Travere Therapeutics (NASDAQ:TVTX) Price Target Raised to $47.00

Travere Therapeutics (NASDAQ:TVTX) had its target price boosted by Canaccord Genuity Group from $45.00 to $47.00 in a research note released on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other research analysts have also issued research reports about the stock. Citigroup increased their target price on shares of Travere Therapeutics from $31.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, February 24th. Evercore ISI increased their price objective on Travere Therapeutics from $33.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. upped their price objective on Travere Therapeutics from $42.00 to $44.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Travere Therapeutics in a research note on Thursday, April 3rd. Finally, HC Wainwright increased their price objective on Travere Therapeutics from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Travere Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $31.62.

Travere Therapeutics Price Performance

NASDAQ:TVTX opened at $14.50 on Thursday. The stock has a 50 day moving average of $19.60 and a two-hundred day moving average of $18.57. Travere Therapeutics has a 12 month low of $5.12 and a 12 month high of $25.29. The firm has a market cap of $1.29 billion, a P/E ratio of -3.54 and a beta of 0.84. 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 (NASDAQ:TVTX) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.15). The business had revenue of $74.79 million for the quarter, compared to analyst estimates of $72.38 million. Travere Therapeutics had a negative return on equity of 1,636.87% and a negative net margin of 137.90%. On average, analysts expect that Travere Therapeutics will post -1.4 earnings per share for the current fiscal year.

Insider Buying and Selling at Travere Therapeutics

In other news, SVP William E. Rote sold 5,200 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $23.53, for a total transaction of $122,356.00. Following the completion of the sale, the senior vice president now directly owns 98,519 shares in the company, valued at $2,318,152.07. This trade represents a 5.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Sandra Calvin sold 54,244 shares of Travere Therapeutics stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $25.00, for a total transaction of $1,356,100.00. Following the completion of the sale, the chief accounting officer now owns 54,410 shares of the company’s stock, valued at approximately $1,360,250. This trade represents a 49.92 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 188,829 shares of company stock worth $4,146,997. Corporate insiders own 4.06% of the company’s stock.

Institutional Investors Weigh In On Travere Therapeutics

A number of institutional investors have recently made changes to their positions in TVTX. Rock Springs Capital Management LP boosted its stake in Travere Therapeutics by 6.2% during the 4th quarter. Rock Springs Capital Management LP now owns 4,973,649 shares of the company’s stock valued at $86,641,000 after purchasing an additional 289,173 shares during the period. Renaissance Technologies LLC grew its stake in Travere Therapeutics by 28.5% during the 4th quarter. Renaissance Technologies LLC now owns 2,409,514 shares of the company’s stock valued at $41,974,000 after acquiring an additional 534,500 shares in the last quarter. Driehaus Capital Management LLC boosted its position in Travere Therapeutics by 608.1% during the fourth quarter. Driehaus Capital Management LLC now owns 2,217,975 shares of the company’s stock valued at $38,637,000 after purchasing an additional 1,904,733 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of Travere Therapeutics by 36.7% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,174,213 shares of the company’s stock worth $37,875,000 after purchasing an additional 583,836 shares during the last quarter. Finally, Emerald Advisers LLC raised its holdings in shares of Travere Therapeutics by 8.4% during the 4th quarter. Emerald Advisers LLC now owns 2,125,744 shares of the company’s stock valued at $37,030,000 after purchasing an additional 165,085 shares in the last quarter.

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.