Travere Therapeutics (NASDAQ:TVTX) Price Target Raised to $22.00

Travere Therapeutics (NASDAQ:TVTX) had its price target boosted by Piper Sandler from $12.00 to $22.00 in a research report released on Thursday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

TVTX has been the topic of several other research reports. Guggenheim increased their price objective on Travere Therapeutics from $23.00 to $41.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. raised their price target on shares of Travere Therapeutics from $20.00 to $23.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. Citigroup cut their price objective on shares of Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating for the company in a report on Friday, September 27th. Barclays increased their target price on shares of Travere Therapeutics from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Finally, HC Wainwright dropped their price target on shares of Travere Therapeutics from $23.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, September 27th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Travere Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $22.62.

Travere Therapeutics Price Performance

TVTX stock opened at $17.72 on Thursday. The business’s 50 day simple moving average is $16.27 and its 200 day simple moving average is $11.01. Travere Therapeutics has a 1-year low of $5.12 and a 1-year high of $20.33. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.70) earnings per share for the quarter, beating the consensus estimate of ($0.71) by $0.01. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 537.74%. The company had revenue of $62.90 million for the quarter, compared to analyst estimates of $60.87 million. During the same period in the prior year, the firm earned ($1.17) earnings per share. The company’s revenue was up 69.6% on a year-over-year basis. As a group, analysts expect that Travere Therapeutics will post -3.93 EPS for the current fiscal year.

Insider Activity

In other news, CFO Christopher R. Cline sold 2,490 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $28,684.80. Following the completion of the transaction, the chief financial officer now directly owns 74,595 shares in the company, valued at approximately $859,334.40. This represents a 3.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eric M. Dube sold 21,125 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $243,360.00. Following the sale, the chief executive officer now directly owns 361,975 shares in the company, valued at approximately $4,169,952. This trade represents a 5.51 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 110,707 shares of company stock worth $1,504,312. Insiders own 3.75% of the company’s stock.

Hedge Funds Weigh In On Travere Therapeutics

Several large investors have recently bought and sold shares of TVTX. Geode Capital Management LLC raised its holdings in Travere Therapeutics by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,731,045 shares of the company’s stock valued at $24,222,000 after buying an additional 64,744 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in shares of Travere Therapeutics by 30.2% during the third quarter. Two Sigma Advisers LP now owns 720,400 shares of the company’s stock worth $10,078,000 after purchasing an additional 167,100 shares during the period. Quarry LP bought a new stake in shares of Travere Therapeutics in the third quarter worth $105,000. Parkman Healthcare Partners LLC raised its position in Travere Therapeutics by 12.0% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 1,086,067 shares of the company’s stock worth $15,194,000 after purchasing an additional 116,175 shares during the last quarter. Finally, Bellevue Group AG acquired a new position in Travere Therapeutics during the 3rd quarter worth about $434,000.

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.