Travere Therapeutics (NASDAQ:TVTX) Lifted to Overweight at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Travere Therapeutics (NASDAQ:TVTX) from an equal weight rating to an overweight rating in a report released on Monday morning, MarketBeat Ratings reports. They currently have $27.00 target price on the stock, up from their prior target price of $9.00.

Several other research analysts also recently commented on the stock. HC Wainwright decreased their target price on shares of Travere Therapeutics from $23.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, September 27th. Barclays boosted their price objective on shares of Travere Therapeutics from $14.00 to $18.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Guggenheim increased their target price on shares of Travere Therapeutics from $23.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Leerink Partners reaffirmed an “outperform” rating and set a $20.00 price target on shares of Travere Therapeutics in a research report on Tuesday, October 8th. Finally, Bank of America lifted their price objective on Travere Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $21.38.

Travere Therapeutics Price Performance

TVTX stock opened at $17.96 on Monday. The firm has a market cap of $1.37 billion, a P/E ratio of -8.55 and a beta of 0.73. The firm’s fifty day moving average is $13.08 and its 200 day moving average is $9.51. Travere Therapeutics has a 52 week low of $5.12 and a 52 week high of $19.25. The company has a debt-to-equity ratio of 24.96, a quick ratio of 2.99 and a current ratio of 3.04.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.03). Travere Therapeutics had a negative net margin of 82.14% and a negative return on equity of 269.18%. The company had revenue of $54.12 million for the quarter, compared to the consensus estimate of $49.50 million. Research analysts predict that Travere Therapeutics will post -3.95 earnings per share for the current year.

Insider Activity at Travere Therapeutics

In other Travere Therapeutics news, CEO Eric M. Dube sold 21,125 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $243,360.00. Following the sale, the chief executive officer now owns 361,975 shares in the company, valued at approximately $4,169,952. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Gary A. Lyons sold 40,000 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $14.73, for a total value of $589,200.00. Following the transaction, the director now owns 51,000 shares in the company, valued at $751,230. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Eric M. Dube sold 21,125 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $243,360.00. Following the sale, the chief executive officer now directly owns 361,975 shares in the company, valued at $4,169,952. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 110,707 shares of company stock valued at $1,504,312 in the last three months. Company insiders own 3.75% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Creative Planning raised its holdings in Travere Therapeutics by 4.3% in the 3rd quarter. Creative Planning now owns 23,938 shares of the company’s stock worth $335,000 after acquiring an additional 995 shares during the last quarter. Forefront Analytics LLC raised its stake in shares of Travere Therapeutics by 10.2% in the second quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock worth $109,000 after purchasing an additional 1,237 shares during the last quarter. ProShare Advisors LLC boosted its position in shares of Travere Therapeutics by 9.2% during the first quarter. ProShare Advisors LLC now owns 18,421 shares of the company’s stock valued at $142,000 after buying an additional 1,557 shares during the last quarter. Rice Hall James & Associates LLC increased its holdings in Travere Therapeutics by 3.8% in the 2nd quarter. Rice Hall James & Associates LLC now owns 76,174 shares of the company’s stock worth $626,000 after buying an additional 2,774 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in Travere Therapeutics by 10.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,009 shares of the company’s stock worth $240,000 after buying an additional 2,948 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.