Travere Therapeutics (NASDAQ:TVTX) Upgraded to “Overweight” by Wells Fargo & Company

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

Other equities research analysts have also issued research reports about the company. Guggenheim boosted their target price on Travere Therapeutics from $23.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Scotiabank started coverage on Travere Therapeutics in a research report on Wednesday, October 16th. They set a “sector outperform” rating and a $23.00 price target for the company. Bank of America upped their price target on Travere Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Canaccord Genuity Group lowered their price target on Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Finally, HC Wainwright lowered their price target on 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 analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Travere Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.38.

Travere Therapeutics Trading Up 0.7 %

Shares of TVTX stock opened at $18.09 on Monday. The company has a quick ratio of 2.99, a current ratio of 3.04 and a debt-to-equity ratio of 24.96. The business has a 50-day moving average price of $13.26 and a two-hundred day moving average price of $9.57. Travere Therapeutics has a 12-month low of $5.12 and a 12-month high of $19.25. The firm has a market cap of $1.38 billion, a P/E ratio of -9.62 and a beta of 0.73.

Travere Therapeutics (NASDAQ:TVTX) last released its earnings results on Thursday, August 1st. The company reported ($0.90) earnings per share 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 during the quarter, compared to the consensus estimate of $49.50 million. Equities analysts anticipate that Travere Therapeutics will post -3.95 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP William E. Rote sold 4,387 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $11.52, for a total value of $50,538.24. Following the sale, the senior vice president now owns 84,455 shares in the company, valued at $972,921.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Travere Therapeutics news, SVP William E. Rote sold 4,387 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $50,538.24. Following the sale, the senior vice president now directly owns 84,455 shares in the company, valued at approximately $972,921.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jula Inrig sold 2,191 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $25,240.32. Following the sale, the insider now owns 62,633 shares in the company, valued at approximately $721,532.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 110,707 shares of company stock worth $1,504,312 in the last 90 days. Insiders own 3.75% of the company’s stock.

Hedge Funds Weigh In On Travere Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. Semanteon Capital Management LP bought a new position in shares of Travere Therapeutics during the 3rd quarter valued at $513,000. 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 purchasing an additional 995 shares during the period. CWM LLC raised its holdings in Travere Therapeutics by 158.5% in the 3rd quarter. CWM LLC now owns 4,999 shares of the company’s stock worth $70,000 after purchasing an additional 3,065 shares during the period. Diversified Trust Co bought a new position in Travere Therapeutics in the 3rd quarter worth $161,000. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Travere Therapeutics by 203.0% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 615,000 shares of the company’s stock worth $5,055,000 after purchasing an additional 412,000 shares during the period.

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.