Evercore ISI Issues Positive Forecast for Travere Therapeutics (NASDAQ:TVTX) Stock Price

Travere Therapeutics (NASDAQ:TVTX) had its price target lifted by Evercore ISI from $33.00 to $45.00 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Canaccord Genuity Group boosted their price objective on Travere Therapeutics from $22.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday. Scotiabank lifted their price target on Travere Therapeutics from $23.00 to $27.00 and gave the stock a “sector outperform” rating in a report on Friday, November 1st. Barclays upped their price objective on Travere Therapeutics from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Wells Fargo & Company raised Travere Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $9.00 to $27.00 in a report on Monday, October 21st. Finally, Cantor Fitzgerald began coverage on shares of Travere Therapeutics in a research report on Friday, January 10th. They issued an “overweight” rating for the company. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $27.77.

Travere Therapeutics Stock Performance

Shares of TVTX stock opened at $23.20 on Wednesday. Travere Therapeutics has a 52 week low of $5.12 and a 52 week high of $25.29. The company has a 50-day simple moving average of $19.06 and a 200 day simple moving average of $15.95. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96.

Insider Buying and Selling

In related news, CEO Eric M. Dube sold 10,736 shares of Travere Therapeutics stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $19.46, for a total value of $208,922.56. Following the transaction, the chief executive officer now directly owns 351,239 shares of the company’s stock, valued at $6,835,110.94. This trade represents a 2.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Sandra Calvin sold 54,244 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $25.00, for a total value of $1,356,100.00. Following the sale, the chief accounting officer now owns 54,410 shares of the company’s stock, valued at $1,360,250. The trade was a 49.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 218,425 shares of company stock valued at $4,674,259 over the last quarter. 3.75% of the stock is owned by company insiders.

Hedge Funds Weigh In On Travere Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. R Squared Ltd bought a new stake in shares of Travere Therapeutics during the 4th quarter worth $53,000. CWM LLC raised its stake in Travere Therapeutics by 158.5% during the third quarter. CWM LLC now owns 4,999 shares of the company’s stock worth $70,000 after acquiring an additional 3,065 shares in the last quarter. Quarry LP acquired a new position in Travere Therapeutics during the third quarter worth about $105,000. Aigen Investment Management LP bought a new position in shares of Travere Therapeutics in the third quarter worth about $170,000. Finally, Victory Capital Management Inc. acquired a new stake in shares of Travere Therapeutics in the 4th quarter valued at approximately $182,000.

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.