Travere Therapeutics (NASDAQ:TVTX) Price Target Raised to $22.00 at Piper Sandler

Travere Therapeutics (NASDAQ:TVTX) had its target price lifted by Piper Sandler from $12.00 to $22.00 in a research report released on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

TVTX has been the topic of a number of other research reports. Guggenheim upped their target price on shares of Travere Therapeutics from $23.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. upped their target price on shares of Travere Therapeutics from $20.00 to $23.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. Wells Fargo & Company upgraded shares of Travere Therapeutics from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $9.00 to $27.00 in a report on Monday, October 21st. Canaccord Genuity Group decreased their price objective on shares of Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating for the company in a report on Monday, September 30th. Finally, HC Wainwright reduced their price target on shares of Travere Therapeutics from $23.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, September 27th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.62.

Travere Therapeutics Stock Down 4.1 %

Shares of NASDAQ TVTX opened at $17.72 on Thursday. Travere Therapeutics has a 52-week low of $5.12 and a 52-week high of $20.33. The firm has a fifty day moving average of $16.27 and a 200-day moving average of $11.04. The stock has a market capitalization of $1.38 billion, a PE ratio of -3.89 and a beta of 0.70. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.70) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.01. The company had revenue of $62.90 million during the quarter, compared to analysts’ expectations of $60.87 million. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 537.74%. The firm’s revenue for the quarter was up 69.6% on a year-over-year basis. During the same period in the prior year, the company posted ($1.17) EPS. On average, analysts anticipate that Travere Therapeutics will post -3.93 EPS for the current year.

Insider Activity at Travere Therapeutics

In other Travere Therapeutics news, Director Gary A. Lyons sold 40,000 shares of the firm’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $14.73, for a total value of $589,200.00. Following the sale, the director now directly owns 51,000 shares in the company, valued at $751,230. This trade represents a 43.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Eric M. Dube sold 21,125 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $243,360.00. Following the transaction, the chief executive officer now directly owns 361,975 shares of the company’s stock, valued at $4,169,952. The trade was a 5.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 110,707 shares of company stock worth $1,504,312. 3.75% of the stock is owned by insiders.

Hedge Funds Weigh In On Travere Therapeutics

A number of institutional investors have recently modified their holdings of TVTX. EntryPoint Capital LLC acquired a new position in Travere Therapeutics during the first quarter valued at approximately $32,000. CWM LLC increased its position in shares of 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. DRW Securities LLC bought a new stake in shares of Travere Therapeutics during the second quarter worth $95,000. Quarry LP bought a new stake in shares of Travere Therapeutics during the third quarter worth $105,000. Finally, Forefront Analytics LLC increased its position in shares of Travere Therapeutics by 10.2% during the second quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock worth $109,000 after acquiring an additional 1,237 shares in 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.