Piper Sandler Increases Travere Therapeutics (NASDAQ:TVTX) Price Target to $22.00

Travere Therapeutics (NASDAQ:TVTX) had its price objective increased by Piper Sandler from $12.00 to $22.00 in a research report sent to investors on Thursday,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Other research analysts also recently issued research reports about the stock. Canaccord Genuity Group dropped their target price on shares of Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Citigroup reduced their target price on Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, September 27th. Wedbush upped their price target on Travere Therapeutics from $17.00 to $25.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. Leerink Partners reissued an “outperform” rating and issued a $20.00 price objective on shares of Travere Therapeutics in a research note on Tuesday, October 8th. Finally, Wells Fargo & Company raised Travere Therapeutics from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $9.00 to $27.00 in a research report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.62.

Travere Therapeutics Trading Down 4.1 %

Shares of TVTX opened at $17.72 on Thursday. The firm’s fifty day simple moving average is $16.27 and its two-hundred day simple moving average is $11.01. Travere Therapeutics has a 12 month low of $5.12 and a 12 month high of $20.33. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96.

Travere Therapeutics (NASDAQ:TVTX) last released its earnings results on Thursday, October 31st. The company reported ($0.70) EPS for the quarter, topping the consensus estimate of ($0.71) by $0.01. Travere Therapeutics had a negative return on equity of 537.74% and a negative net margin of 172.75%. The business had revenue of $62.90 million during the quarter, compared to analysts’ expectations of $60.87 million. During the same quarter last year, the firm posted ($1.17) earnings per share. The firm’s revenue was up 69.6% on a year-over-year basis. Equities analysts expect that Travere Therapeutics will post -3.93 earnings per share for the current year.

Insider Activity

In other Travere Therapeutics news, SVP William E. Rote sold 4,387 shares of the stock in a transaction dated 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 sale, the senior vice president now owns 84,455 shares in the company, valued at approximately $972,921.60. This trade represents a 4.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Eric M. Dube sold 21,125 shares of Travere Therapeutics stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 361,975 shares in the company, valued at approximately $4,169,952. This represents a 5.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 110,707 shares of company stock worth $1,504,312 over the last quarter. Insiders own 3.75% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC boosted its holdings in shares of Travere Therapeutics by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,731,045 shares of the company’s stock worth $24,222,000 after buying an additional 64,744 shares during the last quarter. Two Sigma Advisers LP raised its position in Travere Therapeutics by 30.2% in the third quarter. Two Sigma Advisers LP now owns 720,400 shares of the company’s stock worth $10,078,000 after acquiring an additional 167,100 shares during the period. Quarry LP purchased a new position in Travere Therapeutics in the third quarter valued at about $105,000. Parkman Healthcare Partners LLC grew its position in shares of Travere Therapeutics by 12.0% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 1,086,067 shares of the company’s stock valued at $15,194,000 after acquiring an additional 116,175 shares during the period. Finally, Bellevue Group AG purchased a new stake in shares of Travere Therapeutics during the 3rd quarter worth approximately $434,000.

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.