Travere Therapeutics (NASDAQ:TVTX) Upgraded to "Overweight" at Wells Fargo & Company

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) was upgraded by Wells Fargo & Company from an "equal weight" rating to an "overweight" rating in a report issued on Monday, MarketBeat Ratings reports. The brokerage currently has a $27.00 price target on the stock, up from their previous price target of $9.00. Wells Fargo & Company's price objective indicates a potential upside of 49.17% from the company's current price.

TVTX has been the topic of a number of other reports. JPMorgan Chase & Co. boosted their price objective on shares of Travere Therapeutics from $20.00 to $23.00 and gave the company an "overweight" rating in a research report on Friday, September 13th. Bank of America boosted their target price on shares of Travere Therapeutics from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Citigroup decreased their target price on shares of Travere Therapeutics from $23.00 to $19.00 and set a "buy" rating for the company in a research report on Friday, September 27th. Leerink Partners reissued an "outperform" rating and issued a $20.00 target price on shares of Travere Therapeutics in a research report on Tuesday, October 8th. Finally, Barclays boosted their target price on shares of Travere Therapeutics from $14.00 to $18.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 1st. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Travere Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus target price of $21.38.

Travere Therapeutics Trading Up 1.3 %

Shares of Travere Therapeutics stock traded up $0.23 during trading on Monday, hitting $18.10. The stock had a trading volume of 929,211 shares, compared to its average volume of 1,402,933. The stock has a 50 day simple moving average of $12.71 and a 200 day simple moving average of $9.35. Travere Therapeutics has a 1 year low of $5.12 and a 1 year high of $19.25. The company has a market capitalization of $1.38 billion, a PE ratio of -8.62 and a beta of 0.73. The company has a quick ratio of 2.99, a current ratio of 3.04 and a debt-to-equity ratio of 24.96.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.90) EPS for the quarter, missing analysts' consensus estimates of ($0.87) by ($0.03). Travere Therapeutics had a negative net margin of 82.14% and a negative return on equity of 269.18%. The company had revenue of $54.12 million for the quarter, compared to analysts' expectations of $49.50 million. On average, research analysts expect that Travere Therapeutics will post -3.95 EPS for the current fiscal year.

Insider Transactions at Travere Therapeutics

In other news, insider Jula Inrig sold 2,191 shares of the business's stock in a transaction on Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $25,240.32. Following the completion of the sale, the insider now directly owns 62,633 shares in the company, valued at approximately $721,532.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Jeffrey A. Meckler sold 40,000 shares of the company's stock in a transaction on Monday, September 30th. The shares were sold at an average price of $14.06, for a total transaction of $562,400.00. Following the completion of the transaction, the director now directly owns 81,000 shares in the company, valued at $1,138,860. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jula Inrig sold 2,191 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $25,240.32. Following the completion of the transaction, the insider now owns 62,633 shares of the company's stock, valued at approximately $721,532.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 110,707 shares of company stock worth $1,504,312. 3.75% of the stock is owned by insiders.

Hedge Funds Weigh In On Travere Therapeutics

Hedge funds have recently made changes to their positions in the business. Assenagon Asset Management S.A. raised its stake in shares of Travere Therapeutics by 912.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 2,214,099 shares of the company's stock valued at $18,200,000 after buying an additional 1,995,419 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Travere Therapeutics by 79.2% in the 1st quarter. Russell Investments Group Ltd. now owns 184,623 shares of the company's stock valued at $1,423,000 after buying an additional 81,611 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of Travere Therapeutics in the 1st quarter valued at $452,000. Acadian Asset Management LLC grew its holdings in shares of Travere Therapeutics by 202.6% in the 2nd quarter. Acadian Asset Management LLC now owns 144,901 shares of the company's stock worth $1,190,000 after purchasing an additional 97,020 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Travere Therapeutics by 33.9% in the 2nd quarter. Millennium Management LLC now owns 2,949,335 shares of the company's stock worth $24,244,000 after purchasing an additional 747,406 shares during the last quarter.

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.