Piper Sandler Lowers Travere Therapeutics (NASDAQ:TVTX) Price Target to $41.00

Travere Therapeutics (NASDAQ:TVTX – Get Rating) had its target price reduced by analysts at Piper Sandler from $44.00 to $41.00 in a note issued to investors on Monday, The Fly reports. Piper Sandler’s price objective indicates a potential upside of 88.16% from the stock’s previous close.

Several other research firms have also recently weighed in on TVTX. Barclays decreased their price objective on shares of Travere Therapeutics from $37.00 to $31.00 and set an “overweight” rating for the company in a research report on Tuesday, February 21st. Stifel Nicolaus started coverage on shares of Travere Therapeutics in a research report on Tuesday, December 13th. They set a “hold” rating and a $22.00 price objective for the company. Canaccord Genuity Group decreased their price objective on shares of Travere Therapeutics from $44.00 to $42.00 and set a “buy” rating for the company in a research report on Tuesday, February 28th. Guggenheim initiated coverage on shares of Travere Therapeutics in a research note on Tuesday, February 28th. They set a “buy” rating and a $37.00 target price on the stock. Finally, HC Wainwright increased their target price on shares of Travere Therapeutics from $36.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, February 21st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.91.

Travere Therapeutics Trading Up 0.3 %

TVTX opened at $21.79 on Monday. Travere Therapeutics has a twelve month low of $17.82 and a twelve month high of $30.35. The company has a quick ratio of 3.37, a current ratio of 3.42 and a debt-to-equity ratio of 8.76. The company has a fifty day moving average of $21.15 and a 200-day moving average of $22.08. The stock has a market cap of $1.41 billion, a PE ratio of -4.99 and a beta of 0.48.

Insider Buying and Selling

In other news, CEO Eric M. Dube sold 8,196 shares of Travere Therapeutics stock in a transaction dated Wednesday, February 1st. The shares were sold at an average price of $22.25, for a total value of $182,361.00. Following the completion of the transaction, the chief executive officer now owns 237,150 shares in the company, valued at $5,276,587.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Eric M. Dube sold 8,196 shares of Travere Therapeutics stock in a transaction dated Wednesday, February 1st. The shares were sold at an average price of $22.25, for a total value of $182,361.00. Following the completion of the transaction, the chief executive officer now owns 237,150 shares in the company, valued at $5,276,587.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Elizabeth E. Reed sold 2,590 shares of Travere Therapeutics stock in a transaction dated Wednesday, February 1st. The stock was sold at an average price of $22.25, for a total transaction of $57,627.50. Following the completion of the transaction, the senior vice president now owns 57,436 shares of the company’s stock, valued at approximately $1,277,951. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,311 shares of company stock worth $764,101. Insiders own 4.71% of the company’s stock.

Hedge Funds Weigh In On Travere Therapeutics

A number of large investors have recently modified their holdings of the company. Parkwood LLC boosted its position in shares of Travere Therapeutics by 3.6% in the third quarter. Parkwood LLC now owns 15,246 shares of the company’s stock valued at $376,000 after acquiring an additional 532 shares during the period. Arizona State Retirement System boosted its position in shares of Travere Therapeutics by 4.6% in the fourth quarter. Arizona State Retirement System now owns 15,340 shares of the company’s stock valued at $323,000 after acquiring an additional 669 shares during the period. Legal & General Group Plc boosted its position in shares of Travere Therapeutics by 4.4% in the second quarter. Legal & General Group Plc now owns 22,601 shares of the company’s stock valued at $548,000 after acquiring an additional 957 shares during the period. ProShare Advisors LLC boosted its position in shares of Travere Therapeutics by 9.4% in the fourth quarter. ProShare Advisors LLC now owns 13,226 shares of the company’s stock valued at $278,000 after acquiring an additional 1,132 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in shares of Travere Therapeutics by 13.4% in the first quarter. Envestnet Asset Management Inc. now owns 10,362 shares of the company’s stock valued at $267,000 after acquiring an additional 1,224 shares during the period.

About Travere Therapeutics

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Travere Therapeutics, Inc is a biopharmaceutical company. It engages in the identification, development, commercialization, and distribution of therapies to people living with rare diseases. The firm’s products include Chenodal, Cholbam, and Thiola. The company was founded by Martin Shkreli on February 7, 2008 and is headquartered in San Diego, CA.