Travere Therapeutics (NASDAQ:TVTX) Price Target Increased to $41.00 by Analysts at Guggenheim

Travere Therapeutics (NASDAQ:TVTX) had its target price hoisted by Guggenheim from $23.00 to $41.00 in a research note issued to investors on Wednesday, Benzinga reports. Guggenheim currently has a buy rating on the stock.

Other equities analysts have also issued research reports about the company. Canaccord Genuity Group dropped their target price on Travere Therapeutics from $23.00 to $22.00 and set a buy rating on the stock in a report on Monday, September 30th. HC Wainwright decreased their target price on Travere Therapeutics from $23.00 to $18.00 and set a buy rating for the company in a research note on Friday, September 27th. Piper Sandler increased their price target on shares of Travere Therapeutics from $11.00 to $12.00 and gave the company a neutral rating in a research note on Friday, August 2nd. Barclays boosted their price objective on shares of Travere Therapeutics from $14.00 to $18.00 and gave the stock an overweight rating in a research report on Tuesday, October 1st. Finally, Wedbush increased their target price on shares of Travere Therapeutics from $17.00 to $25.00 and gave the company an outperform rating in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $19.75.

Travere Therapeutics Price Performance

TVTX stock opened at $16.41 on Wednesday. The business’s 50-day moving average is $11.78 and its two-hundred day moving average is $8.96. The company has a debt-to-equity ratio of 24.96, a current ratio of 3.04 and a quick ratio of 2.99. The firm has a market capitalization of $1.26 billion, a P/E ratio of -8.73 and a beta of 0.73. Travere Therapeutics has a 1 year low of $5.12 and a 1 year high of $18.60.

Travere Therapeutics (NASDAQ:TVTX) last issued its earnings results on Thursday, August 1st. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $49.50 million. Analysts anticipate that Travere Therapeutics will post -3.95 earnings per share for the current fiscal year.

Insider Buying and Selling at Travere Therapeutics

In other news, Director Jeffrey A. Meckler sold 40,000 shares of the business’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 transaction, the director now owns 81,000 shares of the company’s stock, valued at approximately $1,138,860. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Eric M. Dube sold 21,125 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $243,360.00. Following the completion of the transaction, the chief executive officer now directly owns 361,975 shares of the company’s stock, valued at $4,169,952. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jeffrey A. Meckler sold 40,000 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $14.06, for a total transaction of $562,400.00. Following the completion of the sale, the director now owns 81,000 shares of the company’s stock, valued at approximately $1,138,860. The trade was 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 valued at $1,504,312 in the last ninety days. Insiders own 3.75% of the company’s stock.

Institutional Trading of Travere Therapeutics

Several hedge funds have recently modified their holdings of the business. Creative Planning grew its holdings in Travere Therapeutics by 4.3% during the third quarter. Creative Planning now owns 23,938 shares of the company’s stock worth $335,000 after acquiring an additional 995 shares during the period. CWM LLC boosted its position in shares of Travere Therapeutics by 158.5% during 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 in the last quarter. Diversified Trust Co acquired a new position in shares of Travere Therapeutics during the 3rd quarter worth $161,000. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Travere Therapeutics by 203.0% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 615,000 shares of the company’s stock valued at $5,055,000 after purchasing an additional 412,000 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Travere Therapeutics during the second quarter worth about $291,000.

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.