Travere Therapeutics (NASDAQ:TVTX) Upgraded at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Travere Therapeutics (NASDAQ:TVTX) from an equal weight rating to an overweight rating in a research note issued to investors on Monday, Marketbeat Ratings reports. The brokerage currently has $27.00 price target on the stock, up from their previous price target of $9.00.

TVTX has been the topic of several other research reports. 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 research note on Friday, September 27th. Scotiabank started coverage on shares of Travere Therapeutics in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $23.00 price target on the stock. JPMorgan Chase & Co. raised their price objective on shares of Travere Therapeutics from $20.00 to $23.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Canaccord Genuity Group cut their price target on Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Finally, Leerink Partners restated an “outperform” rating and issued a $20.00 price objective on shares of Travere Therapeutics in a research report on Tuesday, October 8th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $21.38.

Travere Therapeutics Trading Down 0.1 %

Travere Therapeutics stock opened at $17.96 on Monday. The business has a 50-day simple moving average of $13.08 and a two-hundred day simple moving average of $9.51. Travere Therapeutics has a 52-week low of $5.12 and a 52-week high of $19.25. The company has a quick ratio of 2.99, a current ratio of 3.04 and a debt-to-equity ratio of 24.96. The company has a market cap of $1.37 billion, a P/E ratio of -8.55 and a beta of 0.73.

Travere Therapeutics (NASDAQ:TVTX) last announced its earnings results on Thursday, August 1st. The company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.03). The business 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%. Analysts predict that Travere Therapeutics will post -3.95 EPS for the current year.

Insider Transactions at Travere Therapeutics

In related news, insider Jula Inrig sold 2,191 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 value of $25,240.32. Following the completion of the transaction, the insider now directly owns 62,633 shares of the company’s stock, valued at approximately $721,532.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Travere Therapeutics news, insider Jula Inrig sold 2,191 shares of the business’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 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Christopher R. Cline sold 2,490 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $28,684.80. Following the completion of the sale, the chief financial officer now directly owns 74,595 shares of the company’s stock, valued at $859,334.40. The trade was 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 valued at $1,504,312 in the last ninety days. Corporate insiders own 3.75% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings 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 last quarter. Millennium Management LLC raised its position in Travere Therapeutics by 33.9% in the 2nd quarter. Millennium Management LLC now owns 2,949,335 shares of the company’s stock worth $24,244,000 after purchasing an additional 747,406 shares during the period. Assenagon Asset Management S.A. lifted its stake in Travere Therapeutics by 912.5% in the second quarter. Assenagon Asset Management S.A. now owns 2,214,099 shares of the company’s stock worth $18,200,000 after purchasing an additional 1,995,419 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Travere Therapeutics by 203.0% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 615,000 shares of the company’s stock valued at $5,055,000 after buying an additional 412,000 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Travere Therapeutics by 18.3% during the second quarter. Bank of New York Mellon Corp now owns 264,816 shares of the company’s stock valued at $2,177,000 after buying an additional 41,048 shares during the period.

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.