Travere Therapeutics (NASDAQ:TVTX) Shares Gap Up to $8.90

Travere Therapeutics, Inc. (NASDAQ:TVTX) gapped up prior to trading on Wednesday . The stock had previously closed at $8.90, but opened at $9.14. Travere Therapeutics shares last traded at $9.08, with a volume of 23,302 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on TVTX shares. Wedbush boosted their target price on shares of Travere Therapeutics from $13.00 to $16.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Canaccord Genuity Group lifted their price objective on shares of Travere Therapeutics from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. Piper Sandler lifted their price objective on shares of Travere Therapeutics from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. lifted their price objective on shares of Travere Therapeutics from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Finally, Barclays lifted their price objective on shares of Travere Therapeutics from $12.00 to $14.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Travere Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $15.67.

Travere Therapeutics Stock Performance

The firm has a market cap of $652.43 million, a price-to-earnings ratio of -4.08 and a beta of 0.77. The stock has a 50 day moving average of $8.75 and a 200 day moving average of $7.73. The company has a quick ratio of 2.99, a current ratio of 3.04 and a debt-to-equity ratio of 24.96.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Signaturefd LLC raised its stake in Travere Therapeutics by 1,656.4% during the fourth quarter. Signaturefd LLC now owns 3,021 shares of the company’s stock worth $27,000 after acquiring an additional 2,849 shares in the last quarter. EntryPoint Capital LLC acquired a new position in Travere Therapeutics during the first quarter worth about $32,000. DRW Securities LLC acquired a new position in Travere Therapeutics during the second quarter worth about $95,000. Forefront Analytics LLC raised its stake in 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 acquiring an additional 1,237 shares in the last quarter. Finally, Sei Investments Co. acquired a new position in Travere Therapeutics during the second quarter worth about $117,000.

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.