Travere Therapeutics (NASDAQ:TVTX) Shares Gap Up to $8.90

Travere Therapeutics, Inc. (NASDAQ:TVTX)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $8.90, but opened at $9.14. Travere Therapeutics shares last traded at $9.08, with a volume of 23,302 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on TVTX shares. Canaccord Genuity Group raised their price objective on Travere Therapeutics from $15.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Wedbush raised their price target on Travere Therapeutics from $13.00 to $16.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. HC Wainwright raised their price target on Travere Therapeutics from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. raised their price target on Travere Therapeutics from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. Finally, Piper Sandler raised their price target on Travere Therapeutics from $11.00 to $12.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.67.

Travere Therapeutics Trading Up 0.4 %

The company has a 50 day moving average of $8.72 and a two-hundred day moving average of $7.73. The company has a debt-to-equity ratio of 24.96, a quick ratio of 2.99 and a current ratio of 3.04. The stock has a market capitalization of $683.82 million, a PE ratio of -4.24 and a beta of 0.77.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC increased its stake in Travere Therapeutics by 1,656.4% during the 4th quarter. Signaturefd LLC now owns 3,021 shares of the company’s stock worth $27,000 after buying an additional 2,849 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in Travere Therapeutics during the 1st quarter worth approximately $32,000. DRW Securities LLC purchased a new stake in Travere Therapeutics during the 2nd quarter worth approximately $95,000. Forefront Analytics LLC increased its stake in Travere Therapeutics by 10.2% during the 2nd quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock worth $109,000 after buying an additional 1,237 shares in the last quarter. Finally, Sei Investments Co. purchased a new stake in shares of Travere Therapeutics in the second quarter valued at approximately $117,000.

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.