Travere Therapeutics (NASDAQ:TVTX) Price Target Raised to $22.00

Travere Therapeutics (NASDAQ:TVTX - Free Report) had its target price hoisted by Piper Sandler from $12.00 to $22.00 in a research report released on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other research firms also recently issued reports on TVTX. Wedbush increased their price objective on Travere Therapeutics from $17.00 to $25.00 and gave the stock an "outperform" rating in a report on Wednesday, October 9th. Bank of America raised their target price on shares of Travere Therapeutics from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Wells Fargo & Company raised Travere Therapeutics from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $9.00 to $27.00 in a research report on Monday, October 21st. Scotiabank lifted their price objective on Travere Therapeutics from $23.00 to $27.00 and gave the company a "sector outperform" rating in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. increased their target price on Travere Therapeutics from $20.00 to $23.00 and gave the stock an "overweight" rating in a research note on Friday, September 13th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $22.62.

Travere Therapeutics Stock Performance

Shares of TVTX stock traded down $0.09 on Thursday, hitting $18.47. 1,266,357 shares of the stock were exchanged, compared to its average volume of 1,405,102. The firm has a market capitalization of $1.44 billion, a PE ratio of -4.04 and a beta of 0.70. Travere Therapeutics has a one year low of $5.12 and a one year high of $20.33. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. The firm's 50 day moving average is $15.96 and its two-hundred day moving average is $10.83.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.70) earnings per share for the quarter, beating the consensus estimate of ($0.71) by $0.01. The firm had revenue of $62.90 million during the quarter, compared to the consensus estimate of $60.87 million. Travere Therapeutics had a negative return on equity of 537.74% and a negative net margin of 172.75%. The business's revenue was up 69.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.17) earnings per share. Sell-side analysts expect that Travere Therapeutics will post -3.93 earnings per share for the current fiscal year.

Insider Activity

In other Travere Therapeutics news, CFO Christopher R. Cline sold 2,490 shares of the business's stock in a transaction that occurred 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 sale, the chief financial officer now owns 74,595 shares in the company, valued at approximately $859,334.40. The trade was a 3.23 % 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. Also, CEO Eric M. Dube sold 21,125 shares of Travere Therapeutics stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $243,360.00. Following the completion of the sale, the chief executive officer now directly owns 361,975 shares in the company, valued at approximately $4,169,952. The trade was a 5.51 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 110,707 shares of company stock worth $1,504,312. 3.75% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Travere Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in TVTX. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Travere Therapeutics by 8.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,178 shares of the company's stock worth $387,000 after acquiring an additional 3,754 shares during the period. Russell Investments Group Ltd. increased its holdings in Travere Therapeutics by 79.2% during the 1st quarter. Russell Investments Group Ltd. now owns 184,623 shares of the company's stock valued at $1,423,000 after acquiring an additional 81,611 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of Travere Therapeutics by 9.2% in the first quarter. ProShare Advisors LLC now owns 18,421 shares of the company's stock valued at $142,000 after purchasing an additional 1,557 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Travere Therapeutics by 13.6% during the 1st quarter. Vanguard Group Inc. now owns 6,265,829 shares of the company's stock worth $48,310,000 after purchasing an additional 750,686 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of Travere Therapeutics during the 1st quarter worth approximately $368,000.

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.