Travere Therapeutics (NASDAQ:TVTX) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Travere Therapeutics (NASDAQ:TVTX) had its price target raised by analysts at Canaccord Genuity Group from $22.00 to $45.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 89.47% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Piper Sandler raised their target price on shares of Travere Therapeutics from $12.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Cantor Fitzgerald started coverage on shares of Travere Therapeutics in a report on Friday, January 10th. They set an “overweight” rating on the stock. HC Wainwright upped their target price on shares of Travere Therapeutics from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Wells Fargo & Company raised Travere Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $9.00 to $27.00 in a research note on Monday, October 21st. Finally, Scotiabank boosted their price target on Travere Therapeutics from $23.00 to $27.00 and gave the company a “sector outperform” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Travere Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $25.92.

Travere Therapeutics Trading Up 12.6 %

NASDAQ TVTX opened at $23.75 on Wednesday. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68. The stock’s 50-day moving average is $18.98 and its 200-day moving average is $15.90. Travere Therapeutics has a one year low of $5.12 and a one year high of $25.29. The firm has a market cap of $1.85 billion, a P/E ratio of -5.22 and a beta of 0.72.

Insider Activity at Travere Therapeutics

In other Travere Therapeutics news, Director Roy D. Baynes sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $22.00, for a total value of $220,000.00. Following the sale, the director now owns 31,000 shares in the company, valued at $682,000. This represents a 24.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Peter Heerma sold 1,584 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $18.94, for a total value of $30,000.96. Following the transaction, the insider now directly owns 106,374 shares in the company, 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. Over the last three months, insiders sold 144,532 shares of company stock valued at $2,845,498. 4.06% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Travere Therapeutics

A number of institutional investors have recently modified their holdings of TVTX. Emerald Advisers LLC grew its position in Travere Therapeutics by 8.4% during the fourth quarter. Emerald Advisers LLC now owns 2,125,744 shares of the company’s stock worth $37,030,000 after buying an additional 165,085 shares in the last quarter. Finepoint Capital LP lifted its position in Travere Therapeutics by 0.3% during the third quarter. Finepoint Capital LP now owns 1,782,267 shares of the company’s stock worth $24,934,000 after purchasing an additional 5,539 shares during the period. Geode Capital Management LLC grew its stake in Travere Therapeutics by 3.9% during the third quarter. Geode Capital Management LLC now owns 1,731,045 shares of the company’s stock worth $24,222,000 after buying an additional 64,744 shares in the last quarter. Emerald Mutual Fund Advisers Trust grew its stake in Travere Therapeutics by 26.0% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 1,185,709 shares of the company’s stock worth $16,588,000 after buying an additional 244,444 shares in the last quarter. Finally, Parkman Healthcare Partners LLC increased its holdings in Travere Therapeutics by 12.0% in the 3rd quarter. Parkman Healthcare Partners LLC now owns 1,086,067 shares of the company’s stock valued at $15,194,000 after buying an additional 116,175 shares during the period.

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.