Travere Therapeutics (NASDAQ:TVTX) Price Target Raised to $22.00 at Piper Sandler

Travere Therapeutics (NASDAQ:TVTX) had its target price increased by Piper Sandler from $12.00 to $22.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

TVTX has been the subject of several other reports. Wedbush upped their target price on Travere Therapeutics from $17.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Bank of America raised their price objective on Travere Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. boosted their price objective on Travere Therapeutics from $20.00 to $23.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Scotiabank upped their price target on shares of Travere Therapeutics from $23.00 to $27.00 and gave the stock a “sector outperform” rating in a report on Friday, November 1st. Finally, Barclays raised their target price on shares of Travere Therapeutics from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $22.62.

Travere Therapeutics Price Performance

TVTX traded down $0.78 during trading on Thursday, hitting $17.69. 289,681 shares of the company traded hands, compared to its average volume of 1,400,077. Travere Therapeutics has a 1 year low of $5.12 and a 1 year high of $20.33. The stock’s 50-day simple moving average is $16.14 and its two-hundred day simple moving average is $10.88. The company has a market cap of $1.38 billion, a PE ratio of -4.06 and a beta of 0.70. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.70) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.01. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 537.74%. The firm had revenue of $62.90 million during the quarter, compared to analyst estimates of $60.87 million. During the same quarter in the prior year, the firm posted ($1.17) earnings per share. Travere Therapeutics’s quarterly revenue was up 69.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Travere Therapeutics will post -3.93 earnings per share for the current fiscal year.

Insider Buying and Selling at Travere Therapeutics

In related news, CEO Eric M. Dube sold 21,125 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 value of $243,360.00. Following the completion of the transaction, the chief executive officer now directly owns 361,975 shares of the company’s stock, valued at $4,169,952. This trade represents a 5.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Christopher R. Cline sold 2,490 shares of Travere Therapeutics stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 74,595 shares in the company, valued at $859,334.40. This represents a 3.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 110,707 shares of company stock valued at $1,504,312 over the last 90 days. 3.75% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. EntryPoint Capital LLC acquired a new position in shares of Travere Therapeutics during the 1st quarter valued at about $32,000. CWM LLC boosted its stake in shares of Travere Therapeutics by 158.5% in the third quarter. CWM LLC now owns 4,999 shares of the company’s stock valued at $70,000 after buying an additional 3,065 shares during the period. Diversified Trust Co acquired a new stake in Travere Therapeutics in the third quarter valued at $161,000. DRW Securities LLC bought a new position in Travere Therapeutics in the 2nd quarter valued at about $95,000. Finally, Aigen Investment Management LP purchased a new stake in shares of Travere Therapeutics during the 3rd quarter worth approximately $170,000.

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.