Travere Therapeutics (NASDAQ:TVTX) Price Target Increased to $18.00 by Analysts at Barclays

Travere Therapeutics (NASDAQ:TVTX) had its price target raised by Barclays from $14.00 to $18.00 in a report released on Tuesday, Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other research firms also recently commented on TVTX. Canaccord Genuity Group cut their target price on shares of Travere Therapeutics from $23.00 to $22.00 and set a buy rating on the stock in a research report on Monday, September 30th. JPMorgan Chase & Co. raised their target price on shares of Travere Therapeutics from $20.00 to $23.00 and gave the company an overweight rating in a research report on Friday, September 13th. Piper Sandler raised their target price on shares of Travere Therapeutics from $11.00 to $12.00 and gave the company a neutral rating in a research report on Friday, August 2nd. Wedbush raised their target price on shares of Travere Therapeutics from $13.00 to $16.00 and gave the company an outperform rating in a research report on Friday, August 2nd. Finally, Guggenheim cut their target price on shares of Travere Therapeutics from $25.00 to $23.00 and set a buy rating on the stock in a research report on Friday, September 27th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $17.09.

Travere Therapeutics Trading Up 11.6 %

Shares of TVTX opened at $15.23 on Tuesday. Travere Therapeutics has a 1-year low of $5.12 and a 1-year high of $15.46. The company has a 50-day moving average of $10.99 and a 200 day moving average of $8.61. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of -7.25 and a beta of 0.73. The company has a debt-to-equity ratio of 24.96, a current ratio of 3.04 and a quick ratio of 2.99.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $49.50 million. On average, research analysts expect that Travere Therapeutics will post -3.95 EPS for the current year.

Insider Buying and Selling

In related news, Director Jeffrey A. Meckler sold 40,000 shares of Travere Therapeutics stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $14.06, for a total value of $562,400.00. Following the completion of the sale, the director now directly owns 81,000 shares in the company, valued at $1,138,860. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Jeffrey A. Meckler sold 40,000 shares of Travere Therapeutics stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $14.06, for a total value of $562,400.00. Following the completion of the sale, the director now directly owns 81,000 shares in the company, valued at $1,138,860. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Eric M. Dube sold 21,125 shares of Travere Therapeutics stock in a transaction that occurred 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 sale, the chief executive officer now owns 361,975 shares of the company’s stock, valued at $4,169,952. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 70,707 shares of company stock worth $915,112 in the last three months. Corporate insiders own 3.75% of the company’s stock.

Institutional Trading of Travere Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. EntryPoint Capital LLC acquired a new stake in Travere Therapeutics during the 1st quarter valued at approximately $32,000. DRW Securities LLC acquired a new stake in Travere Therapeutics during the 2nd quarter valued at approximately $95,000. Forefront Analytics LLC lifted its stake in Travere Therapeutics by 10.2% during the 2nd quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock valued at $109,000 after acquiring an additional 1,237 shares during the period. China Universal Asset Management Co. Ltd. lifted its stake in Travere Therapeutics by 68.6% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 14,652 shares of the company’s stock valued at $113,000 after acquiring an additional 5,962 shares during the period. Finally, Sei Investments Co. acquired a new stake in Travere Therapeutics during the 2nd quarter valued at approximately $117,000.

Travere Therapeutics Company Profile

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.