Bank of America Trims Travere Therapeutics (NASDAQ:TVTX) Target Price to $18.00

Travere Therapeutics (NASDAQ:TVTX) had its price target decreased by Bank of America from $19.00 to $18.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s target price would indicate a potential upside of 28.48% from the company’s current price.

A number of other brokerages have also recently commented on TVTX. JPMorgan Chase & Co. increased their price objective on shares of Travere Therapeutics from $20.00 to $23.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Barclays raised their price objective on shares of Travere Therapeutics from $12.00 to $14.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Canaccord Genuity Group upped their target price on Travere Therapeutics from $18.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Piper Sandler raised their price target on Travere Therapeutics from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, Guggenheim upgraded Travere Therapeutics from a “neutral” rating to a “buy” rating and set a $25.00 price objective on the stock in a research report on Monday, September 9th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $16.82.

Travere Therapeutics Trading Down 6.8 %

NASDAQ:TVTX opened at $14.01 on Friday. The stock has a fifty day moving average price of $10.66 and a two-hundred day moving average price of $8.45. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of -6.67 and a beta of 0.71. 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 1 year low of $5.12 and a 1 year high of $15.36.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings data 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 business 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%. As a group, sell-side analysts anticipate that Travere Therapeutics will post -3.95 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP William E. Rote sold 4,387 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $11.52, for a total value 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, SVP William E. Rote sold 4,387 shares of the company’s 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 $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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eric M. Dube sold 21,125 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 $243,360.00. Following the completion of the transaction, the chief executive officer now owns 361,975 shares in the company, valued at approximately $4,169,952. The disclosure for this sale can be found here. Insiders sold a total of 30,707 shares of company stock valued at $352,712 over the last 90 days. Insiders own 3.75% of the company’s stock.

Institutional Trading of Travere Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Assenagon Asset Management S.A. increased its holdings in shares of Travere Therapeutics by 912.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,214,099 shares of the company’s stock worth $18,200,000 after buying an additional 1,995,419 shares during the last quarter. Parkman Healthcare Partners LLC increased its holdings in shares of Travere Therapeutics by 76.4% during the 4th quarter. Parkman Healthcare Partners LLC now owns 1,018,812 shares of the company’s stock worth $9,159,000 after buying an additional 441,318 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Travere Therapeutics by 79.2% during the 1st quarter. Russell Investments Group Ltd. now owns 184,623 shares of the company’s stock worth $1,423,000 after buying an additional 81,611 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Travere Therapeutics during the 1st quarter worth $452,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Travere Therapeutics during the 4th 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.