Analysts Set Travere Therapeutics, Inc. (NASDAQ:TVTX) Price Target at $52.08

Travere Therapeutics, Inc. (NASDAQ:TVTX) has earned an average rating of “Moderate Buy” from the thirteen analysts that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $52.0833.

A number of equities analysts have commented on the company. Canaccord Genuity Group lifted their price target on Travere Therapeutics from $47.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, April 14th. Weiss Ratings lowered Travere Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 23rd. JPMorgan Chase & Co. cut their target price on shares of Travere Therapeutics from $44.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, March 25th. Wall Street Zen downgraded shares of Travere Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Wedbush upped their price target on shares of Travere Therapeutics from $55.00 to $61.00 and gave the company an “outperform” rating in a report on Monday, June 22nd.

Insiders Place Their Bets

In other news, Director Roy D. Baynes sold 4,500 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $50.00, for a total transaction of $225,000.00. Following the completion of the sale, the director directly owned 41,500 shares in the company, valued at approximately $2,075,000. This represents a 9.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Timothy Coughlin sold 10,000 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $50.07, for a total value of $500,700.00. Following the completion of the sale, the director directly owned 56,250 shares in the company, valued at $2,816,437.50. The trade was a 15.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 324,515 shares of company stock worth $13,854,428. 4.44% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Travere Therapeutics by 13.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,777 shares of the company’s stock worth $1,029,000 after buying an additional 6,831 shares during the last quarter. Norges Bank purchased a new stake in Travere Therapeutics in the second quarter worth $1,051,000. First Trust Advisors LP purchased a new stake in Travere Therapeutics in the second quarter worth $3,538,000. Cresset Asset Management LLC boosted its holdings in Travere Therapeutics by 26.5% in the second quarter. Cresset Asset Management LLC now owns 28,875 shares of the company’s stock valued at $427,000 after acquiring an additional 6,047 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its holdings in Travere Therapeutics by 106.2% in the second quarter. Qube Research & Technologies Ltd now owns 604,128 shares of the company’s stock valued at $8,941,000 after acquiring an additional 311,137 shares in the last quarter.

Travere Therapeutics Stock Up 0.6%

Shares of NASDAQ:TVTX opened at $57.85 on Friday. The stock’s 50-day moving average price is $48.66 and its 200-day moving average price is $37.81. Travere Therapeutics has a 12-month low of $14.69 and a 12-month high of $60.10. The stock has a market capitalization of $5.38 billion, a P/E ratio of -251.51 and a beta of 1.10. The company has a current ratio of 3.13, a quick ratio of 3.08 and a debt-to-equity ratio of 3.16.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings data on Monday, May 4th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.24) by $0.29. The firm had revenue of $127.20 million for the quarter, compared to the consensus estimate of $136.23 million. Travere Therapeutics had a negative return on equity of 26.16% and a negative net margin of 4.00%.The company’s quarterly revenue was up 55.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.47) earnings per share. On average, equities analysts anticipate that Travere Therapeutics will post -0.25 earnings per share for the current year.

About Travere Therapeutics

Travere Therapeutics, Inc (NASDAQ: TVTX) is a biopharmaceutical company headquartered in San Diego, California, dedicated to the development and commercialization of therapies for rare kidney and genetic disorders. The company’s mission is to address unmet needs in conditions with limited treatment options by focusing on diseases that affect small patient populations. Travere combines research, development and commercial capabilities to bring innovative medicines to market.

The company’s lead product is sparsentan, a dual endothelin angiotensin receptor antagonist that has received accelerated approval from the U.S.