Travere Therapeutics (NASDAQ:TVTX) Upgraded at Wells Fargo & Company

Travere Therapeutics (NASDAQ:TVTX) was upgraded by equities researchers at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a $27.00 target price on the stock, up from their prior target price of $9.00. Wells Fargo & Company‘s price objective would suggest a potential upside of 51.09% from the company’s current price.

A number of other research analysts also recently issued reports on the company. Piper Sandler upped their price target on Travere Therapeutics from $11.00 to $12.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Wedbush raised their price target on shares of Travere Therapeutics from $17.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Barclays boosted their price objective on shares of Travere Therapeutics from $14.00 to $18.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Citigroup cut their target price on shares of Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, September 27th. Finally, Canaccord Genuity Group reduced their price objective on Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $21.38.

Travere Therapeutics Stock Down 2.1 %

TVTX stock opened at $17.87 on Monday. The business has a 50 day moving average of $12.71 and a 200 day moving average of $9.35. The firm has a market cap of $1.36 billion, a PE ratio of -8.51 and a beta of 0.73. Travere Therapeutics has a twelve month low of $5.12 and a twelve month high of $18.82. The company has a quick ratio of 2.99, a current ratio of 3.04 and a debt-to-equity ratio of 24.96.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.90) earnings per share 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 for the quarter, compared to the consensus estimate of $49.50 million. On average, research analysts forecast that Travere Therapeutics will post -3.95 EPS for the current fiscal year.

Insider Buying and Selling

In other Travere Therapeutics news, CEO Eric M. Dube sold 21,125 shares of the firm’s 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 sale, the chief executive officer now directly owns 361,975 shares of the company’s stock, valued at $4,169,952. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Christopher R. Cline sold 2,490 shares of the business’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 directly owns 74,595 shares of the company’s stock, valued at approximately $859,334.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Eric M. Dube sold 21,125 shares of the 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 approximately $4,169,952. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 110,707 shares of company stock valued at $1,504,312. Company insiders own 3.75% of the company’s stock.

Hedge Funds Weigh In On Travere Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of TVTX. Assenagon Asset Management S.A. increased its holdings in Travere Therapeutics by 912.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 2,214,099 shares of the company’s stock valued at $18,200,000 after acquiring an additional 1,995,419 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Travere Therapeutics by 13.6% in the first quarter. Vanguard Group Inc. now owns 6,265,829 shares of the company’s stock worth $48,310,000 after purchasing an additional 750,686 shares during the last quarter. Millennium Management LLC lifted its position in shares of Travere Therapeutics by 33.9% in the second quarter. Millennium Management LLC now owns 2,949,335 shares of the company’s stock worth $24,244,000 after buying an additional 747,406 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Travere Therapeutics by 203.0% during 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 last quarter. Finally, Affinity Asset Advisors LLC bought a new stake in Travere Therapeutics in the 1st quarter worth approximately $964,000.

About Travere Therapeutics

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.