Travere Therapeutics (NASDAQ:TVTX) Stock Price Expected to Rise, Bank of America Analyst Says

Travere Therapeutics (NASDAQ:TVTX) had its target price lifted by research analysts at Bank of America from $29.00 to $31.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s target price would suggest a potential upside of 72.80% from the company’s current price.

TVTX has been the subject of several other research reports. Scotiabank increased their target price on shares of Travere Therapeutics from $27.00 to $32.00 and gave the stock a “sector outperform” rating in a report on Wednesday, February 12th. Canaccord Genuity Group raised their price objective on Travere Therapeutics from $22.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. HC Wainwright upped their target price on Travere Therapeutics from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Citigroup raised their price target on Travere Therapeutics from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, February 24th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Travere Therapeutics in a research note on Friday, February 21st. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $31.46.

Travere Therapeutics Stock Up 2.9 %

Shares of TVTX stock opened at $17.94 on Tuesday. Travere Therapeutics has a 12-month low of $5.12 and a 12-month high of $25.29. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96. The firm has a fifty day moving average of $20.68 and a 200-day moving average of $18.59. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of -4.38 and a beta of 0.75.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.15). Travere Therapeutics had a negative return on equity of 1,636.87% and a negative net margin of 137.90%. The firm had revenue of $74.79 million for the quarter, compared to the consensus estimate of $72.38 million. As a group, equities research analysts predict that Travere Therapeutics will post -1.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Travere Therapeutics news, insider Jula Inrig sold 2,066 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $19.10, for a total value of $39,460.60. Following the transaction, the insider now directly owns 59,883 shares of the company’s stock, valued at $1,143,765.30. This represents a 3.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP William E. Rote sold 2,437 shares of Travere Therapeutics stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $19.46, for a total value of $47,424.02. Following the sale, the senior vice president now directly owns 83,170 shares of the company’s stock, valued at $1,618,488.20. This represents a 2.85 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 191,335 shares of company stock valued at $4,194,712. Company insiders own 3.75% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. GF Fund Management CO. LTD. bought a new stake in shares of Travere Therapeutics in the fourth quarter valued at approximately $31,000. Sterling Capital Management LLC grew its stake in Travere Therapeutics by 859.8% during the fourth quarter. Sterling Capital Management LLC now owns 2,361 shares of the company’s stock worth $41,000 after buying an additional 2,115 shares in the last quarter. R Squared Ltd acquired a new stake in Travere Therapeutics during the fourth quarter worth about $53,000. Gen Wealth Partners Inc acquired a new position in shares of Travere Therapeutics in the 4th quarter valued at approximately $73,000. Finally, Quarry LP bought a new stake in shares of Travere Therapeutics during the 3rd quarter worth approximately $105,000.

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.