Travere Therapeutics (NASDAQ:TVTX) Price Target Raised to $32.00 at Scotiabank

Travere Therapeutics (NASDAQ:TVTX) had its target price boosted by investment analysts at Scotiabank from $27.00 to $32.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the stock. Scotiabank’s price target suggests a potential upside of 37.97% from the stock’s previous close.

A number of other equities research analysts have also commented on the company. Barclays raised their price target on Travere Therapeutics from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Wells Fargo & Company raised shares of Travere Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $9.00 to $27.00 in a research report on Monday, October 21st. Cantor Fitzgerald began coverage on shares of Travere Therapeutics in a research report on Friday, January 10th. They issued an “overweight” rating for the company. Piper Sandler increased their price objective on shares of Travere Therapeutics from $12.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Finally, Evercore ISI upped their target price on shares of Travere Therapeutics from $33.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Travere Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $27.77.

Travere Therapeutics Trading Down 2.3 %

Shares of TVTX stock traded down $0.56 during trading hours on Wednesday, reaching $23.19. The company had a trading volume of 641,211 shares, compared to its average volume of 1,526,587. Travere Therapeutics has a 1-year low of $5.12 and a 1-year high of $25.29. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of -5.13 and a beta of 0.72. The company has a 50 day moving average of $18.98 and a 200 day moving average of $15.90.

Insiders Place Their Bets

In other news, Director Roy D. Baynes sold 10,000 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $22.00, for a total transaction of $220,000.00. Following the transaction, the director now owns 31,000 shares of the company’s stock, valued at $682,000. This represents a 24.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Sandra Calvin sold 15,000 shares of Travere Therapeutics stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $17.22, for a total transaction of $258,300.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders sold 144,532 shares of company stock worth $2,845,498 over the last three months. Insiders own 4.06% of the company’s stock.

Institutional Trading of Travere Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the business. CWM LLC lifted its holdings in shares of Travere Therapeutics by 158.5% in the third quarter. CWM LLC now owns 4,999 shares of the company’s stock worth $70,000 after buying an additional 3,065 shares in the last quarter. Creative Planning lifted its position in Travere Therapeutics by 4.3% in the 3rd quarter. Creative Planning now owns 23,938 shares of the company’s stock worth $335,000 after buying an additional 995 shares during the last quarter. Semanteon Capital Management LP purchased a new stake in Travere Therapeutics in the third quarter worth approximately $513,000. China Universal Asset Management Co. Ltd. grew its position in Travere Therapeutics by 64.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 14,712 shares of the company’s stock valued at $206,000 after acquiring an additional 5,767 shares during the last quarter. Finally, Rice Hall James & Associates LLC lifted its holdings in shares of Travere Therapeutics by 24.4% in the 3rd quarter. Rice Hall James & Associates LLC now owns 94,736 shares of the company’s stock worth $1,325,000 after acquiring an additional 18,562 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.