Travere Therapeutics, Inc. (NASDAQ:TVTX) Receives $38.17 Average PT from Brokerages

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) have earned a consensus rating of “Moderate Buy” from the fifteen ratings firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and eleven have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $38.3846.

A number of analysts have weighed in on the stock. Piper Sandler raised their price objective on shares of Travere Therapeutics from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, February 6th. JPMorgan Chase & Co. cut their price target on shares of Travere Therapeutics from $44.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 25th. Guggenheim reissued a “buy” rating and issued a $49.00 price target on shares of Travere Therapeutics in a research report on Wednesday, January 14th. Weiss Ratings restated a “sell (e+)” rating on shares of Travere Therapeutics in a research note on Wednesday, January 21st. Finally, Wall Street Zen lowered Travere Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 21st.

Insider Activity

In related news, insider Elizabeth E. Reed sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $27.34, for a total transaction of $273,400.00. Following the transaction, the insider owned 90,270 shares in the company, valued at $2,467,981.80. This trade represents a 9.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Christopher R. Cline sold 7,242 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $32.12, for a total value of $232,613.04. Following the completion of the sale, the chief financial officer owned 112,971 shares of the company’s stock, valued at approximately $3,628,628.52. This represents a 6.02% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 234,543 shares of company stock worth $7,368,175 over the last ninety days. 4.19% of the stock is owned by corporate insiders.

Institutional Trading of Travere Therapeutics

A number of large investors have recently bought and sold shares of the business. Arizona State Retirement System lifted its position in Travere Therapeutics by 1.5% in the third quarter. Arizona State Retirement System now owns 24,964 shares of the company’s stock valued at $597,000 after purchasing an additional 375 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of Travere Therapeutics by 69.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the company’s stock worth $45,000 after buying an additional 487 shares in the last quarter. Comerica Bank raised its stake in shares of Travere Therapeutics by 77.5% during the 4th quarter. Comerica Bank now owns 1,127 shares of the company’s stock worth $43,000 after buying an additional 492 shares in the last quarter. Prudential Financial Inc. lifted its holdings in shares of Travere Therapeutics by 0.3% in the 2nd quarter. Prudential Financial Inc. now owns 244,256 shares of the company’s stock valued at $3,615,000 after buying an additional 615 shares during the period. Finally, ProShare Advisors LLC boosted its stake in shares of Travere Therapeutics by 4.1% in the fourth quarter. ProShare Advisors LLC now owns 19,007 shares of the company’s stock valued at $726,000 after buying an additional 756 shares in the last quarter.

Travere Therapeutics Price Performance

TVTX stock opened at $27.25 on Wednesday. The business has a 50 day moving average price of $29.07 and a 200 day moving average price of $30.68. The stock has a market cap of $2.51 billion, a price-to-earnings ratio of -90.83 and a beta of 0.81. Travere Therapeutics has a fifty-two week low of $12.91 and a fifty-two week high of $42.13. The company has a quick ratio of 2.70, a current ratio of 2.74 and a debt-to-equity ratio of 2.71.

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.