Travere Therapeutics (NASDAQ:TVTX) Price Target Raised to $31.00 at Bank of America

Travere Therapeutics (NASDAQ:TVTX) had its price objective increased by Bank of America from $29.00 to $31.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s target price would suggest a potential upside of 72.99% from the company’s previous close.

Several other brokerages have also recently commented on TVTX. Citigroup upped their target price on shares of Travere Therapeutics from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, February 24th. HC Wainwright lifted their price objective on Travere Therapeutics from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Cantor Fitzgerald restated an “overweight” rating on shares of Travere Therapeutics in a report on Friday, February 21st. Scotiabank upped their price target on Travere Therapeutics from $27.00 to $32.00 and gave the company a “sector outperform” rating in a research note on Wednesday, February 12th. Finally, JPMorgan Chase & Co. increased their price target on shares of Travere Therapeutics from $42.00 to $44.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $31.46.

Travere Therapeutics Trading Down 8.9 %

Shares of TVTX opened at $17.92 on Tuesday. The stock’s fifty day simple moving average is $20.75 and its 200-day simple moving average is $18.57. The firm has a market capitalization of $1.59 billion, a PE ratio of -4.37 and a beta of 0.75. Travere Therapeutics has a 12-month low of $5.12 and a 12-month high of $25.29. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96.

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

Insider Activity

In related news, SVP William E. Rote sold 5,200 shares of the business’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $23.53, for a total value of $122,356.00. Following the sale, the senior vice president now directly owns 98,519 shares of the company’s stock, valued at approximately $2,318,152.07. The trade was a 5.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Peter Heerma sold 1,584 shares of the company’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $18.94, for a total transaction of $30,000.96. Following the completion of the transaction, the insider now directly owns 106,374 shares of the company’s stock, valued at approximately $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 sold 191,335 shares of company stock worth $4,194,712 over the last quarter. 3.75% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Travere Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of TVTX. GF Fund Management CO. LTD. acquired a new position in Travere Therapeutics during the 4th quarter worth approximately $31,000. Sterling Capital Management LLC lifted its position in shares of Travere Therapeutics by 859.8% in the fourth quarter. Sterling Capital Management LLC now owns 2,361 shares of the company’s stock worth $41,000 after purchasing an additional 2,115 shares in the last quarter. R Squared Ltd acquired a new position in Travere Therapeutics during the fourth quarter worth $53,000. Gen Wealth Partners Inc acquired a new position in Travere Therapeutics during the fourth quarter worth $73,000. Finally, Quarry LP bought a new position in Travere Therapeutics in the third quarter valued at $105,000.

Travere Therapeutics Company Profile

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.