Bank of America Lowers Travere Therapeutics (NASDAQ:TVTX) Price Target to $18.00

Travere Therapeutics (NASDAQ:TVTX) had its price objective lowered by research analysts at Bank of America from $19.00 to $18.00 in a report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s target price suggests a potential upside of 19.68% from the company’s current price.

Several other research analysts have also weighed in on TVTX. Guggenheim upgraded shares of Travere Therapeutics from a “neutral” rating to a “buy” rating and set a $25.00 price objective on the stock in a research note on Monday, September 9th. Wedbush upped their price objective on Travere Therapeutics from $13.00 to $16.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Barclays lifted their target price on Travere Therapeutics from $12.00 to $14.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Piper Sandler boosted their target price on Travere Therapeutics from $11.00 to $12.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Finally, Canaccord Genuity Group raised their price target on Travere Therapeutics from $18.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $17.36.

Travere Therapeutics Trading Up 3.4 %

Shares of NASDAQ:TVTX opened at $15.04 on Friday. The company’s fifty day simple moving average is $10.57 and its 200 day simple moving average is $8.40. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of -7.16 and a beta of 0.71. The company has a quick ratio of 2.99, a current ratio of 3.04 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 $15.36.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.03). Travere Therapeutics had a negative return on equity of 269.18% and a negative net margin of 82.14%. The business had revenue of $54.12 million during the quarter, compared to the consensus estimate of $49.50 million. As a group, research analysts forecast that Travere Therapeutics will post -3.95 EPS for the current fiscal year.

Insider Buying and Selling at Travere Therapeutics

In related news, CFO Christopher R. Cline sold 2,490 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $28,684.80. Following the transaction, the chief financial officer now owns 74,595 shares of the company’s stock, valued at approximately $859,334.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Travere Therapeutics news, CFO Christopher R. Cline sold 2,490 shares of Travere Therapeutics stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $28,684.80. Following the transaction, the chief financial officer now owns 74,595 shares of the company’s stock, valued at approximately $859,334.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Eric M. Dube sold 21,125 shares of Travere Therapeutics stock in a transaction 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 sale, the chief executive officer now owns 361,975 shares in the company, valued at $4,169,952. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,707 shares of company stock worth $352,712. 3.75% of the stock is owned by corporate insiders.

Institutional Trading of Travere Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. EntryPoint Capital LLC purchased a new position in Travere Therapeutics during the first quarter worth about $32,000. DRW Securities LLC purchased a new stake in shares of Travere Therapeutics in the 2nd quarter valued at about $95,000. Forefront Analytics LLC boosted its position in shares of Travere Therapeutics by 10.2% during the 2nd quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock valued at $109,000 after acquiring an additional 1,237 shares during the last quarter. Sei Investments Co. bought a new stake in shares of Travere Therapeutics during the 2nd quarter valued at about $117,000. Finally, Quest Partners LLC grew its holdings in shares of Travere Therapeutics by 240.6% during the second quarter. Quest Partners LLC now owns 14,336 shares of the company’s stock worth $118,000 after purchasing an additional 10,127 shares in the last quarter.

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.