Travere Therapeutics (NASDAQ:TVTX) Given New $45.00 Price Target at Evercore ISI

Travere Therapeutics (NASDAQ:TVTX) had its price target boosted by investment analysts at Evercore ISI from $33.00 to $45.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Evercore ISI’s price target suggests a potential upside of 86.07% from the stock’s previous close.

A number of other equities analysts have also issued reports on the company. Canaccord Genuity Group increased their price objective on Travere Therapeutics from $22.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday. HC Wainwright increased their price target on Travere Therapeutics from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Barclays lifted their price objective on shares of Travere Therapeutics from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Wells Fargo & Company raised shares of Travere Therapeutics from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $9.00 to $27.00 in a report on Monday, October 21st. Finally, Piper Sandler raised their target price on shares of Travere Therapeutics from $12.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Travere Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.38.

Travere Therapeutics Trading Up 1.8 %

Travere Therapeutics stock opened at $24.19 on Wednesday. The firm has a 50-day moving average price of $18.98 and a two-hundred day moving average price of $15.90. Travere Therapeutics has a 52-week low of $5.12 and a 52-week high of $25.29. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of -5.28 and a beta of 0.72. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96.

Insider Activity

In related news, CAO Sandra Calvin sold 3,348 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $20.12, for a total transaction of $67,361.76. Following the transaction, the chief accounting officer now owns 63,654 shares in the company, valued at $1,280,718.48. This represents a 5.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Roy D. Baynes sold 10,000 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $22.00, for a total transaction of $220,000.00. Following the completion of the sale, the director now owns 31,000 shares of the company’s stock, valued at $682,000. The trade was a 24.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 144,532 shares of company stock valued at $2,845,498 over the last 90 days. 4.06% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Travere Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. R Squared Ltd acquired a new position in Travere Therapeutics during the 4th quarter valued at about $53,000. CWM LLC raised its stake in shares of Travere Therapeutics by 158.5% during the third quarter. CWM LLC now owns 4,999 shares of the company’s stock worth $70,000 after buying an additional 3,065 shares during the last quarter. Quarry LP acquired a new position in Travere Therapeutics in the third quarter valued at approximately $105,000. Victory Capital Management Inc. bought a new position in Travere Therapeutics in the fourth quarter valued at approximately $182,000. Finally, Baader Bank Aktiengesellschaft acquired a new stake in Travere Therapeutics during the 4th quarter worth $192,000.

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.