Travere Therapeutics (NASDAQ:TVTX) Shares Gap Up Following Analyst Upgrade

Travere Therapeutics, Inc. (NASDAQ:TVTX) gapped up before the market opened on Wednesday after Bank of America raised their price target on the stock from $18.00 to $20.00. The stock had previously closed at $15.21, but opened at $15.65. Bank of America currently has a buy rating on the stock. Travere Therapeutics shares last traded at $16.44, with a volume of 1,328,089 shares traded.

Other equities research analysts also recently issued research reports about the company. Guggenheim raised their target price on Travere Therapeutics from $23.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday. Barclays raised their price objective on Travere Therapeutics from $14.00 to $18.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Wedbush boosted their target price on Travere Therapeutics from $17.00 to $25.00 and gave the stock an “outperform” rating in a research note on Wednesday. JPMorgan Chase & Co. increased their target price on shares of Travere Therapeutics from $20.00 to $23.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Finally, Citigroup decreased their price target on shares of Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating on the stock in a report on Friday, September 27th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.75.

Insider Activity at Travere Therapeutics

In other Travere Therapeutics news, CEO Eric M. Dube sold 21,125 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $243,360.00. Following the sale, the chief executive officer now directly owns 361,975 shares of the company’s stock, valued at $4,169,952. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Travere Therapeutics news, CEO Eric M. Dube sold 21,125 shares of Travere Therapeutics stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $243,360.00. Following the transaction, the chief executive officer now directly owns 361,975 shares of the company’s stock, valued at approximately $4,169,952. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gary A. Lyons sold 40,000 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $14.73, for a total value of $589,200.00. Following the completion of the sale, the director now owns 51,000 shares in the company, valued at $751,230. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 110,707 shares of company stock worth $1,504,312 in the last quarter. 3.75% of the stock is owned by insiders.

Institutional Trading of Travere Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TVTX. CWM LLC lifted its position in shares of Travere Therapeutics by 158.5% in the 3rd quarter. CWM LLC now owns 4,999 shares of the company’s stock worth $70,000 after purchasing an additional 3,065 shares during the period. Diversified Trust Co bought a new position in Travere Therapeutics during the third quarter worth $161,000. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Travere Therapeutics by 203.0% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 615,000 shares of the company’s stock valued at $5,055,000 after buying an additional 412,000 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in Travere Therapeutics in the second quarter valued at $291,000. Finally, Forefront Analytics LLC boosted its position in Travere Therapeutics by 10.2% during the second quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock valued at $109,000 after acquiring an additional 1,237 shares during the last quarter.

Travere Therapeutics Stock Performance

The stock has a fifty day simple moving average of $11.63 and a two-hundred day simple moving average of $8.90. The company has a debt-to-equity ratio of 24.96, a quick ratio of 2.99 and a current ratio of 3.04. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of -8.15 and a beta of 0.73.

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

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.