Barclays Increases Travere Therapeutics (NASDAQ:TVTX) Price Target to $18.00

Travere Therapeutics (NASDAQ:TVTX) had its price objective increased by Barclays from $14.00 to $18.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price would indicate a potential upside of 28.39% from the company’s previous close.

Several other research analysts also recently commented on TVTX. HC Wainwright decreased their price objective on Travere Therapeutics from $23.00 to $18.00 and set a “buy” rating on the stock in a report on Friday. JPMorgan Chase & Co. raised their target price on Travere Therapeutics from $20.00 to $23.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Bank of America cut their target price on Travere Therapeutics from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday. Wedbush raised their target price on Travere Therapeutics from $13.00 to $16.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Finally, Piper Sandler raised their target price on Travere Therapeutics from $11.00 to $12.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $17.09.

Travere Therapeutics Price Performance

Shares of TVTX stock traded up $0.03 on Tuesday, reaching $14.02. The company’s stock had a trading volume of 663,875 shares, compared to its average volume of 1,315,197. 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. The company has a market capitalization of $1.07 billion, a P/E ratio of -6.55 and a beta of 0.71. The stock’s 50 day simple moving average is $10.74 and its 200-day simple moving average is $8.49.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.03). Travere Therapeutics had a negative net margin of 82.14% and a negative return on equity of 269.18%. The firm had revenue of $54.12 million for the quarter, compared to analysts’ expectations of $49.50 million. As a group, equities analysts predict that Travere Therapeutics will post -3.95 earnings per share for the current fiscal year.

Insider Buying and Selling at Travere Therapeutics

In other Travere Therapeutics news, Director Jeffrey A. Meckler sold 40,000 shares of Travere Therapeutics stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $14.06, for a total transaction of $562,400.00. Following the sale, the director now directly owns 81,000 shares of the company’s stock, valued at approximately $1,138,860. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Jeffrey A. Meckler sold 40,000 shares of Travere Therapeutics stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $14.06, for a total transaction of $562,400.00. Following the completion of the transaction, the director now directly owns 81,000 shares in the company, valued at $1,138,860. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eric M. Dube sold 21,125 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 $243,360.00. Following the transaction, the chief executive officer now owns 361,975 shares of the company’s stock, valued at $4,169,952. The disclosure for this sale can be found here. In the last three months, insiders have sold 70,707 shares of company stock valued at $915,112. 3.75% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Travere Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. EntryPoint Capital LLC purchased a new position in Travere Therapeutics in the 1st quarter worth approximately $32,000. DRW Securities LLC purchased a new position in Travere Therapeutics in the 2nd quarter worth approximately $95,000. Forefront Analytics LLC raised its holdings in Travere Therapeutics by 10.2% in the 2nd quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock worth $109,000 after acquiring an additional 1,237 shares during the last quarter. Sei Investments Co. purchased a new position in Travere Therapeutics in the 2nd quarter worth approximately $117,000. Finally, Quest Partners LLC raised its holdings in Travere Therapeutics by 240.6% in the 2nd quarter. Quest Partners LLC now owns 14,336 shares of the company’s stock worth $118,000 after acquiring an additional 10,127 shares during 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.