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

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) had its target price upped by stock analysts at HC Wainwright from $18.00 to $22.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. HC Wainwright's target price points to a potential upside of 21.75% from the company's previous close.

Several other research analysts have also issued reports on the stock. Bank of America lifted their price target on shares of Travere Therapeutics from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Cantor Fitzgerald assumed coverage on Travere Therapeutics in a research report on Friday, January 10th. They set an "overweight" rating on the stock. Scotiabank lifted their price target on Travere Therapeutics from $23.00 to $27.00 and gave the stock a "sector outperform" rating in a research note on Friday, November 1st. Guggenheim raised their target price on shares of Travere Therapeutics from $23.00 to $41.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Finally, Canaccord Genuity Group reduced their price target on shares of Travere Therapeutics from $23.00 to $22.00 and set a "buy" rating for the company in a research report on Monday, September 30th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Travere Therapeutics presently has a consensus rating of "Moderate Buy" and an average target price of $24.00.

Travere Therapeutics Price Performance

Shares of TVTX stock traded up $1.00 during mid-day trading on Wednesday, hitting $18.07. 1,384,444 shares of the stock traded hands, compared to its average volume of 1,234,060. Travere Therapeutics has a twelve month low of $5.12 and a twelve month high of $20.33. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71. The company's 50-day simple moving average is $18.21 and its 200-day simple moving average is $14.34. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of -3.97 and a beta of 0.70.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.70) EPS for the quarter, topping the consensus estimate of ($0.71) by $0.01. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 537.74%. The firm had revenue of $62.90 million for the quarter, compared to analysts' expectations of $60.87 million. During the same period in the previous year, the business earned ($1.17) earnings per share. Travere Therapeutics's revenue for the quarter was up 69.6% compared to the same quarter last year. As a group, equities research analysts expect that Travere Therapeutics will post -3.94 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Jula Inrig sold 2,066 shares of the company's stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $19.10, for a total value of $39,460.60. Following the completion of the sale, the insider now directly owns 59,883 shares in the company, valued at approximately $1,143,765.30. This represents a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Sandra Calvin sold 15,000 shares of the stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $17.22, for a total transaction of $258,300.00. Following the transaction, the chief accounting officer now directly owns 54,927 shares in the company, valued at $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. Insiders have sold a total of 29,596 shares of company stock valued at $527,262 in the last three months. Insiders own 3.75% of the company's stock.

Institutional Trading of Travere Therapeutics

Large investors have recently made changes to their positions in the stock. Creative Planning boosted its position in Travere Therapeutics by 4.3% during the third quarter. Creative Planning now owns 23,938 shares of the company's stock worth $335,000 after purchasing an additional 995 shares during the period. Forefront Analytics LLC boosted its holdings in shares of Travere Therapeutics by 10.2% during the 2nd quarter. Forefront Analytics LLC now owns 13,317 shares of the company's stock worth $109,000 after buying an additional 1,237 shares during the period. CWM LLC grew its stake in Travere Therapeutics by 158.5% in the 3rd quarter. CWM LLC now owns 4,999 shares of the company's stock valued at $70,000 after buying an additional 3,065 shares during the last quarter. Diversified Trust Co raised its holdings in Travere Therapeutics by 27.5% in the 4th quarter. Diversified Trust Co now owns 14,701 shares of the company's stock worth $256,000 after acquiring an additional 3,169 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Travere Therapeutics by 20.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,969 shares of the company's stock worth $279,000 after acquiring an additional 3,458 shares during 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.