Travere Therapeutics (NASDAQ:TVTX) Price Target Lowered to $19.00 at Citigroup

Travere Therapeutics (NASDAQ:TVTX) had its price objective decreased by Citigroup from $23.00 to $19.00 in a report published on Friday, Benzinga reports. Citigroup currently has a buy rating on the stock.

A number of other research firms also recently weighed in on TVTX. Canaccord Genuity Group boosted their price target on shares of Travere Therapeutics from $18.00 to $23.00 and gave the stock a buy rating in a research note on Tuesday, September 10th. Barclays increased their price target on Travere Therapeutics from $12.00 to $14.00 and gave the company an overweight rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. raised their price target on Travere Therapeutics from $20.00 to $23.00 and gave the stock an overweight rating in a research report on Friday, September 13th. Wedbush increased their target price on Travere Therapeutics from $13.00 to $16.00 and gave the company an outperform rating in a research note on Friday, August 2nd. Finally, Bank of America reduced their target price on Travere Therapeutics from $19.00 to $18.00 and set a buy rating on the stock in a report on Friday. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $16.82.

Travere Therapeutics Stock Down 6.8 %

Shares of TVTX opened at $14.01 on Friday. The business’s fifty day moving average price is $10.66 and its two-hundred day moving average price is $8.45. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of -6.67 and a beta of 0.71. Travere Therapeutics has a 52 week low of $5.12 and a 52 week high of $15.36. The company has a debt-to-equity ratio of 24.96, a quick ratio of 2.99 and a current ratio of 3.04.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.87) by ($0.03). The firm had revenue of $54.12 million during the quarter, compared to the consensus estimate of $49.50 million. Travere Therapeutics had a negative net margin of 82.14% and a negative return on equity of 269.18%. On average, analysts predict that Travere Therapeutics will post -3.95 earnings per share for the current year.

Insider Activity at Travere Therapeutics

In related news, CEO Eric M. Dube sold 21,125 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $243,360.00. Following the sale, the chief executive officer now directly owns 361,975 shares in the company, valued at $4,169,952. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Travere Therapeutics news, CFO Christopher R. Cline sold 2,490 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $28,684.80. Following the completion of the transaction, the chief financial officer now owns 74,595 shares of the company’s stock, valued at approximately $859,334.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Eric M. Dube sold 21,125 shares of Travere Therapeutics stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $243,360.00. Following the completion of the sale, the chief executive officer now owns 361,975 shares in the company, valued at $4,169,952. The disclosure for this sale can be found here. In the last three months, insiders sold 30,707 shares of company stock worth $352,712. 3.75% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. boosted its position in Travere Therapeutics by 912.5% during the second quarter. Assenagon Asset Management S.A. now owns 2,214,099 shares of the company’s stock valued at $18,200,000 after purchasing an additional 1,995,419 shares during the last quarter. Kynam Capital Management LP boosted its holdings in shares of Travere Therapeutics by 105.6% in the 4th quarter. Kynam Capital Management LP now owns 2,000,000 shares of the company’s stock valued at $17,980,000 after buying an additional 1,027,398 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Travere Therapeutics by 13.6% in the first quarter. Vanguard Group Inc. now owns 6,265,829 shares of the company’s stock valued at $48,310,000 after buying an additional 750,686 shares in the last quarter. Millennium Management LLC increased its holdings in Travere Therapeutics by 33.9% during the second quarter. Millennium Management LLC now owns 2,949,335 shares of the company’s stock worth $24,244,000 after buying an additional 747,406 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Travere Therapeutics during the fourth quarter worth $5,711,000.

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.