Bank of America Issues Positive Forecast for Travere Therapeutics (NASDAQ:TVTX) Stock Price

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) had its price objective boosted by stock analysts at Bank of America from $29.00 to $31.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Bank of America's target price would suggest a potential upside of 106.80% from the stock's previous close.

A number of other research firms have also recently commented on TVTX. Evercore ISI raised their price target on shares of Travere Therapeutics from $33.00 to $45.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Canaccord Genuity Group boosted their target price on Travere Therapeutics from $22.00 to $45.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. Citigroup increased their price target on Travere Therapeutics from $31.00 to $35.00 and gave the stock a "buy" rating in a report on Monday, February 24th. JPMorgan Chase & Co. boosted their price objective on Travere Therapeutics from $42.00 to $44.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. Finally, HC Wainwright upped their target price 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 stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $31.46.

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Travere Therapeutics Trading Down 9.5 %

Travere Therapeutics stock traded down $1.57 during mid-day trading on Tuesday, hitting $14.99. 2,863,638 shares of the stock were exchanged, compared to its average volume of 1,499,929. The firm's fifty day simple moving average is $20.59 and its two-hundred day simple moving average is $18.58. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96. Travere Therapeutics has a 12 month low of $5.12 and a 12 month high of $25.29. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of -3.66 and a beta of 0.84.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.15). The business had revenue of $74.79 million during the quarter, compared to analyst estimates of $72.38 million. Travere Therapeutics had a negative net margin of 137.90% and a negative return on equity of 1,636.87%. Analysts forecast that Travere Therapeutics will post -1.4 EPS for the current year.

Insider Buying and Selling

In other Travere Therapeutics news, SVP William E. Rote sold 5,200 shares of the business's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $23.53, for a total value of $122,356.00. Following the transaction, the senior vice president now owns 98,519 shares of the company's stock, valued at approximately $2,318,152.07. The trade was a 5.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Sandra Calvin sold 3,348 shares of the company's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $20.12, for a total value of $67,361.76. Following the completion of the transaction, the chief accounting officer now owns 63,654 shares of the company's stock, valued at $1,280,718.48. This trade represents a 5.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 189,269 shares of company stock worth $4,155,251. 3.75% of the stock is owned by insiders.

Institutional Trading of Travere Therapeutics

Several hedge funds have recently added to or reduced their stakes in TVTX. Rock Springs Capital Management LP increased its stake in shares of 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 worth $86,641,000 after purchasing an additional 289,173 shares during the last quarter. Renaissance Technologies LLC increased its position in Travere Therapeutics by 28.5% in the fourth quarter. Renaissance Technologies LLC now owns 2,409,514 shares of the company's stock worth $41,974,000 after buying an additional 534,500 shares during the last quarter. Driehaus Capital Management LLC raised its stake in shares of Travere Therapeutics by 608.1% in the fourth quarter. Driehaus Capital Management LLC now owns 2,217,975 shares of the company's stock valued at $38,637,000 after buying an additional 1,904,733 shares during the period. Jacobs Levy Equity Management Inc. grew 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 acquiring an additional 583,836 shares during the period. Finally, Emerald Advisers LLC increased its holdings in Travere Therapeutics by 8.4% in the 4th quarter. Emerald Advisers LLC now owns 2,125,744 shares of the company's stock worth $37,030,000 after acquiring an additional 165,085 shares during 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.