Travere Therapeutics, Inc. (NASDAQ:TVTX) Receives $30.62 Average Price Target from Analysts

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) have been assigned a consensus recommendation of “Moderate Buy” from the fourteen research firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $30.62.

A number of analysts have recently commented on TVTX shares. HC Wainwright boosted their price target on Travere Therapeutics from $18.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. Citigroup boosted their price target on Travere Therapeutics from $31.00 to $35.00 and gave the company a “buy” rating in a report on Monday, February 24th. JPMorgan Chase & Co. boosted their price target on Travere Therapeutics from $42.00 to $44.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Travere Therapeutics in a research report on Friday, February 21st. Finally, Scotiabank lifted their target price on Travere Therapeutics from $27.00 to $32.00 and gave the company a “sector outperform” rating in a research report on Wednesday, February 12th.

Travere Therapeutics Stock Performance

TVTX stock opened at $20.87 on Friday. The business’s 50-day moving average price is $20.37 and its two-hundred day moving average price is $17.91. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. The firm has a market cap of $1.85 billion, a PE ratio of -5.09 and a beta of 0.75. Travere Therapeutics has a 1-year low of $5.12 and a 1-year high of $25.29.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($0.73) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.15). The firm had revenue of $74.79 million during the quarter, compared to the consensus estimate of $72.38 million. Travere Therapeutics had a negative net margin of 137.90% and a negative return on equity of 1,636.87%. As a group, research analysts forecast that Travere Therapeutics will post -1.4 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP William E. Rote sold 2,437 shares of the company’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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Sandra Calvin sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $17.22, for a total value of $258,300.00. Following the completion of the transaction, the chief accounting officer now directly owns 54,927 shares in the company, valued at $945,842.94. The trade was a 21.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 206,335 shares of company stock valued at $4,453,012 over the last 90 days. 3.75% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Travere Therapeutics

Institutional investors have recently made changes to their positions in the stock. GF Fund Management CO. LTD. bought a new stake in shares of Travere Therapeutics in the fourth quarter valued at approximately $31,000. Sterling Capital Management LLC boosted its stake in shares of Travere Therapeutics by 859.8% in the fourth quarter. Sterling Capital Management LLC now owns 2,361 shares of the company’s stock valued at $41,000 after buying an additional 2,115 shares during the period. R Squared Ltd bought a new stake in shares of Travere Therapeutics in the fourth quarter valued at approximately $53,000. Gen Wealth Partners Inc bought a new stake in shares of Travere Therapeutics in the fourth quarter valued at approximately $73,000. Finally, Quarry LP bought a new stake in shares of Travere Therapeutics in the third quarter valued at approximately $105,000.

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.