Travere Therapeutics, Inc. (NASDAQ:TVTX) Receives $17.85 Average Target Price from Brokerages

Travere Therapeutics, Inc. (NASDAQ:TVTX) has been given a consensus recommendation of “Moderate Buy” by the fifteen ratings firms that are covering the company, MarketBeat.com reports. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $18.00.

TVTX has been the subject of a number of recent research reports. Piper Sandler raised their target price on Travere Therapeutics from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Thursday, January 18th. Guggenheim reissued a “neutral” rating on shares of Travere Therapeutics in a research report on Wednesday, March 27th. Wells Fargo & Company raised their target price on Travere Therapeutics from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Friday, February 16th. Wedbush reiterated an “outperform” rating and issued a $13.00 price target on shares of Travere Therapeutics in a research report on Wednesday, April 17th. Finally, HC Wainwright lifted their price target on Travere Therapeutics from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th.

Travere Therapeutics Stock Performance

Shares of Travere Therapeutics stock opened at $5.26 on Wednesday. The business’s fifty day simple moving average is $7.28 and its 200 day simple moving average is $7.65. The firm has a market capitalization of $400.34 million, a P/E ratio of -3.27 and a beta of 0.58. Travere Therapeutics has a 12 month low of $5.12 and a 12 month high of $22.75. The company has a current ratio of 3.47, a quick ratio of 3.41 and a debt-to-equity ratio of 1.88.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings results on Thursday, February 15th. The company reported ($1.16) EPS for the quarter, topping analysts’ consensus estimates of ($1.27) by $0.11. The business had revenue of $45.06 million for the quarter, compared to analyst estimates of $41.25 million. Travere Therapeutics had a negative return on equity of 177.97% and a negative net margin of 56.02%. As a group, analysts anticipate that Travere Therapeutics will post -3.1 EPS for the current year.

Insiders Place Their Bets

In other Travere Therapeutics news, CFO Christopher R. Cline sold 3,818 shares of Travere Therapeutics stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $8.53, for a total transaction of $32,567.54. Following the completion of the sale, the chief financial officer now owns 70,903 shares of the company’s stock, valued at $604,802.59. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Christopher R. Cline sold 3,818 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $8.53, for a total value of $32,567.54. Following the completion of the sale, the chief financial officer now owns 70,903 shares of the company’s stock, valued at approximately $604,802.59. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP William E. Rote sold 4,764 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $8.71, for a total value of $41,494.44. Following the completion of the sale, the senior vice president now directly owns 80,720 shares of the company’s stock, valued at approximately $703,071.20. The disclosure for this sale can be found here. Insiders sold a total of 34,773 shares of company stock valued at $300,625 over the last 90 days. Insiders own 3.75% of the company’s stock.

Institutional Investors Weigh In On Travere Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of TVTX. SG Americas Securities LLC bought a new stake in shares of Travere Therapeutics in the 3rd quarter valued at about $1,179,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Travere Therapeutics by 32.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,511 shares of the company’s stock valued at $148,000 after purchasing an additional 4,007 shares during the last quarter. Emerald Advisers LLC raised its position in Travere Therapeutics by 64.9% during the 3rd quarter. Emerald Advisers LLC now owns 1,060,302 shares of the company’s stock valued at $9,479,000 after purchasing an additional 417,250 shares during the last quarter. Emerald Mutual Fund Advisers Trust raised its position in Travere Therapeutics by 44.4% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 764,603 shares of the company’s stock valued at $6,836,000 after purchasing an additional 235,085 shares during the last quarter. Finally, Cheyne Capital Management UK LLP bought a new position in Travere Therapeutics during the 3rd quarter valued at approximately $234,000.

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.