Travere Therapeutics (NASDAQ:TVTX) Price Target Raised to $23.00

Travere Therapeutics (NASDAQ:TVTX) had its price objective increased by analysts at JPMorgan Chase & Co. from $20.00 to $23.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 72.16% from the stock’s current price.

Several other equities research analysts have also commented on the company. Guggenheim upgraded Travere Therapeutics from a “neutral” rating to a “buy” rating and set a $25.00 price objective for the company in a research note on Monday. Citigroup upped their target price on shares of Travere Therapeutics from $14.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Wedbush upped their target price on shares of Travere Therapeutics from $13.00 to $16.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Barclays upped their target price on shares of Travere Therapeutics from $12.00 to $14.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, HC Wainwright increased their price objective on shares of Travere Therapeutics from $20.00 to $23.00 and gave the company a “buy” rating in a report on Friday, September 6th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Travere Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $17.58.

Travere Therapeutics Stock Up 6.0 %

Shares of TVTX traded up $0.76 during mid-day trading on Friday, reaching $13.36. The company had a trading volume of 1,414,246 shares, compared to its average volume of 1,248,516. Travere Therapeutics has a 52 week low of $5.12 and a 52 week high of $14.07. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of -6.36 and a beta of 0.71. The firm has a 50-day moving average price of $9.57 and a 200 day moving average price of $7.96. 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 announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.03). The firm had revenue of $54.12 million during the quarter, compared to analysts’ expectations of $49.50 million. Travere Therapeutics had a negative return on equity of 269.18% and a negative net margin of 82.14%. On average, sell-side analysts forecast that Travere Therapeutics will post -3.96 EPS for the current year.

Insider Buying and Selling at Travere Therapeutics

In related news, SVP William E. Rote sold 4,387 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 $50,538.24. Following the completion of the transaction, the senior vice president now owns 84,455 shares of the company’s stock, valued at $972,921.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Travere Therapeutics news, CEO Eric M. Dube sold 21,125 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $243,360.00. Following the transaction, the chief executive officer now directly owns 361,975 shares in the company, valued at approximately $4,169,952. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP William E. Rote sold 4,387 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $50,538.24. Following the completion of the transaction, the senior vice president now owns 84,455 shares in the company, valued at $972,921.60. The disclosure for this sale can be found here. Insiders sold a total of 30,707 shares of company stock worth $352,712 over the last three months. Corporate insiders own 3.75% of the company’s stock.

Hedge Funds Weigh In On Travere Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. Forefront Analytics LLC boosted its holdings in Travere Therapeutics by 10.2% in the 2nd quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock valued at $109,000 after purchasing an additional 1,237 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of Travere Therapeutics by 9.2% in the 1st quarter. ProShare Advisors LLC now owns 18,421 shares of the company’s stock valued at $142,000 after acquiring an additional 1,557 shares during the period. Rice Hall James & Associates LLC raised its stake in shares of Travere Therapeutics by 3.8% in the 2nd quarter. Rice Hall James & Associates LLC now owns 76,174 shares of the company’s stock valued at $626,000 after acquiring an additional 2,774 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Travere Therapeutics by 10.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,009 shares of the company’s stock valued at $240,000 after acquiring an additional 2,948 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Travere Therapeutics by 8.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,178 shares of the company’s stock valued at $387,000 after acquiring an additional 3,754 shares during the period.

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.