Travere Therapeutics (NASDAQ:TVTX) Price Target Raised to $35.00

Travere Therapeutics (NASDAQ:TVTX) had its price target boosted by Citigroup from $31.00 to $35.00 in a research report report published on Monday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also recently issued reports on TVTX. Piper Sandler boosted their target price on Travere Therapeutics from $12.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Cantor Fitzgerald reissued an “overweight” rating on shares of Travere Therapeutics in a research report on Friday, February 21st. Evercore ISI upped their price objective on shares of Travere Therapeutics from $33.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Canaccord Genuity Group lifted their target price on shares of Travere Therapeutics from $22.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Finally, Scotiabank increased their price target on shares of Travere Therapeutics from $27.00 to $32.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, February 12th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $30.62.

Travere Therapeutics Price Performance

Shares of Travere Therapeutics stock opened at $21.03 on Monday. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of -5.13 and a beta of 0.72. The company has a fifty day moving average of $19.90 and a 200-day moving average of $16.89. Travere Therapeutics has a 52-week low of $5.12 and a 52-week high of $25.29. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($0.73) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.15). The company had revenue of $74.79 million during the quarter, compared to analysts’ expectations of $72.38 million. Travere Therapeutics had a negative return on equity of 1,636.87% and a negative net margin of 137.90%. Equities research analysts expect that Travere Therapeutics will post -1.4 EPS for the current year.

Insider Buying and Selling

In other Travere Therapeutics news, SVP William E. Rote sold 2,437 shares of the business’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $19.46, for a total value of $47,424.02. Following the sale, the senior vice president now directly owns 83,170 shares of the company’s stock, valued at approximately $1,618,488.20. The trade was a 2.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Peter Heerma sold 1,584 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $18.94, for a total value of $30,000.96. Following the transaction, the insider now owns 106,374 shares of the company’s stock, valued at $2,014,723.56. The trade was a 1.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 206,335 shares of company stock worth $4,453,012 in the last 90 days. Insiders own 4.06% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. GF Fund Management CO. LTD. bought a new stake in shares of Travere Therapeutics during the fourth quarter valued at approximately $31,000. Public Employees Retirement System of Ohio boosted its stake in Travere Therapeutics by 102.0% during the 4th quarter. Public Employees Retirement System of Ohio now owns 102,756 shares of the company’s stock valued at $1,790,000 after purchasing an additional 51,876 shares during the last quarter. Voloridge Investment Management LLC boosted its stake in Travere Therapeutics by 33.6% during the 4th quarter. Voloridge Investment Management LLC now owns 1,007,197 shares of the company’s stock valued at $17,545,000 after purchasing an additional 253,402 shares during the last quarter. Twinbeech Capital LP bought a new stake in shares of Travere Therapeutics in the 4th quarter worth $177,000. Finally, Two Sigma Advisers LP raised its stake in shares of Travere Therapeutics by 34.3% in the fourth quarter. Two Sigma Advisers LP now owns 967,500 shares of the company’s stock worth $16,854,000 after purchasing an additional 247,100 shares during the last quarter.

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.