Travere Therapeutics (NASDAQ:TVTX) Price Target Increased to $42.00 by Analysts at Piper Sandler

Travere Therapeutics (NASDAQ:TVTX – Get Rating) had its target price boosted by Piper Sandler from $38.00 to $42.00 in a research report report published on Tuesday morning, The Fly reports.

Other equities research analysts also recently issued research reports about the company. Wells Fargo & Company initiated coverage on Travere Therapeutics in a report on Monday, December 5th. They set an overweight rating and a $28.00 price objective for the company. Bryan, Garnier & Co assumed coverage on Travere Therapeutics in a report on Wednesday, September 21st. They set a sell rating and a $17.00 price target for the company. SVB Leerink cut their price objective on Travere Therapeutics from $45.00 to $38.00 and set an outperform rating on the stock in a research report on Thursday, October 20th. HC Wainwright cut their price objective on Travere Therapeutics from $42.00 to $36.00 and set a buy rating on the stock in a research report on Friday, October 14th. Finally, Evercore ISI cut their price objective on Travere Therapeutics to $30.00 in a research report on Thursday, October 20th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $32.44.

Travere Therapeutics Stock Performance

Shares of TVTX stock opened at $20.38 on Tuesday. The business’s 50-day moving average price is $20.19 and its 200-day moving average price is $23.38. The company has a current ratio of 4.08, a quick ratio of 4.03 and a debt-to-equity ratio of 3.73. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of -4.88 and a beta of 0.48. Travere Therapeutics has a 12 month low of $17.97 and a 12 month high of $30.35.

Travere Therapeutics (NASDAQ:TVTX – Get Rating) last issued its quarterly earnings results on Thursday, October 27th. The company reported ($1.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.97) by ($0.12). Travere Therapeutics had a negative net margin of 123.82% and a negative return on equity of 137.68%. The business had revenue of $53.50 million during the quarter, compared to analyst estimates of $51.32 million. Equities research analysts forecast that Travere Therapeutics will post -4.34 EPS for the current year.

Insider Buying and Selling

In related news, insider Jula Inrig sold 2,051 shares of the stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $20.75, for a total transaction of $42,558.25. Following the sale, the insider now owns 17,949 shares of the company’s stock, valued at approximately $372,441.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Travere Therapeutics news, insider Jula Inrig sold 2,051 shares of the company’s stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $20.75, for a total value of $42,558.25. Following the transaction, the insider now directly owns 17,949 shares in the company, valued at approximately $372,441.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Eric M. Dube sold 5,625 shares of the company’s stock in a transaction dated Thursday, January 5th. The stock was sold at an average price of $20.75, for a total value of $116,718.75. Following the completion of the transaction, the chief executive officer now owns 154,288 shares in the company, valued at $3,201,476. The disclosure for this sale can be found here. 4.71% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Travere Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. US Bancorp DE grew its position in Travere Therapeutics by 1,372.3% during the 1st quarter. US Bancorp DE now owns 1,487 shares of the company’s stock worth $38,000 after acquiring an additional 1,386 shares during the last quarter. Point72 Hong Kong Ltd lifted its holdings in Travere Therapeutics by 2,540.3% in the 1st quarter. Point72 Hong Kong Ltd now owns 5,439 shares of the company’s stock worth $140,000 after buying an additional 5,233 shares during the period. Quantbot Technologies LP purchased a new stake in Travere Therapeutics in the 2nd quarter worth approximately $157,000. Intrust Bank NA purchased a new stake in Travere Therapeutics in the 2nd quarter worth approximately $206,000. Finally, Great West Life Assurance Co. Can purchased a new stake in Travere Therapeutics in the 3rd quarter worth approximately $223,000.

About Travere Therapeutics

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Travere Therapeutics, Inc, a biopharmaceutical company, focuses on the identification, development, commercialization, and delivering of therapies for the treatment of rare diseases. Its marketed products include Chenodal, a synthetic oral form of chenodeoxycholic acid for the treatment of radiolucent stones in gallbladders; Cholbam, a cholic acid capsule to treat pediatric and adult patients with bile acid synthesis disorders due to single enzyme defects, as well as for adjunctive treatment of patients with peroxisomal disorders; and Thiola and Thiola EC, a tiopronin tablet for the treatment of homozygous cystinuria.