Travere Therapeutics (NASDAQ:TVTX) Raised to Overweight at Piper Sandler

Travere Therapeutics (NASDAQ:TVTX) was upgraded by investment analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a research note issued to investors on Tuesday, Marketbeat reports. The brokerage presently has a $49.00 target price on the stock. Piper Sandler’s price objective suggests a potential upside of 19.66% from the stock’s previous close.

A number of other research analysts also recently issued reports on TVTX. Citigroup increased their price objective on Travere Therapeutics from $48.00 to $53.00 and gave the stock a “buy” rating in a report on Tuesday. Wedbush raised their price target on Travere Therapeutics from $39.00 to $44.00 and gave the company an “outperform” rating in a research note on Tuesday. Guggenheim raised their price target on Travere Therapeutics from $49.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday. HC Wainwright restated a “buy” rating and issued a $47.00 price target on shares of Travere Therapeutics in a research note on Tuesday. Finally, Wall Street Zen downgraded Travere Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 21st. Eleven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Travere Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $42.50.

Travere Therapeutics Stock Down 2.8%

NASDAQ:TVTX opened at $40.95 on Tuesday. The company has a debt-to-equity ratio of 2.71, a quick ratio of 2.70 and a current ratio of 2.74. The company has a market cap of $3.78 billion, a PE ratio of -136.50 and a beta of 0.86. Travere Therapeutics has a 52-week low of $13.88 and a 52-week high of $43.31. The stock has a 50-day simple moving average of $29.57 and a 200 day simple moving average of $31.37.

Insider Buying and Selling

In other Travere Therapeutics news, insider William E. Rote sold 12,446 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $32.87, for a total value of $409,100.02. Following the completion of the transaction, the insider directly owned 109,087 shares in the company, valued at $3,585,689.69. This trade represents a 10.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Elizabeth E. Reed sold 44,715 shares of the firm’s stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $41.21, for a total value of $1,842,705.15. Following the completion of the transaction, the insider owned 111,996 shares of the company’s stock, valued at approximately $4,615,355.16. This represents a 28.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 444,127 shares of company stock valued at $15,206,744 in the last ninety days. 4.19% of the stock is owned by company insiders.

Institutional Trading of Travere Therapeutics

A number of hedge funds have recently made changes to their positions in TVTX. Emerald Advisers LLC lifted its holdings in Travere Therapeutics by 2.6% during the 3rd quarter. Emerald Advisers LLC now owns 2,146,767 shares of the company’s stock worth $51,308,000 after purchasing an additional 55,407 shares during the last quarter. Essex Investment Management Co. LLC acquired a new stake in Travere Therapeutics during the 3rd quarter worth approximately $3,872,000. Palisades Investment Partners LLC acquired a new stake in Travere Therapeutics during the 4th quarter worth approximately $5,264,000. Voya Investment Management LLC lifted its holdings in Travere Therapeutics by 16.2% during the 3rd quarter. Voya Investment Management LLC now owns 194,854 shares of the company’s stock worth $4,657,000 after purchasing an additional 27,133 shares during the last quarter. Finally, Lisanti Capital Growth LLC acquired a new stake in Travere Therapeutics during the 3rd quarter worth approximately $3,095,000.

Key Stories Impacting Travere Therapeutics

Here are the key news stories impacting Travere Therapeutics this week:

• Positive Sentiment: FDA grants full approval for Filspari in focal segmental glomerulosclerosis (FSGS), expanding Travere’s rare kidney-disease franchise, adding an estimated ~30,000 patients to the U.S. addressable market and supporting multi-year revenue/earnings upside. Article Title
• Positive Sentiment: Market reacted strongly to the approval — shares jumped about ~37% on the news as investors priced in first-mover status, premium pricing potential and material volume-driven revenue growth for Filspari. Article Title
• Positive Sentiment: Multiple brokerages raised ratings/price targets following the approval (examples: Canaccord to $56, Guggenheim to $54, Piper Sandler to $49 overweight, Wedbush to $44, HC Wainwright reaffirmed buy). These upgrades signal increased analyst confidence in TAM expansion and revenue trajectory. Article Title
• Neutral Sentiment: Guggenheim issued a positive forecast note on TVTX that accompanies their price-target lift; this is incremental institutional support but not a guarantee of sustained momentum. Article Title
• Neutral Sentiment: Unusually high options activity and elevated trading volume were reported around the approval-related move, indicating heightened short-term speculation and positioning that can amplify volatility. Article Title
• Neutral Sentiment: Company-hosted commentary/transcripts and mainstream coverage (Seeking Alpha slides/transcript, MSN health reports) are providing more detail on label scope and commercial plans; useful for modeling uptake but not yet concrete sales figures. Article Title
• Negative Sentiment: Some analysts caution that recent earnings-estimate revision trends may limit further near-term upside despite the approval; elevated expectations and heavy short-term speculative flows raise the risk of a pullback or consolidation. Article Title

Travere Therapeutics Company Profile

Travere Therapeutics, Inc (NASDAQ: TVTX) is a biopharmaceutical company headquartered in San Diego, California, dedicated to the development and commercialization of therapies for rare kidney and genetic disorders. The company’s mission is to address unmet needs in conditions with limited treatment options by focusing on diseases that affect small patient populations. Travere combines research, development and commercial capabilities to bring innovative medicines to market.

The company’s lead product is sparsentan, a dual endothelin angiotensin receptor antagonist that has received accelerated approval from the U.S.