Travere Therapeutics (NASDAQ:TVTX) Given New $35.00 Price Target at Piper Sandler

Travere Therapeutics (NASDAQ:TVTX) had its price target hoisted by Piper Sandler from $26.00 to $35.00 in a research note issued to investors on Tuesday, MarketBeat reports. Piper Sandler currently has a neutral rating on the stock.

Other analysts have also recently issued reports about the company. Stifel Nicolaus increased their price target on Travere Therapeutics from $20.00 to $25.00 and gave the stock a “hold” rating in a research report on Friday, September 12th. Citigroup increased their price target on Travere Therapeutics from $34.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Cowen reiterated a “buy” rating on shares of Travere Therapeutics in a research report on Friday. Wedbush increased their price target on Travere Therapeutics from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Finally, HC Wainwright reiterated a “buy” rating and set a $47.00 price target on shares of Travere Therapeutics in a research report on Friday, September 19th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Travere Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $38.71.

Travere Therapeutics Stock Down 1.2%

Shares of Travere Therapeutics stock opened at $34.13 on Tuesday. The company has a current ratio of 2.00, a quick ratio of 1.98 and a debt-to-equity ratio of 9.50. The business’s 50 day simple moving average is $25.18 and its 200-day simple moving average is $19.68. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of -16.73 and a beta of 0.83. Travere Therapeutics has a twelve month low of $12.91 and a twelve month high of $36.15.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings results on Thursday, October 30th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.59. The business had revenue of $113.15 million for the quarter, compared to analysts’ expectations of $106.09 million. Travere Therapeutics had a negative return on equity of 717.68% and a negative net margin of 50.64%.The business’s quarterly revenue was up 162.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.70) EPS. Equities research analysts forecast that Travere Therapeutics will post -1.4 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Peter Heerma sold 5,591 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $35.00, for a total value of $195,685.00. Following the sale, the insider directly owned 119,071 shares in the company, valued at $4,167,485. This trade represents a 4.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Timothy Coughlin sold 18,000 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $35.03, for a total value of $630,540.00. Following the completion of the sale, the director owned 55,500 shares in the company, valued at approximately $1,944,165. This represents a 24.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 156,826 shares of company stock valued at $4,805,240 in the last quarter. 4.19% of the stock is owned by insiders.

Institutional Trading of Travere Therapeutics

Several large investors have recently added to or reduced their stakes in the business. First Horizon Corp bought a new position in Travere Therapeutics during the 3rd quarter valued at $36,000. Raymond James Financial Inc. bought a new position in Travere Therapeutics during the 2nd quarter valued at $33,000. Caitong International Asset Management Co. Ltd bought a new position in Travere Therapeutics during the 1st quarter valued at $62,000. KBC Group NV bought a new position in Travere Therapeutics during the 1st quarter valued at $75,000. Finally, Headlands Technologies LLC bought a new position in Travere Therapeutics during the 2nd quarter valued at $73,000.

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.