Brokerages Set Travere Therapeutics, Inc. (NASDAQ:TVTX) Target Price at $17.85

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) have been assigned an average rating of “Moderate Buy” from the fifteen analysts that are presently covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $18.00.

Several equities analysts recently weighed in on TVTX shares. HC Wainwright lifted their price target on Travere Therapeutics from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Guggenheim reiterated a “neutral” rating on shares of Travere Therapeutics in a research note on Wednesday, March 27th. Wells Fargo & Company boosted their price objective on Travere Therapeutics from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Friday, February 16th. Piper Sandler boosted their price objective on Travere Therapeutics from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Thursday, January 18th. Finally, Wedbush reiterated an “outperform” rating and set a $13.00 price objective on shares of Travere Therapeutics in a research note on Wednesday, April 17th.

Insider Transactions at Travere Therapeutics

In other news, insider Peter Heerma sold 4,195 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $8.53, for a total transaction of $35,783.35. Following the transaction, the insider now directly owns 99,503 shares in the company, valued at approximately $848,760.59. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Christopher R. Cline sold 3,818 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $8.53, for a total value of $32,567.54. Following the transaction, the chief financial officer now directly owns 70,903 shares in the company, valued at $604,802.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Peter Heerma sold 4,195 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $8.53, for a total value of $35,783.35. Following the completion of the transaction, the insider now owns 99,503 shares in the company, valued at $848,760.59. The disclosure for this sale can be found here. Insiders have sold a total of 34,773 shares of company stock worth $300,625 in the last ninety days. Insiders own 4.06% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TVTX. Signaturefd LLC lifted its holdings in Travere Therapeutics by 1,656.4% in the fourth quarter. Signaturefd LLC now owns 3,021 shares of the company’s stock valued at $27,000 after acquiring an additional 2,849 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in Travere Therapeutics by 968.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 5,650 shares of the company’s stock valued at $51,000 after acquiring an additional 5,121 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in Travere Therapeutics by 353.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,690 shares of the company’s stock worth $78,000 after purchasing an additional 6,773 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Travere Therapeutics during the fourth quarter worth $137,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Travere Therapeutics by 32.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,511 shares of the company’s stock worth $148,000 after purchasing an additional 4,007 shares in the last quarter.

Travere Therapeutics Price Performance

Shares of Travere Therapeutics stock opened at $5.53 on Wednesday. The company has a quick ratio of 3.41, a current ratio of 3.47 and a debt-to-equity ratio of 1.88. Travere Therapeutics has a twelve month low of $5.12 and a twelve month high of $22.75. The business has a 50-day moving average price of $7.23 and a 200 day moving average price of $7.64. The firm has a market cap of $420.89 million, a PE ratio of -3.43 and a beta of 0.58.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings results on Thursday, February 15th. The company reported ($1.16) earnings per share for the quarter, beating the consensus estimate of ($1.27) by $0.11. Travere Therapeutics had a negative return on equity of 177.97% and a negative net margin of 56.02%. The firm had revenue of $45.06 million during the quarter, compared to analyst estimates of $41.25 million. Sell-side analysts predict that Travere Therapeutics will post -3.1 earnings per share for the current fiscal year.

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.