Scotiabank Forecasts Strong Price Appreciation for Travere Therapeutics (NASDAQ:TVTX) Stock

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) had its price objective lifted by investment analysts at Scotiabank from $23.00 to $27.00 in a report issued on Friday, Benzinga reports. The firm presently has a "sector outperform" rating on the stock. Scotiabank's price target suggests a potential upside of 53.67% from the company's current price.

A number of other research analysts also recently weighed in on TVTX. Bank of America raised their price objective on Travere Therapeutics from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. raised their price objective on Travere Therapeutics from $20.00 to $23.00 and gave the company an "overweight" rating in a research note on Friday, September 13th. Leerink Partners reissued an "outperform" rating and issued a $20.00 price objective on shares of Travere Therapeutics in a research note on Tuesday, October 8th. Piper Sandler lifted their price target on Travere Therapeutics from $11.00 to $12.00 and gave the stock a "neutral" rating in a research report on Friday, August 2nd. Finally, Citigroup dropped their price target on Travere Therapeutics from $23.00 to $19.00 and set a "buy" rating on the stock in a research report on Friday, September 27th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Travere Therapeutics presently has a consensus rating of "Moderate Buy" and an average target price of $21.85.

Travere Therapeutics Stock Up 0.4 %

Shares of Travere Therapeutics stock traded up $0.07 during trading on Friday, hitting $17.57. 1,941,298 shares of the stock traded hands, compared to its average volume of 1,399,801. The stock has a market cap of $1.34 billion, a P/E ratio of -9.49 and a beta of 0.73. The company has a debt-to-equity ratio of 24.96, a quick ratio of 2.99 and a current ratio of 3.04. Travere Therapeutics has a twelve month low of $5.12 and a twelve month high of $19.25. The company has a fifty day moving average price of $14.35 and a two-hundred day moving average price of $10.01.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.70) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.71) by $0.01. The business had revenue of $62.90 million during the quarter, compared to analyst estimates of $60.87 million. Travere Therapeutics had a negative return on equity of 269.18% and a negative net margin of 82.14%. The firm's revenue was up 69.6% on a year-over-year basis. During the same period in the previous year, the company earned ($1.17) EPS. Equities research analysts predict that Travere Therapeutics will post -3.95 EPS for the current fiscal year.

Insider Activity at Travere Therapeutics

In related news, CFO Christopher R. Cline sold 2,490 shares of the business's stock in a transaction on Monday, September 9th. The stock was sold at an average price of $11.52, for a total value of $28,684.80. Following the sale, the chief financial officer now owns 74,595 shares of the company's stock, valued at $859,334.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Travere Therapeutics news, CEO Eric M. Dube sold 21,125 shares of the business's stock in a transaction on Monday, September 9th. The stock was sold at an average price of $11.52, for a total value of $243,360.00. Following the transaction, the chief executive officer now owns 361,975 shares of the company's stock, valued at approximately $4,169,952. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Christopher R. Cline sold 2,490 shares of the business's stock in a transaction on Monday, September 9th. The stock was sold at an average price of $11.52, for a total value of $28,684.80. Following the completion of the transaction, the chief financial officer now directly owns 74,595 shares in the company, valued at approximately $859,334.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 110,707 shares of company stock valued at $1,504,312 in the last 90 days. 3.75% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Travere Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. EntryPoint Capital LLC bought a new stake in shares of Travere Therapeutics in the first quarter worth about $32,000. CWM LLC increased its holdings in shares of Travere Therapeutics by 158.5% in the third quarter. CWM LLC now owns 4,999 shares of the company's stock worth $70,000 after acquiring an additional 3,065 shares in the last quarter. DRW Securities LLC bought a new stake in shares of Travere Therapeutics in the second quarter worth about $95,000. Forefront Analytics LLC increased its holdings in shares of Travere Therapeutics by 10.2% in the second quarter. Forefront Analytics LLC now owns 13,317 shares of the company's stock worth $109,000 after acquiring an additional 1,237 shares in the last quarter. Finally, Sei Investments Co. bought a new stake in shares of Travere Therapeutics in the second quarter worth about $117,000.

About Travere Therapeutics

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.