Travere Therapeutics (NASDAQ:TVTX) PT Raised to $18.00 at Barclays

Travere Therapeutics (NASDAQ:TVTX) had its price objective hoisted by stock analysts at Barclays from $14.00 to $18.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price target would indicate a potential upside of 29.78% from the stock’s current price.

A number of other brokerages have also commented on TVTX. Bank of America decreased their target price on Travere Therapeutics from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, September 27th. Guggenheim decreased their target price on Travere Therapeutics from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Friday, September 27th. Canaccord Genuity Group decreased their price objective on Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating for the company in a report on Monday. JPMorgan Chase & Co. boosted their price objective on Travere Therapeutics from $20.00 to $23.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Finally, HC Wainwright decreased their price objective on Travere Therapeutics from $23.00 to $18.00 and set a “buy” rating for the company in a report on Friday, September 27th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $17.09.

Travere Therapeutics Stock Performance

Shares of Travere Therapeutics stock opened at $13.87 on Tuesday. Travere Therapeutics has a one year low of $5.12 and a one year high of $15.36. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of -6.60 and a beta of 0.73. The business has a 50-day simple moving average of $10.91 and a 200 day simple moving average of $8.58. The company has a debt-to-equity ratio of 24.96, a current ratio of 3.04 and a quick ratio of 2.99.

Travere Therapeutics (NASDAQ:TVTX) last issued its earnings results on Thursday, August 1st. The company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.03). Travere Therapeutics had a negative net margin of 82.14% and a negative return on equity of 269.18%. The firm had revenue of $54.12 million during the quarter, compared to the consensus estimate of $49.50 million. On average, research analysts anticipate that Travere Therapeutics will post -3.95 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Jeffrey A. Meckler sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $14.06, for a total value of $562,400.00. Following the completion of the transaction, the director now directly owns 81,000 shares of the company’s stock, valued at $1,138,860. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Christopher R. Cline sold 2,490 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $11.52, for a total value of $28,684.80. Following the transaction, the chief financial officer now owns 74,595 shares in the company, valued at $859,334.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jeffrey A. Meckler sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $14.06, for a total value of $562,400.00. Following the completion of the transaction, the director now owns 81,000 shares in the company, valued at approximately $1,138,860. The disclosure for this sale can be found here. Insiders sold a total of 70,707 shares of company stock valued at $915,112 over the last three months. Corporate insiders own 3.75% of the company’s stock.

Institutional Investors Weigh In On Travere Therapeutics

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Travere Therapeutics by 13.6% during the first quarter. Vanguard Group Inc. now owns 6,265,829 shares of the company’s stock worth $48,310,000 after acquiring an additional 750,686 shares in the last quarter. Millennium Management LLC lifted its position in shares of Travere Therapeutics by 33.9% during the second quarter. Millennium Management LLC now owns 2,949,335 shares of the company’s stock worth $24,244,000 after acquiring an additional 747,406 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Travere Therapeutics by 912.5% during the second quarter. Assenagon Asset Management S.A. now owns 2,214,099 shares of the company’s stock worth $18,200,000 after acquiring an additional 1,995,419 shares in the last quarter. Kynam Capital Management LP lifted its position in shares of Travere Therapeutics by 105.6% during the fourth quarter. Kynam Capital Management LP now owns 2,000,000 shares of the company’s stock worth $17,980,000 after acquiring an additional 1,027,398 shares in the last quarter. Finally, Parkman Healthcare Partners LLC lifted its position in shares of Travere Therapeutics by 76.4% during the fourth quarter. Parkman Healthcare Partners LLC now owns 1,018,812 shares of the company’s stock worth $9,159,000 after acquiring an additional 441,318 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.