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

Travere Therapeutics (NASDAQ:TVTX) had its price target increased by HC Wainwright from $18.00 to $22.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock. HC Wainwright also issued estimates for Travere Therapeutics’ Q4 2024 earnings at ($0.59) EPS, FY2024 earnings at ($3.96) EPS, Q1 2025 earnings at ($0.43) EPS, Q2 2025 earnings at ($0.24) EPS, Q3 2025 earnings at ($0.20) EPS, Q4 2025 earnings at ($0.04) EPS, FY2025 earnings at ($0.90) EPS, FY2026 earnings at ($0.67) EPS, FY2027 earnings at $0.57 EPS, FY2028 earnings at $2.48 EPS and FY2029 earnings at $4.22 EPS.

A number of other research analysts also recently commented on the stock. Cantor Fitzgerald assumed coverage on shares of Travere Therapeutics in a report on Friday, January 10th. They issued an “overweight” rating for the company. Citigroup lowered their price objective on Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, September 27th. Barclays lifted their target price on Travere Therapeutics from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Wedbush increased their price target on Travere Therapeutics from $17.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Finally, Guggenheim lifted their price objective on shares of Travere Therapeutics from $23.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

Travere Therapeutics Stock Performance

NASDAQ:TVTX opened at $18.37 on Wednesday. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68. The company has a market cap of $1.43 billion, a price-to-earnings ratio of -4.04 and a beta of 0.70. Travere Therapeutics has a 1 year low of $5.12 and a 1 year high of $20.33. The stock’s 50 day simple moving average is $18.21 and its two-hundred day simple moving average is $14.47.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.70) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $60.87 million. During the same quarter in the prior year, the firm earned ($1.17) earnings per share. Travere Therapeutics’s revenue was up 69.6% on a year-over-year basis. As a group, equities analysts anticipate that Travere Therapeutics will post -3.92 earnings per share for the current fiscal year.

Insider Transactions at Travere Therapeutics

In related news, CAO Sandra Calvin sold 12,090 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $18.30, for a total value of $221,247.00. Following the sale, the chief accounting officer now owns 54,927 shares in the company, valued at $1,005,164.10. This represents a 18.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jula Inrig sold 2,066 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $19.10, for a total transaction of $39,460.60. Following the completion of the sale, the insider now owns 59,883 shares in the company, valued at $1,143,765.30. The trade was a 3.34 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 29,596 shares of company stock valued at $527,262. Corporate insiders own 3.75% of the company’s stock.

Institutional Investors Weigh In On Travere Therapeutics

Hedge funds have recently modified their holdings of the company. Aigen Investment Management LP purchased a new position in Travere Therapeutics during the third quarter valued at $170,000. Oppenheimer & Co. Inc. acquired a new position in shares of Travere Therapeutics during the 3rd quarter worth about $673,000. Millennium Management LLC lifted its stake in Travere Therapeutics by 33.9% in the 2nd quarter. Millennium Management LLC now owns 2,949,335 shares of the company’s stock valued at $24,244,000 after buying an additional 747,406 shares in the last quarter. FMR LLC boosted its holdings in Travere Therapeutics by 27.5% in the 3rd quarter. FMR LLC now owns 147,416 shares of the company’s stock worth $2,062,000 after buying an additional 31,772 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Travere Therapeutics by 18.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 264,816 shares of the company’s stock worth $2,177,000 after buying an additional 41,048 shares during the last quarter.

About Travere Therapeutics

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.