Travere Therapeutics (NASDAQ:TVTX) Given New $19.00 Price Target at Citigroup

Travere Therapeutics (NASDAQ:TVTX) had its price objective trimmed by Citigroup from $23.00 to $19.00 in a research report report published on Friday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other research analysts have also issued reports about the company. Canaccord Genuity Group upped their target price on Travere Therapeutics from $18.00 to $23.00 and gave the stock a buy rating in a research report on Tuesday, September 10th. Wedbush upped 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. Bank of America reduced their target price on Travere Therapeutics from $19.00 to $18.00 and set a buy rating for the company in a report on Friday. Piper Sandler boosted their target price on Travere Therapeutics from $11.00 to $12.00 and gave the stock a neutral rating in a report on Friday, August 2nd. Finally, HC Wainwright reduced their target price on Travere Therapeutics from $23.00 to $18.00 and set a buy rating for the company in a report on Friday. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Travere Therapeutics presently has a consensus rating of Moderate Buy and an average target price of $16.73.

Travere Therapeutics Trading Down 0.1 %

Shares of NASDAQ TVTX opened at $13.99 on Friday. The company has a market cap of $1.07 billion, a price-to-earnings ratio of -6.66 and a beta of 0.71. Travere Therapeutics has a 12 month low of $5.12 and a 12 month high of $15.36. 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 business has a fifty day simple moving average of $10.74 and a 200-day simple moving average of $8.49.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($0.03). The business had revenue of $54.12 million for the quarter, compared to analyst estimates 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 predict that Travere Therapeutics will post -3.95 EPS for the current year.

Insider Activity

In other Travere Therapeutics news, Director Jeffrey A. Meckler sold 40,000 shares of the company’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $14.06, for a total value of $562,400.00. Following the sale, the director now directly owns 81,000 shares in the company, valued at $1,138,860. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Travere Therapeutics news, SVP William E. Rote sold 4,387 shares of the business’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 $50,538.24. Following the transaction, the senior vice president now owns 84,455 shares of the company’s stock, valued at $972,921.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jeffrey A. Meckler sold 40,000 shares of the business’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $14.06, for a total value of $562,400.00. Following the completion of the transaction, the director now directly owns 81,000 shares in the company, valued at approximately $1,138,860. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 70,707 shares of company stock worth $915,112. Company insiders own 3.75% of the company’s stock.

Hedge Funds Weigh In On Travere Therapeutics

Large investors have recently made changes to their positions in the company. Assenagon Asset Management S.A. lifted its stake in shares of Travere Therapeutics by 912.5% during the second quarter. Assenagon Asset Management S.A. now owns 2,214,099 shares of the company’s stock valued at $18,200,000 after acquiring an additional 1,995,419 shares during the period. Parkman Healthcare Partners LLC lifted its stake in shares of Travere Therapeutics by 76.4% during the fourth quarter. Parkman Healthcare Partners LLC now owns 1,018,812 shares of the company’s stock valued at $9,159,000 after acquiring an additional 441,318 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Travere Therapeutics by 79.2% during the first quarter. Russell Investments Group Ltd. now owns 184,623 shares of the company’s stock valued at $1,423,000 after acquiring an additional 81,611 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Travere Therapeutics during the first quarter valued at $452,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Travere Therapeutics during the fourth quarter valued at $5,711,000.

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.