an additional 412,000 shares during the period. abrdn plc bought a new stake in shares of Travere Therapeutics during the 4th quarter worth about $6,829,000. Finally, Emerald Advisers LLC lifted its stake in shares of Travere Therapeutics by 19.8% in the 3rd quarter. Emerald Advisers LLC now owns 1,960,659 shares of the company’s stock worth $27,430,000 after acquiring an additional 323,513 shares during the period.

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.