Travere Therapeutics, Inc. (NASDAQ:TVTX) Receives $30.62 Consensus Target Price from Analysts

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) have earned a consensus rating of “Moderate Buy” from the fourteen research firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $30.62.

TVTX has been the subject of several recent analyst reports. Citigroup upped their price target on Travere Therapeutics from $31.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, February 24th. Scotiabank increased their target price on Travere Therapeutics from $27.00 to $32.00 and gave the company a “sector outperform” rating in a research note on Wednesday, February 12th. Evercore ISI increased their target price on Travere Therapeutics from $33.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Canaccord Genuity Group increased their target price on Travere Therapeutics from $22.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Travere Therapeutics in a research note on Friday, February 21st.

Insiders Place Their Bets

In other news, CEO Eric M. Dube sold 11,375 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $24.04, for a total value of $273,455.00. Following the completion of the transaction, the chief executive officer now directly owns 419,173 shares of the company’s stock, valued at approximately $10,076,918.92. This represents a 2.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Peter Heerma sold 1,584 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $18.94, for a total value of $30,000.96. Following the completion of the transaction, the insider now directly owns 106,374 shares of the company’s stock, valued at approximately $2,014,723.56. The trade was a 1.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 206,335 shares of company stock worth $4,453,012. 3.75% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Travere Therapeutics

Hedge funds have recently modified their holdings of the stock. Aigen Investment Management LP acquired a new stake in Travere Therapeutics during the 3rd quarter valued at $170,000. Oppenheimer & Co. Inc. acquired a new stake in Travere Therapeutics during the 3rd quarter valued at $673,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Travere Therapeutics by 11.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 525,381 shares of the company’s stock valued at $7,350,000 after purchasing an additional 52,985 shares in the last quarter. Intech Investment Management LLC acquired a new stake in Travere Therapeutics during the 3rd quarter valued at $283,000. Finally, The Manufacturers Life Insurance Company increased its holdings in Travere Therapeutics by 61.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 47,045 shares of the company’s stock valued at $658,000 after purchasing an additional 17,931 shares in the last quarter.

Travere Therapeutics Stock Performance

TVTX opened at $20.70 on Friday. The company has a market cap of $1.84 billion, a PE ratio of -5.05 and a beta of 0.75. The stock has a 50-day moving average of $20.42 and a 200-day moving average of $18.01. Travere Therapeutics has a 52-week low of $5.12 and a 52-week high of $25.29. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings results on Thursday, February 20th. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.15). The company had revenue of $74.79 million for the quarter, compared to the consensus estimate of $72.38 million. Travere Therapeutics had a negative return on equity of 1,636.87% and a negative net margin of 137.90%. As a group, equities research analysts forecast that Travere Therapeutics will post -1.4 earnings per share for the current fiscal 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.