Travere Therapeutics (NASDAQ:TVTX) Price Target Increased to $18.00 by Analysts at Canaccord Genuity Group

Travere Therapeutics (NASDAQ:TVTX) had its price objective lifted by Canaccord Genuity Group from $15.00 to $18.00 in a research note published on Tuesday morning, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Several other research firms have also recently weighed in on TVTX. Guggenheim reissued a neutral rating on shares of Travere Therapeutics in a report on Wednesday, March 27th. HC Wainwright boosted their price target on Travere Therapeutics from $17.00 to $19.00 and gave the company a buy rating in a research note on Wednesday, April 24th. Piper Sandler upped their price target on shares of Travere Therapeutics from $10.00 to $11.00 and gave the company a neutral rating in a research report on Thursday, January 18th. Wedbush reissued an outperform rating and issued a $13.00 price objective on shares of Travere Therapeutics in a report on Wednesday, April 17th. Finally, Wells Fargo & Company upped their target price on shares of Travere Therapeutics from $8.00 to $9.00 and gave the company an equal weight rating in a report on Friday, February 16th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Travere Therapeutics has an average rating of Moderate Buy and a consensus price target of $16.69.

Travere Therapeutics Price Performance

Shares of TVTX opened at $6.75 on Tuesday. Travere Therapeutics has a fifty-two week low of $5.12 and a fifty-two week high of $19.54. The firm’s 50-day simple moving average is $7.01 and its two-hundred day simple moving average is $7.60. The stock has a market cap of $513.74 million, a PE ratio of -4.19 and a beta of 0.69. The company has a debt-to-equity ratio of 1.88, a quick ratio of 3.41 and a current ratio of 3.47.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings results on Monday, May 6th. The company reported ($1.76) earnings per share for the quarter, missing the consensus estimate of ($0.98) by ($0.78). Travere Therapeutics had a negative return on equity of 177.97% and a negative net margin of 56.02%. The company had revenue of $41.40 million during the quarter, compared to analysts’ expectations of $43.46 million. During the same quarter in the previous year, the company earned ($1.27) EPS. The business’s quarterly revenue was up 34.0% on a year-over-year basis. Analysts anticipate that Travere Therapeutics will post -3.1 earnings per share for the current fiscal year.

Institutional Trading of Travere Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in TVTX. Signaturefd LLC grew its holdings in Travere Therapeutics by 1,656.4% during the 4th quarter. Signaturefd LLC now owns 3,021 shares of the company’s stock valued at $27,000 after buying an additional 2,849 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in Travere Therapeutics by 968.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,650 shares of the company’s stock valued at $51,000 after acquiring an additional 5,121 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in Travere Therapeutics by 353.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,690 shares of the company’s stock valued at $78,000 after acquiring an additional 6,773 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Travere Therapeutics in the 4th quarter worth $137,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of 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.

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.