Travere Therapeutics (NASDAQ:TVTX) Given New $45.00 Price Target at Evercore ISI

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) had its price objective increased by equities researchers at Evercore ISI from $33.00 to $45.00 in a report released on Wednesday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Evercore ISI's price target indicates a potential upside of 96.42% from the stock's current price.

Other research analysts have also recently issued research reports about the stock. Scotiabank raised their target price on shares of Travere Therapeutics from $23.00 to $27.00 and gave the stock a "sector outperform" rating in a report on Friday, November 1st. Cantor Fitzgerald started coverage on Travere Therapeutics in a research report on Friday, January 10th. They issued an "overweight" rating for the company. Wells Fargo & Company raised Travere Therapeutics from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $9.00 to $27.00 in a research report on Monday, October 21st. Barclays lifted their price objective on Travere Therapeutics from $18.00 to $20.00 and gave the stock an "overweight" rating in a report on Friday, November 1st. Finally, Piper Sandler boosted their price target on Travere Therapeutics from $12.00 to $22.00 and gave the company a "neutral" rating in a research note on Thursday, November 14th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $27.77.

Travere Therapeutics Stock Performance

NASDAQ TVTX traded down $0.81 on Wednesday, reaching $22.91. 1,466,790 shares of the company's stock traded hands, compared to its average volume of 1,303,585. Travere Therapeutics has a 12 month low of $5.12 and a 12 month high of $25.29. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96. The stock has a 50-day simple moving average of $19.22 and a 200 day simple moving average of $16.14.

Insider Activity at Travere Therapeutics

In related news, CAO Sandra Calvin sold 15,000 shares of the business's stock in a transaction that occurred on Thursday, December 26th. The stock was 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. The trade was a 21.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP William E. Rote sold 2,437 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 83,170 shares in the company, valued at approximately $1,618,488.20. This represents a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 218,425 shares of company stock worth $4,674,259. 3.75% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TVTX. Sterling Capital Management LLC lifted its holdings in Travere Therapeutics by 859.8% in the 4th quarter. Sterling Capital Management LLC now owns 2,361 shares of the company's stock worth $41,000 after purchasing an additional 2,115 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Travere Therapeutics during the 4th quarter worth approximately $53,000. CWM LLC raised its holdings in shares of Travere Therapeutics by 158.5% during the 3rd 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. Quarry LP purchased a new stake in shares of Travere Therapeutics during the 3rd quarter worth approximately $105,000. Finally, Ameritas Investment Partners Inc. raised its holdings in shares of Travere Therapeutics by 9.2% during the 4th quarter. Ameritas Investment Partners Inc. now owns 7,905 shares of the company's stock worth $138,000 after acquiring an additional 667 shares in the last quarter.

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.