Scotiabank Issues Positive Forecast for Travere Therapeutics (NASDAQ:TVTX) Stock Price

Travere Therapeutics (NASDAQ:TVTX) had its price target upped by Scotiabank from $23.00 to $27.00 in a research report released on Friday, Benzinga reports. They currently have a sector outperform rating on the stock.

TVTX has been the subject of a number of other reports. Bank of America boosted their target price on shares of Travere Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Canaccord Genuity Group lowered their target price on shares of Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Piper Sandler boosted their target price on shares of Travere Therapeutics from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Leerink Partners reaffirmed an “outperform” rating and issued a $20.00 price objective on shares of Travere Therapeutics in a research note on Tuesday, October 8th. Finally, HC Wainwright lowered their price objective on shares of Travere Therapeutics from $23.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, September 27th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Travere Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $21.85.

Travere Therapeutics Stock Up 3.0 %

NASDAQ TVTX opened at $18.10 on Friday. 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 fifty day moving average of $14.53 and a two-hundred day moving average of $10.15. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of -3.98 and a beta of 0.70. Travere Therapeutics has a 52 week low of $5.12 and a 52 week high of $19.25.

Travere Therapeutics (NASDAQ:TVTX) last issued its earnings results on Thursday, October 31st. The company reported ($0.70) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.01. The firm had revenue of $62.90 million during the quarter, compared to analyst estimates of $60.87 million. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 360.96%. The business’s revenue was up 69.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.17) earnings per share. On average, analysts predict that Travere Therapeutics will post -3.95 earnings per share for the current year.

Insiders Place Their Bets

In other Travere Therapeutics news, CEO Eric M. Dube sold 21,125 shares of the business’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 $243,360.00. Following the completion of the transaction, the chief executive officer now directly owns 361,975 shares in the company, valued at approximately $4,169,952. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Eric M. Dube sold 21,125 shares of the company’s stock in a transaction dated 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 in the company, valued at $4,169,952. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Gary A. Lyons sold 40,000 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $14.73, for a total transaction of $589,200.00. Following the transaction, the director now owns 51,000 shares in the company, valued at approximately $751,230. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 110,707 shares of company stock worth $1,504,312. 3.75% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Travere Therapeutics

Several hedge funds have recently bought and sold shares of TVTX. EntryPoint Capital LLC purchased a new position in shares of Travere Therapeutics during the 1st quarter valued at approximately $32,000. CWM LLC lifted 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. DRW Securities LLC purchased a new position in shares of Travere Therapeutics during the 2nd quarter valued at approximately $95,000. Forefront Analytics LLC lifted 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 buying an additional 1,237 shares in the last quarter. Finally, Sei Investments Co. purchased a new position in shares of Travere Therapeutics during the 2nd quarter valued at approximately $117,000.

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.