Travere Therapeutics (NASDAQ:TVTX) Price Target Raised to $45.00 at Canaccord Genuity Group

Travere Therapeutics (NASDAQ:TVTX - Free Report) had its price target upped by Canaccord Genuity Group from $22.00 to $45.00 in a report published on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

TVTX has been the topic of several other reports. Scotiabank increased their price target on Travere Therapeutics from $23.00 to $27.00 and gave the company a "sector outperform" rating in a report on Friday, November 1st. Wells Fargo & Company raised Travere Therapeutics from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $9.00 to $27.00 in a report on Monday, October 21st. HC Wainwright increased 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. Piper Sandler increased their price target on Travere Therapeutics from $12.00 to $22.00 and gave the company a "neutral" rating in a report on Thursday, November 14th. Finally, Barclays increased their price target on Travere Therapeutics from $18.00 to $20.00 and gave the company an "overweight" rating in a report on Friday, November 1st. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $27.77.

Travere Therapeutics Stock Down 3.4 %

TVTX traded down $0.81 during trading on Wednesday, hitting $22.91. 1,466,790 shares of the company's stock traded hands, compared to its average volume of 1,303,585. The company's 50 day simple moving average is $19.22 and its two-hundred day simple moving average is $16.10. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. Travere Therapeutics has a 12-month low of $5.12 and a 12-month high of $25.29. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of -5.04 and a beta of 0.72.

Insider Buying and Selling at Travere Therapeutics

In other news, CAO Sandra Calvin sold 54,244 shares of the firm's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $25.00, for a total transaction of $1,356,100.00. Following the completion of the transaction, the chief accounting officer now owns 54,410 shares in the company, valued at $1,360,250. This trade represents a 49.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP William E. Rote sold 2,437 shares of the firm's stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $19.46, for a total value of $47,424.02. Following the transaction, the senior vice president now owns 83,170 shares of the company's stock, valued at approximately $1,618,488.20. The trade was a 2.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 218,425 shares of company stock valued at $4,674,259 over the last ninety days. 3.75% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Aigen Investment Management LP purchased a new position in shares of Travere Therapeutics during the third quarter valued at about $170,000. Entropy Technologies LP purchased a new position in shares of Travere Therapeutics during the fourth quarter valued at about $214,000. Oppenheimer & Co. Inc. purchased a new position in shares of Travere Therapeutics during the third quarter valued at about $673,000. FMR LLC grew 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 valued at $2,062,000 after purchasing an additional 31,772 shares in the last quarter. Finally, Two Sigma Advisers LP grew its position in Travere Therapeutics by 30.2% in the third quarter. Two Sigma Advisers LP now owns 720,400 shares of the company's stock worth $10,078,000 after acquiring an additional 167,100 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.