Guggenheim Trims Travere Therapeutics (NASDAQ:TVTX) Target Price to $23.00

Travere Therapeutics (NASDAQ:TVTX) had its price objective reduced by Guggenheim from $25.00 to $23.00 in a report released on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages also recently issued reports on TVTX. Canaccord Genuity Group increased their price objective on Travere Therapeutics from $18.00 to $23.00 and gave the stock a buy rating in a research report on Tuesday, September 10th. Piper Sandler raised their price target on Travere Therapeutics from $11.00 to $12.00 and gave the company a neutral rating in a report on Friday, August 2nd. Barclays boosted their price objective on Travere Therapeutics from $12.00 to $14.00 and gave the stock an overweight rating in a report on Friday, August 2nd. Citigroup upped their price objective on shares of Travere Therapeutics from $14.00 to $23.00 and gave the stock a buy rating in a research report on Friday, September 6th. Finally, Wedbush lifted their target price on shares of Travere Therapeutics from $13.00 to $16.00 and gave the company an outperform rating in a research report on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Travere Therapeutics presently has an average rating of Moderate Buy and an average price target of $16.82.

Travere Therapeutics Trading Down 6.8 %

Shares of TVTX stock opened at $14.01 on Friday. The company has a quick ratio of 2.99, a current ratio of 3.04 and a debt-to-equity ratio of 24.96. The firm has a market cap of $1.07 billion, a P/E ratio of -6.67 and a beta of 0.71. The company has a 50 day moving average of $10.66 and a 200-day moving average of $8.45. Travere Therapeutics has a 12-month low of $5.12 and a 12-month high of $15.36.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.87) by ($0.03). The business had revenue of $54.12 million during the quarter, compared to the consensus estimate of $49.50 million. Travere Therapeutics had a negative net margin of 82.14% and a negative return on equity of 269.18%. Sell-side analysts anticipate that Travere Therapeutics will post -3.95 earnings per share for the current year.

Insider Buying and Selling at Travere Therapeutics

In other news, CEO Eric M. Dube sold 21,125 shares of Travere Therapeutics stock in a transaction that occurred on 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 sale, the chief executive officer now owns 361,975 shares of the company’s stock, valued at $4,169,952. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Eric M. Dube sold 21,125 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $243,360.00. Following the completion of the sale, the chief executive officer now directly owns 361,975 shares of the company’s stock, valued at $4,169,952. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Christopher R. Cline sold 2,490 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $11.52, for a total value of $28,684.80. Following the sale, the chief financial officer now owns 74,595 shares of the company’s stock, valued at approximately $859,334.40. The disclosure for this sale can be found here. Insiders sold 30,707 shares of company stock worth $352,712 over the last 90 days. Company insiders own 3.75% of the company’s stock.

Institutional Trading of Travere Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Crestline Management LP lifted its stake in Travere Therapeutics by 32.6% in the 4th quarter. Crestline Management LP now owns 81,423 shares of the company’s stock worth $732,000 after purchasing an additional 20,002 shares in the last quarter. Finepoint Capital LP lifted its position in Travere Therapeutics by 60.2% during the fourth quarter. Finepoint Capital LP now owns 1,435,321 shares of the company’s stock worth $12,904,000 after buying an additional 539,500 shares in the last quarter. Rafferty Asset Management LLC boosted its stake in Travere Therapeutics by 18.6% during the fourth quarter. Rafferty Asset Management LLC now owns 429,161 shares of the company’s stock worth $3,858,000 after buying an additional 67,168 shares during the last quarter. Sectoral Asset Management Inc. purchased a new stake in Travere Therapeutics in the 4th quarter valued at $2,469,000. Finally, Kynam Capital Management LP increased its stake in shares of Travere Therapeutics by 105.6% in the 4th quarter. Kynam Capital Management LP now owns 2,000,000 shares of the company’s stock worth $17,980,000 after acquiring an additional 1,027,398 shares during the last quarter.

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.