Brokerages Set Travere Therapeutics, Inc. (NASDAQ:TVTX) Target Price at $30.62

Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) has received an average recommendation of "Moderate Buy" from the fourteen ratings firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $30.62.

TVTX has been the subject of a number of research reports. HC Wainwright boosted their price target on Travere Therapeutics from $18.00 to $22.00 and gave the company a "buy" rating in a report on Wednesday, January 15th. Canaccord Genuity Group boosted their price target on Travere Therapeutics from $22.00 to $45.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. upped their target price on Travere Therapeutics from $42.00 to $44.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Evercore ISI upped their target price on Travere Therapeutics from $33.00 to $45.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Travere Therapeutics in a report on Friday, February 21st.

Travere Therapeutics Trading Up 2.3 %

Shares of TVTX traded up $0.45 during mid-day trading on Friday, reaching $20.18. 165,752 shares of the company's stock traded hands, compared to its average volume of 1,612,135. The stock has a market cap of $1.79 billion, a P/E ratio of -4.92 and a beta of 0.75. The stock's 50-day moving average is $20.33 and its two-hundred day moving average is $17.83. Travere Therapeutics has a 12 month low of $5.12 and a 12 month high of $25.29. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68.

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

Insider Transactions at Travere Therapeutics

In related news, SVP William E. Rote sold 2,437 shares of the company's stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $19.46, for a total value of $47,424.02. Following the transaction, the senior vice president now directly owns 83,170 shares of the company's stock, valued at $1,618,488.20. This represents a 2.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Sandra Calvin sold 15,000 shares of the company's stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $17.22, for a total value of $258,300.00. Following the completion of the transaction, the chief accounting officer now directly owns 54,927 shares in the company, valued at approximately $945,842.94. The trade was a 21.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 206,335 shares of company stock valued at $4,453,012. Corporate insiders own 3.75% of the company's stock.

Hedge Funds Weigh In On Travere Therapeutics

Hedge funds have recently made changes to their positions in the company. Aigen Investment Management LP acquired a new stake in Travere Therapeutics during the 3rd quarter worth about $170,000. Oppenheimer & Co. Inc. acquired a new stake in Travere Therapeutics during the 3rd quarter worth about $673,000. Connor Clark & Lunn Investment Management Ltd. grew its position in Travere Therapeutics by 11.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 525,381 shares of the company's stock worth $7,350,000 after purchasing an additional 52,985 shares during the period. Intech Investment Management LLC acquired a new stake in Travere Therapeutics during the 3rd quarter worth about $283,000. Finally, The Manufacturers Life Insurance Company grew its position in Travere Therapeutics by 61.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 47,045 shares of the company's stock worth $658,000 after purchasing an additional 17,931 shares during the period.

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.