Travere Therapeutics, Inc. (NASDAQ:TVTX) Given Average Rating of “Moderate Buy” by Analysts

Travere Therapeutics, Inc. (NASDAQ:TVTX) has been given an average recommendation of “Moderate Buy” by the fourteen ratings firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $38.1667.

Several research firms have recently issued reports on TVTX. Guggenheim reaffirmed a “buy” rating and issued a $49.00 price objective on shares of Travere Therapeutics in a research note on Wednesday, January 14th. TD Cowen reaffirmed a “buy” rating on shares of Travere Therapeutics in a research note on Friday, October 31st. Citigroup boosted their price objective on shares of Travere Therapeutics from $34.00 to $48.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Wall Street Zen lowered shares of Travere Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 21st. Finally, Piper Sandler lifted their price target on shares of Travere Therapeutics from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, February 6th.

Insider Transactions at Travere Therapeutics

In other news, insider Elizabeth E. Reed sold 2,994 shares of Travere Therapeutics stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $32.18, for a total transaction of $96,346.92. Following the completion of the sale, the insider directly owned 105,211 shares in the company, valued at approximately $3,385,689.98. This trade represents a 2.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Christopher R. Cline sold 1,745 shares of the business’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $32.19, for a total transaction of $56,171.55. Following the sale, the chief financial officer directly owned 111,226 shares of the company’s stock, valued at $3,580,364.94. This represents a 1.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 331,925 shares of company stock valued at $11,318,755. Company insiders own 4.19% of the company’s stock.

Institutional Investors Weigh In On Travere Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TVTX. Arizona State Retirement System grew its stake in Travere Therapeutics by 1.5% in the 3rd quarter. Arizona State Retirement System now owns 24,964 shares of the company’s stock worth $597,000 after acquiring an additional 375 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Travere Therapeutics by 69.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the company’s stock valued at $45,000 after purchasing an additional 487 shares during the period. Comerica Bank grew its stake in Travere Therapeutics by 77.5% in the fourth quarter. Comerica Bank now owns 1,127 shares of the company’s stock worth $43,000 after purchasing an additional 492 shares in the last quarter. Prudential Financial Inc. increased its holdings in Travere Therapeutics by 0.3% during the 2nd quarter. Prudential Financial Inc. now owns 244,256 shares of the company’s stock worth $3,615,000 after purchasing an additional 615 shares during the period. Finally, ProShare Advisors LLC raised its position in Travere Therapeutics by 4.1% during the 4th quarter. ProShare Advisors LLC now owns 19,007 shares of the company’s stock valued at $726,000 after purchasing an additional 756 shares in the last quarter.

Travere Therapeutics Stock Up 0.2%

Shares of NASDAQ TVTX opened at $29.79 on Friday. The company has a current ratio of 2.74, a quick ratio of 2.70 and a debt-to-equity ratio of 2.71. Travere Therapeutics has a 12-month low of $12.91 and a 12-month high of $42.13. The firm’s 50-day moving average price is $32.22 and its 200-day moving average price is $29.30. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of -99.30, a P/E/G ratio of 25.28 and a beta of 0.83.

About Travere Therapeutics

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.