Travere Therapeutics (NASDAQ:TVTX) Price Target Increased to $20.00 by Analysts at Bank of America

Travere Therapeutics (NASDAQ:TVTX) had its target price upped by investment analysts at Bank of America from $18.00 to $20.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s price objective suggests a potential upside of 16.82% from the stock’s current price.

TVTX has been the subject of a number of other reports. Wedbush boosted their target price on shares of Travere Therapeutics from $17.00 to $25.00 and gave the company an “outperform” rating in a research note on Wednesday. HC Wainwright cut their price objective on shares of Travere Therapeutics from $23.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, September 27th. Piper Sandler lifted their price target on Travere Therapeutics from $11.00 to $12.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Leerink Partners reaffirmed an “outperform” rating and set a $20.00 target price on shares of Travere Therapeutics in a research report on Tuesday. Finally, JPMorgan Chase & Co. lifted their price target on Travere Therapeutics from $20.00 to $23.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.75.

Travere Therapeutics Stock Performance

Travere Therapeutics stock traded up $1.91 during mid-day trading on Wednesday, reaching $17.12. The company’s stock had a trading volume of 3,876,824 shares, compared to its average volume of 1,373,879. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of -8.24 and a beta of 0.73. Travere Therapeutics has a twelve month low of $5.12 and a twelve month high of $17.38. The business has a 50 day moving average price of $11.31 and a 200-day moving average price of $8.78. The company has a current ratio of 3.04, a quick ratio of 2.99 and a debt-to-equity ratio of 24.96.

Travere Therapeutics (NASDAQ:TVTX) last announced 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 return on equity of 269.18% and a negative net margin of 82.14%. The company had revenue of $54.12 million for the quarter, compared to analyst estimates of $49.50 million. Sell-side analysts predict that Travere Therapeutics will post -3.95 EPS for the current fiscal year.

Insider Transactions at Travere Therapeutics

In related news, SVP William E. Rote sold 4,387 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $11.52, for a total value of $50,538.24. Following the transaction, the senior vice president now directly owns 84,455 shares of the company’s stock, valued at approximately $972,921.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Christopher R. Cline sold 2,490 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $28,684.80. Following the completion of the sale, the chief financial officer now owns 74,595 shares in the company, valued at $859,334.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP William E. Rote sold 4,387 shares of Travere Therapeutics stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $11.52, for a total value of $50,538.24. Following the completion of the transaction, the senior vice president now directly owns 84,455 shares in the company, valued at approximately $972,921.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 110,707 shares of company stock worth $1,504,312. 3.75% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Travere Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Travere Therapeutics by 13.6% in the 1st quarter. Vanguard Group Inc. now owns 6,265,829 shares of the company’s stock worth $48,310,000 after acquiring an additional 750,686 shares during the period. Millennium Management LLC raised its stake in shares of Travere Therapeutics by 33.9% in 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 in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Travere Therapeutics by 912.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,214,099 shares of the company’s stock worth $18,200,000 after acquiring an additional 1,995,419 shares during the period. Parkman Healthcare Partners LLC boosted its position in shares of Travere Therapeutics by 76.4% during the 4th quarter. Parkman Healthcare Partners LLC now owns 1,018,812 shares of the company’s stock valued at $9,159,000 after acquiring an additional 441,318 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Travere Therapeutics in the fourth quarter valued at about $5,711,000.

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.