Analysts Set Travere Therapeutics, Inc. (NASDAQ:TVTX) Price Target at $17.58

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) have been assigned a consensus rating of “Moderate Buy” from the eleven brokerages that are currently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $17.91.

A number of research analysts recently issued reports on the company. Canaccord Genuity Group boosted their price target on Travere Therapeutics from $18.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Piper Sandler boosted their target price on Travere Therapeutics from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. HC Wainwright raised their price target on Travere Therapeutics from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Bank of America boosted their price objective on shares of Travere Therapeutics from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Finally, Barclays raised their target price on shares of Travere Therapeutics from $12.00 to $14.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd.

Insider Transactions at Travere Therapeutics

In other Travere Therapeutics news, CFO Christopher R. Cline sold 2,490 shares of Travere Therapeutics stock in a transaction on Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $28,684.80. Following the completion of the transaction, the chief financial officer now owns 74,595 shares in the company, valued at $859,334.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Travere Therapeutics news, insider Jula Inrig sold 2,191 shares of Travere Therapeutics stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $25,240.32. Following the completion of the transaction, the insider now directly owns 62,633 shares of the company’s stock, valued at $721,532.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Christopher R. Cline sold 2,490 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $28,684.80. Following the sale, the chief financial officer now owns 74,595 shares in the company, valued at approximately $859,334.40. The disclosure for this sale can be found here. Insiders have sold a total of 30,707 shares of company stock valued at $352,712 in the last ninety days. 3.75% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Travere Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. EntryPoint Capital LLC purchased a new position in shares of Travere Therapeutics in the first quarter worth $32,000. DRW Securities LLC bought a new stake in Travere Therapeutics in the 2nd quarter worth about $95,000. Forefront Analytics LLC raised its position in Travere Therapeutics by 10.2% in the 2nd quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock worth $109,000 after buying an additional 1,237 shares during the last quarter. Sei Investments Co. bought a new position in Travere Therapeutics during the 2nd quarter valued at about $117,000. Finally, Quest Partners LLC grew its stake in shares of Travere Therapeutics by 240.6% in the second quarter. Quest Partners LLC now owns 14,336 shares of the company’s stock worth $118,000 after acquiring an additional 10,127 shares during the period.

Travere Therapeutics Stock Performance

NASDAQ:TVTX opened at $14.54 on Friday. 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 has a fifty-two week low of $5.12 and a fifty-two week high of $15.36. The firm has a market cap of $1.11 billion, a PE ratio of -6.92 and a beta of 0.71. The business has a 50 day moving average price of $10.47 and a 200-day moving average price of $8.35.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $54.12 million for the quarter, compared to analysts’ expectations of $49.50 million. Equities research analysts predict that Travere Therapeutics will post -3.95 earnings per share for the current year.

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.