Travere Therapeutics, Inc. (NASDAQ:TVTX) Receives $30.62 Average Price Target from Analysts

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) have earned an average recommendation of "Moderate Buy" from the fourteen research firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $30.62.

Several analysts have recently weighed in on the stock. Citigroup raised their price objective on shares of Travere Therapeutics from $31.00 to $35.00 and gave the stock a "buy" rating in a report on Monday, February 24th. Evercore ISI raised their price objective 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. JPMorgan Chase & Co. raised their price objective on shares of Travere Therapeutics from $42.00 to $44.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Travere Therapeutics in a report on Friday, February 21st. Finally, Canaccord Genuity Group raised their price objective on shares of Travere Therapeutics from $22.00 to $45.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th.

Travere Therapeutics Price Performance

TVTX traded up $0.60 during midday trading on Friday, reaching $19.73. 1,137,210 shares of the company's stock were exchanged, compared to its average volume of 1,411,373. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of -4.81 and a beta of 0.75. 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 one year low of $5.12 and a one year high of $25.29. The business has a 50-day simple moving average of $20.33 and a two-hundred day simple moving average of $17.71.

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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) EPS for the quarter, missing analysts' consensus estimates of ($0.58) by ($0.15). The business had revenue of $74.79 million for the quarter, compared to the consensus estimate of $72.38 million. Travere Therapeutics had a negative return on equity of 1,636.87% and a negative net margin of 137.90%. As a group, research analysts predict that Travere Therapeutics will post -1.4 EPS for the current year.

Insider Buying and Selling at Travere Therapeutics

In other Travere Therapeutics news, CAO Sandra Calvin sold 15,000 shares of the firm's stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 54,927 shares of the company's stock, valued at approximately $945,842.94. This trade represents a 21.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP William E. Rote sold 5,200 shares of the firm's stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $23.53, for a total transaction of $122,356.00. Following the completion of the transaction, the senior vice president now directly owns 98,519 shares in the company, valued at approximately $2,318,152.07. The trade was a 5.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 206,335 shares of company stock valued at $4,453,012. 3.75% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Travere Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Entropy Technologies LP bought a new position in shares of Travere Therapeutics during the fourth quarter worth $214,000. Aigen Investment Management LP bought a new position in shares of Travere Therapeutics during the third quarter worth $170,000. Oppenheimer & Co. Inc. bought a new position in shares of Travere Therapeutics during the third quarter worth $673,000. US Bancorp DE boosted its position in shares of Travere Therapeutics by 323.4% during the fourth quarter. US Bancorp DE now owns 31,795 shares of the company's stock worth $554,000 after purchasing an additional 24,286 shares in the last quarter. Finally, FMR LLC boosted its position in shares of Travere Therapeutics by 27.5% during the third quarter. FMR LLC now owns 147,416 shares of the company's stock worth $2,062,000 after purchasing an additional 31,772 shares in 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.