Travere Therapeutics (NASDAQ:TVTX) Price Target Raised to $27.00

Travere Therapeutics (NASDAQ:TVTX) had its price objective boosted by Scotiabank from $23.00 to $27.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “sector outperform” rating on the stock. Scotiabank’s price target would suggest a potential upside of 52.28% from the stock’s current price.

Several other equities research analysts also recently weighed in on TVTX. HC Wainwright lowered their price target on Travere Therapeutics from $23.00 to $18.00 and set a “buy” rating for the company in a report on Friday, September 27th. Citigroup dropped their target price on shares of Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, September 27th. Leerink Partners reaffirmed an “outperform” rating and issued a $20.00 price target on shares of Travere Therapeutics in a report on Tuesday, October 8th. Guggenheim boosted their price objective on shares of Travere Therapeutics from $23.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Canaccord Genuity Group lowered their price target on Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Travere Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $21.85.

Travere Therapeutics Price Performance

Shares of TVTX stock traded up $0.23 on Friday, hitting $17.73. 405,595 shares of the stock traded hands, compared to its average volume of 1,392,557. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of -9.49 and a beta of 0.73. The company has a debt-to-equity ratio of 24.96, a current ratio of 3.04 and a quick ratio of 2.99. The firm has a 50 day simple moving average of $14.35 and a two-hundred day simple moving average of $10.01. Travere Therapeutics has a 52 week low of $5.12 and a 52 week high of $19.25.

Travere Therapeutics (NASDAQ:TVTX) last issued its earnings results on Thursday, October 31st. The company reported ($0.70) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.01. The firm had revenue of $62.90 million during the quarter, compared to analyst estimates of $60.87 million. Travere Therapeutics had a negative net margin of 82.14% and a negative return on equity of 269.18%. Travere Therapeutics’s revenue for the quarter was up 69.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.17) earnings per share. As a group, equities research analysts predict that Travere Therapeutics will post -3.95 earnings per share for the current fiscal year.

Insider Buying and Selling at Travere Therapeutics

In related news, CEO Eric M. Dube sold 21,125 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 value of $243,360.00. Following the completion of the transaction, the chief executive officer now directly owns 361,975 shares in the company, valued at $4,169,952. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Travere Therapeutics news, Director Gary A. Lyons sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $14.73, for a total value of $589,200.00. Following the sale, the director now directly owns 51,000 shares of the company’s stock, valued at approximately $751,230. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Eric M. Dube sold 21,125 shares of the business’s stock in a transaction on Monday, September 9th. The stock was 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 directly owns 361,975 shares of the company’s stock, valued at approximately $4,169,952. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 110,707 shares of company stock valued at $1,504,312. 3.75% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of TVTX. Emerald Advisers LLC increased its position in shares of Travere Therapeutics by 19.8% during the third quarter. Emerald Advisers LLC now owns 1,960,659 shares of the company’s stock worth $27,430,000 after purchasing an additional 323,513 shares in the last quarter. Emerald Mutual Fund Advisers Trust lifted its stake in shares of Travere Therapeutics by 26.0% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 1,185,709 shares of the company’s stock worth $16,588,000 after buying an additional 244,444 shares in the last quarter. Rice Hall James & Associates LLC boosted its position in Travere Therapeutics by 24.4% during the third 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. China Universal Asset Management Co. Ltd. raised its holdings in Travere Therapeutics by 64.5% in the 3rd 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, Semanteon Capital Management LP acquired a new position in shares of Travere Therapeutics during the 3rd quarter worth approximately $513,000.

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.