Scotiabank Issues Positive Forecast for Travere Therapeutics (NASDAQ:TVTX) Stock Price

Travere Therapeutics (NASDAQ:TVTX) had its price objective raised by Scotiabank from $27.00 to $32.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a sector outperform rating on the stock.

A number of other research analysts have also weighed in on the company. Cantor Fitzgerald began coverage on Travere Therapeutics in a report on Friday, January 10th. They set an “overweight” rating for the company. Wells Fargo & Company raised shares of Travere Therapeutics from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $9.00 to $27.00 in a report on Monday, October 21st. Piper Sandler increased their target price on shares of Travere Therapeutics from $12.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. HC Wainwright boosted their price target on shares of Travere Therapeutics from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Finally, Evercore ISI increased their price objective on Travere Therapeutics from $33.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Travere Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.77.

Travere Therapeutics Price Performance

Shares of NASDAQ TVTX opened at $23.20 on Wednesday. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. Travere Therapeutics has a fifty-two week low of $5.12 and a fifty-two week high of $25.29. The stock has a fifty day moving average of $19.06 and a 200-day moving average of $15.95.

Insider Activity

In other news, CAO Sandra Calvin sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $17.22, for a total value of $258,300.00. Following the transaction, the chief accounting officer now owns 54,927 shares in the company, valued at approximately $945,842.94. This trade represents a 21.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP William E. Rote sold 2,437 shares of the company’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $19.46, for a total transaction of $47,424.02. Following the sale, the senior vice president now owns 83,170 shares of the company’s stock, valued at $1,618,488.20. This represents a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 218,425 shares of company stock valued at $4,674,259. 3.75% of the stock is currently owned by insiders.

Institutional Trading of Travere Therapeutics

A number of institutional investors have recently modified their holdings of the company. R Squared Ltd purchased a new position in Travere Therapeutics during the 4th quarter valued at about $53,000. CWM LLC grew its position in shares of Travere Therapeutics by 158.5% in the 3rd quarter. CWM LLC now owns 4,999 shares of the company’s stock worth $70,000 after buying an additional 3,065 shares during the last quarter. Quarry LP bought a new position in shares of Travere Therapeutics during the third quarter valued at approximately $105,000. Victory Capital Management Inc. bought a new position in Travere Therapeutics in the 4th quarter worth $182,000. Finally, Baader Bank Aktiengesellschaft purchased a new stake in shares of Travere Therapeutics in the 4th quarter worth about $192,000.

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.