Analysts Set Travere Therapeutics, Inc. (NASDAQ:TVTX) Target Price at $68.00

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) have been given a consensus recommendation of “Moderate Buy” by the twelve ratings firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and ten have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $68.10.

Several research analysts have recently weighed in on the stock. Guggenheim lifted their price target on shares of Travere Therapeutics from $65.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. HC Wainwright reaffirmed a “buy” rating and issued a $67.00 target price on shares of Travere Therapeutics in a report on Tuesday. Piper Sandler reiterated an “overweight” rating on shares of Travere Therapeutics in a research report on Monday, August 17th. Wells Fargo & Company boosted their price target on Travere Therapeutics from $50.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, June 12th. Finally, Wedbush restated an “outperform” rating and issued a $76.00 price target on shares of Travere Therapeutics in a research report on Tuesday.

Travere Therapeutics Stock Performance

Shares of NASDAQ TVTX opened at $60.28 on Wednesday. The company has a quick ratio of 3.99, a current ratio of 4.05 and a debt-to-equity ratio of 24.58. Travere Therapeutics has a 52-week low of $22.06 and a 52-week high of $68.73. The company has a market cap of $5.68 billion, a PE ratio of -131.04 and a beta of 1.05. The firm’s 50-day moving average price is $61.95 and its 200-day moving average price is $49.21.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.03. The firm had revenue of $169.58 million for the quarter, compared to analysts’ expectations of $157.27 million. Travere Therapeutics had a negative return on equity of 55.15% and a negative net margin of 7.35%.The company’s revenue was up 48.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.13 EPS. As a group, analysts anticipate that Travere Therapeutics will post -0.54 EPS for the current year.

Insider Activity at Travere Therapeutics

In other news, EVP Jula Inrig sold 44,674 shares of the stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $62.34, for a total value of $2,784,977.16. Following the completion of the sale, the executive vice president directly owned 100,491 shares of the company’s stock, valued at $6,264,608.94. This represents a 30.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider William E. Rote sold 112,850 shares of the firm’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $63.33, for a total transaction of $7,146,790.50. Following the sale, the insider owned 98,197 shares in the company, valued at $6,218,816.01. The trade was a 53.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,050,294 shares of company stock worth $66,336,443 in the last quarter. 4.44% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Travere Therapeutics

Institutional investors have recently bought and sold shares of the business. S&CO Inc. purchased a new position in Travere Therapeutics during the second quarter valued at $3,181,000. Artia Global Partners LP purchased a new stake in Travere Therapeutics in the 2nd quarter worth $19,260,000. Profund Advisors LLC lifted its stake in Travere Therapeutics by 209.3% in the 4th quarter. Profund Advisors LLC now owns 62,604 shares of the company’s stock worth $2,392,000 after purchasing an additional 42,366 shares in the last quarter. Quantinno Capital Management LP boosted its holdings in shares of Travere Therapeutics by 354.4% during the 1st quarter. Quantinno Capital Management LP now owns 68,317 shares of the company’s stock valued at $2,030,000 after purchasing an additional 53,283 shares during the last quarter. Finally, Elmind Capital LP bought a new position in shares of Travere Therapeutics during the 2nd quarter valued at about $16,622,606.

Travere Therapeutics Company Profile

Travere Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare kidney and immune-mediated diseases. The company’s work is centered on conditions with significant unmet medical needs, including diseases that can lead to progressive kidney damage and kidney failure.

Travere’s principal commercial product is FILSPARI (sparsentan), an oral therapy for adults with primary immunoglobulin A nephropathy, or IgA nephropathy, who are at risk of disease progression.