Travere Therapeutics (NASDAQ:TVTX) Shares Gap Up After Analyst Upgrade

Travere Therapeutics, Inc. (NASDAQ:TVTX) shares gapped up before the market opened on Wednesday after Wedbush raised their price target on the stock from $17.00 to $25.00. The stock had previously closed at $15.21, but opened at $15.65. Wedbush currently has an outperform rating on the stock. Travere Therapeutics shares last traded at $16.44, with a volume of 1,328,089 shares trading hands.

Several other equities analysts have also recently issued reports on the stock. Bank of America lowered their target price on shares of Travere Therapeutics from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, September 27th. Leerink Partners reiterated an “outperform” rating and set a $20.00 price objective on shares of Travere Therapeutics in a research report on Tuesday. Canaccord Genuity Group dropped their target price on Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. JPMorgan Chase & Co. boosted their price target on Travere Therapeutics from $20.00 to $23.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Finally, HC Wainwright lowered 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. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Travere Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $18.08.

Insider Activity

In other Travere Therapeutics news, insider Jula Inrig sold 2,191 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $25,240.32. Following the sale, the insider now directly owns 62,633 shares of the company’s stock, valued at $721,532.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP William E. Rote sold 4,387 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $50,538.24. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jula Inrig sold 2,191 shares of Travere Therapeutics stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $11.52, for a total value of $25,240.32. Following the completion of the sale, the insider now directly owns 62,633 shares in the company, valued at $721,532.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 110,707 shares of company stock worth $1,504,312 in the last three months. Company insiders own 3.75% of the company’s stock.

Institutional Trading of Travere Therapeutics

A number of large investors have recently added to or reduced their stakes in the company. 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. ProShare Advisors LLC lifted its position in Travere Therapeutics by 9.2% during the first quarter. ProShare Advisors LLC now owns 18,421 shares of the company’s stock valued at $142,000 after purchasing an additional 1,557 shares during the last quarter. Rice Hall James & Associates LLC grew its stake in shares of Travere Therapeutics by 3.8% in the 2nd quarter. Rice Hall James & Associates LLC now owns 76,174 shares of the company’s stock worth $626,000 after buying an additional 2,774 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Travere Therapeutics by 10.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,009 shares of the company’s stock worth $240,000 after buying an additional 2,948 shares during the last quarter. Finally, CWM LLC raised its position in shares of Travere Therapeutics by 158.5% during the 3rd quarter. CWM LLC now owns 4,999 shares of the company’s stock valued at $70,000 after buying an additional 3,065 shares in the last quarter.

Travere Therapeutics Trading Up 5.5 %

The stock has a market cap of $1.22 billion, a P/E ratio of -7.93 and a beta of 0.73. The company has a debt-to-equity ratio of 24.96, a quick ratio of 2.99 and a current ratio of 3.04. The stock’s fifty day moving average is $11.31 and its 200 day moving average is $8.78.

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

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.