Travere Therapeutics (NASDAQ:TVTX) Price Target Raised to $19.00

Travere Therapeutics (NASDAQ:TVTX) had its target price lifted by HC Wainwright from $17.00 to $19.00 in a report issued on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages also recently commented on TVTX. Wedbush reissued an outperform rating and issued a $13.00 price objective on shares of Travere Therapeutics in a research report on Wednesday, April 17th. Wells Fargo & Company boosted their price target on Travere Therapeutics from $8.00 to $9.00 and gave the stock an equal weight rating in a research report on Friday, February 16th. Guggenheim restated a neutral rating on shares of Travere Therapeutics in a research note on Wednesday, March 27th. Finally, Piper Sandler boosted their target price on Travere Therapeutics from $10.00 to $11.00 and gave the stock a neutral rating in a report on Thursday, January 18th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $18.00.

Travere Therapeutics Trading Down 5.1 %

TVTX opened at $5.45 on Wednesday. The business’s 50-day simple moving average is $7.41 and its 200 day simple moving average is $7.68. Travere Therapeutics has a 52-week low of $5.25 and a 52-week high of $22.75. The company has a current ratio of 3.47, a quick ratio of 3.41 and a debt-to-equity ratio of 1.88.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings data on Thursday, February 15th. The company reported ($1.16) EPS for the quarter, beating the consensus estimate of ($1.27) by $0.11. The company had revenue of $45.06 million during the quarter, compared to the consensus estimate of $41.25 million. Travere Therapeutics had a negative return on equity of 177.97% and a negative net margin of 56.02%. As a group, equities research analysts forecast that Travere Therapeutics will post -3.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Travere Therapeutics

In other news, CEO Eric M. Dube sold 19,122 shares of Travere Therapeutics stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $8.70, for a total value of $166,361.40. Following the completion of the sale, the chief executive officer now directly owns 350,600 shares in the company, valued at $3,050,220. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Eric M. Dube sold 19,122 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $8.70, for a total transaction of $166,361.40. Following the sale, the chief executive officer now directly owns 350,600 shares of the company’s stock, valued at approximately $3,050,220. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Peter Heerma sold 4,195 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $8.53, for a total value of $35,783.35. Following the completion of the transaction, the insider now directly owns 99,503 shares of the company’s stock, valued at approximately $848,760.59. The disclosure for this sale can be found here. Insiders sold 34,773 shares of company stock valued at $300,625 in the last quarter. Company insiders own 3.75% of the company’s stock.

Institutional Trading of Travere Therapeutics

Large investors have recently made changes to their positions in the company. Teacher Retirement System of Texas boosted its holdings in shares of Travere Therapeutics by 9.6% in the 3rd quarter. Teacher Retirement System of Texas now owns 18,804 shares of the company’s stock valued at $168,000 after purchasing an additional 1,641 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Travere Therapeutics by 9.7% during the 4th quarter. Arizona State Retirement System now owns 20,969 shares of the company’s stock worth $189,000 after buying an additional 1,851 shares during the last quarter. Signaturefd LLC boosted its stake in Travere Therapeutics by 1,656.4% in the fourth quarter. Signaturefd LLC now owns 3,021 shares of the company’s stock valued at $27,000 after buying an additional 2,849 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Travere Therapeutics by 7.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 46,424 shares of the company’s stock valued at $417,000 after acquiring an additional 3,083 shares during the last quarter. Finally, Rice Hall James & Associates LLC raised its stake in Travere Therapeutics by 4.5% during the first quarter. Rice Hall James & Associates LLC now owns 73,400 shares of the company’s stock worth $566,000 after acquiring an additional 3,140 shares in the last quarter.

Travere Therapeutics Company Profile

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.