Travere Therapeutics (NASDAQ:TVTX) PT Raised to $23.00

Travere Therapeutics (NASDAQ:TVTX) had its price target upped by JPMorgan Chase & Co. from $20.00 to $23.00 in a research note released on Friday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other analysts have also recently weighed in on TVTX. Barclays boosted their price target on Travere Therapeutics from $12.00 to $14.00 and gave the stock an overweight rating in a research report on Friday, August 2nd. Canaccord Genuity Group boosted their target price on Travere Therapeutics from $18.00 to $23.00 and gave the stock a buy rating in a report on Tuesday. Piper Sandler increased their price target on Travere Therapeutics from $11.00 to $12.00 and gave the company a neutral rating in a report on Friday, August 2nd. Wedbush boosted their price objective on shares of Travere Therapeutics from $13.00 to $16.00 and gave the stock an outperform rating in a research note on Friday, August 2nd. Finally, Citigroup upped their price objective 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. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $17.58.

Travere Therapeutics Trading Up 7.0 %

NASDAQ:TVTX opened at $13.48 on Friday. The company has a market capitalization of $1.03 billion, a P/E ratio of -6.42 and a beta of 0.71. The stock’s 50 day moving average price is $9.68 and its 200 day moving average price is $7.99. 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 has a 52 week low of $5.12 and a 52 week high of $14.07.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.03). Travere Therapeutics had a negative return on equity of 269.18% and a negative net margin of 82.14%. The business had revenue of $54.12 million for the quarter, compared to analyst estimates of $49.50 million. On average, research analysts forecast that Travere Therapeutics will post -3.96 EPS for the current fiscal year.

Insider Activity at Travere Therapeutics

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 value 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. In other Travere Therapeutics news, CFO Christopher R. Cline sold 2,490 shares of Travere Therapeutics stock in a transaction on Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $28,684.80. Following the sale, the chief financial officer now owns 74,595 shares in the company, valued at $859,334.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jula Inrig sold 2,191 shares of the business’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 $25,240.32. Following the completion of the sale, the insider now directly owns 62,633 shares in the company, valued at approximately $721,532.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,707 shares of company stock worth $352,712. Company insiders own 3.75% of the company’s stock.

Institutional Investors Weigh In On Travere Therapeutics

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

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.