Scotiabank Increases Travere Therapeutics (NASDAQ:TVTX) Price Target to $32.00

Travere Therapeutics (NASDAQ:TVTX) had its price objective boosted by equities researchers at Scotiabank from $27.00 to $32.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “sector outperform” rating on the stock. Scotiabank’s price objective indicates a potential upside of 34.91% from the stock’s previous close.

Several other research firms also recently commented on TVTX. Evercore ISI lifted their price objective on Travere Therapeutics from $33.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday. Canaccord Genuity Group lifted their price target on Travere Therapeutics from $22.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday. Piper Sandler increased their price objective on Travere Therapeutics from $12.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Barclays raised their target price on shares of Travere Therapeutics from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, Cantor Fitzgerald began coverage on shares of Travere Therapeutics in a research report on Friday, January 10th. They set an “overweight” rating for the company. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $27.77.

Travere Therapeutics Price Performance

TVTX opened at $23.72 on Wednesday. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. The stock has a market capitalization of $1.85 billion, a P/E ratio of -5.21 and a beta of 0.72. The stock has a 50-day moving average price of $19.14 and a 200-day moving average price of $16.01. Travere Therapeutics has a 12-month low of $5.12 and a 12-month high of $25.29.

Insiders Place Their Bets

In other Travere Therapeutics news, insider Peter Heerma sold 1,584 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $18.94, for a total value of $30,000.96. Following the completion of the transaction, the insider now owns 106,374 shares in the company, valued at approximately $2,014,723.56. This represents a 1.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Sandra Calvin sold 15,000 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $17.22, for a total transaction of $258,300.00. Following the sale, the chief accounting officer now owns 54,927 shares in the company, valued at approximately $945,842.94. This trade represents a 21.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 218,425 shares of company stock worth $4,674,259 over the last three months. Company insiders own 3.75% of the company’s stock.

Hedge Funds Weigh In On Travere Therapeutics

Several large investors have recently made changes to their positions in the business. Ameritas Investment Partners Inc. grew its stake in shares of Travere Therapeutics by 9.2% in the 4th quarter. Ameritas Investment Partners Inc. now owns 7,905 shares of the company’s stock worth $138,000 after buying an additional 667 shares during the last quarter. Creative Planning boosted its holdings in Travere Therapeutics by 4.3% in the third quarter. Creative Planning now owns 23,938 shares of the company’s stock worth $335,000 after acquiring an additional 995 shares in the last quarter. Sterling Capital Management LLC boosted its holdings in Travere Therapeutics by 859.8% in the fourth quarter. Sterling Capital Management LLC now owns 2,361 shares of the company’s stock worth $41,000 after acquiring an additional 2,115 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Travere Therapeutics by 2.2% in the fourth quarter. Rhumbline Advisers now owns 121,248 shares of the company’s stock worth $2,112,000 after acquiring an additional 2,640 shares during the last quarter. Finally, Arizona State Retirement System increased its holdings in shares of Travere Therapeutics by 13.5% during the fourth quarter. Arizona State Retirement System now owns 22,396 shares of the company’s stock valued at $390,000 after acquiring an additional 2,666 shares in the last quarter.

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.