Travere Therapeutics (NASDAQ:TVTX) Given New $19.00 Price Target at Citigroup

Travere Therapeutics (NASDAQ:TVTX) had its price target reduced by Citigroup from $23.00 to $19.00 in a research note published on Friday, Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages also recently weighed in on TVTX. Wedbush boosted their price target on Travere Therapeutics from $13.00 to $16.00 and gave the company an outperform rating in a report on Friday, August 2nd. Bank of America lowered their price target on Travere Therapeutics from $19.00 to $18.00 and set a buy rating for the company in a report on Friday. Guggenheim lowered their price target on Travere Therapeutics from $25.00 to $23.00 and set a buy rating for the company in a report on Friday. Piper Sandler boosted their price target on Travere Therapeutics from $11.00 to $12.00 and gave the company a neutral rating in a report on Friday, August 2nd. Finally, Barclays boosted their price target on Travere Therapeutics from $12.00 to $14.00 and gave the company an overweight rating in a report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $16.73.

Travere Therapeutics Price Performance

TVTX stock opened at $13.99 on Friday. The company has a quick ratio of 2.99, a current ratio of 3.04 and a debt-to-equity ratio of 24.96. Travere Therapeutics has a 52-week low of $5.12 and a 52-week high of $15.36. The stock’s 50 day moving average is $10.74 and its two-hundred day moving average is $8.49. The company has a market capitalization of $1.07 billion, a PE ratio of -6.66 and a beta of 0.71.

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

Insider Buying and Selling

In other Travere Therapeutics news, CEO Eric M. Dube sold 21,125 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $243,360.00. Following the completion of the transaction, the chief executive officer now owns 361,975 shares in the company, valued at approximately $4,169,952. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Travere Therapeutics news, CEO Eric M. Dube sold 21,125 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $243,360.00. Following the completion of the transaction, the chief executive officer now owns 361,975 shares in the company, valued at approximately $4,169,952. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey A. Meckler sold 40,000 shares of the business’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $14.06, for a total value of $562,400.00. Following the transaction, the director now owns 81,000 shares of the company’s stock, valued at approximately $1,138,860. The disclosure for this sale can be found here. Insiders sold a total of 70,707 shares of company stock worth $915,112 in the last three months. 3.75% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Crestline Management LP lifted its holdings in shares of Travere Therapeutics by 32.6% in the fourth quarter. Crestline Management LP now owns 81,423 shares of the company’s stock valued at $732,000 after buying an additional 20,002 shares during the period. Finepoint Capital LP lifted its holdings in shares of Travere Therapeutics by 60.2% in the fourth quarter. Finepoint Capital LP now owns 1,435,321 shares of the company’s stock valued at $12,904,000 after buying an additional 539,500 shares during the period. Rafferty Asset Management LLC lifted its holdings in shares of Travere Therapeutics by 18.6% in the fourth quarter. Rafferty Asset Management LLC now owns 429,161 shares of the company’s stock valued at $3,858,000 after buying an additional 67,168 shares during the period. Sectoral Asset Management Inc. acquired a new stake in shares of Travere Therapeutics in the fourth quarter valued at $2,469,000. Finally, Kynam Capital Management LP lifted its holdings in shares of Travere Therapeutics by 105.6% in the fourth quarter. Kynam Capital Management LP now owns 2,000,000 shares of the company’s stock valued at $17,980,000 after buying an additional 1,027,398 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.