Barclays Boosts Travere Therapeutics (NASDAQ:TVTX) Price Target to $20.00

Travere Therapeutics (NASDAQ:TVTX) had its target price lifted by Barclays from $18.00 to $20.00 in a research note published on Friday morning, Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other analysts also recently commented on the company. Canaccord Genuity Group dropped their price objective on Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. HC Wainwright decreased their price objective on Travere Therapeutics from $23.00 to $18.00 and set a “buy” rating for the company in a report on Friday, September 27th. JPMorgan Chase & Co. raised their price objective on Travere Therapeutics from $20.00 to $23.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Scotiabank initiated coverage on Travere Therapeutics in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $23.00 price target for the company. Finally, Piper Sandler lifted their price target on Travere Therapeutics from $11.00 to $12.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Travere Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $21.85.

Travere Therapeutics Stock Up 3.0 %

Shares of TVTX opened at $18.10 on Friday. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of -3.98 and a beta of 0.70. 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 business’s fifty day moving average price is $14.53 and its two-hundred day moving average price is $10.15. Travere Therapeutics has a 52 week low of $5.12 and a 52 week high of $19.25.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.70) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.01. The company had revenue of $62.90 million for the quarter, compared to the consensus estimate of $60.87 million. Travere Therapeutics had a negative return on equity of 360.96% and a negative net margin of 172.75%. The firm’s quarterly revenue was up 69.6% on a year-over-year basis. During the same quarter in the prior year, the business posted ($1.17) EPS. On average, analysts predict that Travere Therapeutics will post -3.95 earnings per share for the current year.

Insider Transactions at Travere Therapeutics

In other news, CFO Christopher R. Cline sold 2,490 shares of the firm’s 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 $28,684.80. Following the completion of the sale, the chief financial officer now owns 74,595 shares in the company, valued at $859,334.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Travere Therapeutics news, 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 completion of the transaction, the chief executive officer now directly owns 361,975 shares of the company’s stock, valued at $4,169,952. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Christopher R. Cline sold 2,490 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 transaction of $28,684.80. Following the completion of the transaction, the chief financial officer now directly owns 74,595 shares of the company’s stock, valued at approximately $859,334.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 110,707 shares of company stock worth $1,504,312 in the last quarter. Insiders own 3.75% of the company’s stock.

Institutional Trading of Travere Therapeutics

A number of hedge funds have recently made changes to their positions in TVTX. Assenagon Asset Management S.A. lifted its holdings in shares of Travere Therapeutics by 912.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,214,099 shares of the company’s stock worth $18,200,000 after acquiring an additional 1,995,419 shares during the last quarter. Vanguard Group Inc. lifted its stake in Travere Therapeutics by 13.6% in the first quarter. Vanguard Group Inc. now owns 6,265,829 shares of the company’s stock worth $48,310,000 after purchasing an additional 750,686 shares during the last quarter. Millennium Management LLC lifted its stake in Travere Therapeutics by 33.9% in the second quarter. Millennium Management LLC now owns 2,949,335 shares of the company’s stock worth $24,244,000 after purchasing an additional 747,406 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Travere Therapeutics by 203.0% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 615,000 shares of the company’s stock valued at $5,055,000 after acquiring an additional 412,000 shares during the period. Finally, Emerald Advisers LLC increased its position in shares of Travere Therapeutics by 19.8% in the third quarter. Emerald Advisers LLC now owns 1,960,659 shares of the company’s stock valued at $27,430,000 after acquiring an additional 323,513 shares during the period.

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.