Evercore ISI Raises Travere Therapeutics (NASDAQ:TVTX) Price Target to $45.00

Travere Therapeutics (NASDAQ:TVTX) had its price objective upped by stock analysts at Evercore ISI from $33.00 to $45.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Evercore ISI’s target price would suggest a potential upside of 89.71% from the stock’s previous close.

A number of other equities research analysts have also weighed in on the company. Cantor Fitzgerald assumed coverage on Travere Therapeutics in a report on Friday, January 10th. They issued an “overweight” rating on the stock. Piper Sandler lifted their price target on Travere Therapeutics from $12.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Canaccord Genuity Group increased their price objective on Travere Therapeutics from $22.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday. HC Wainwright boosted their target price on shares of Travere Therapeutics from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Finally, Wells Fargo & Company upgraded shares of Travere Therapeutics from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $9.00 to $27.00 in a report on Monday, October 21st. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Travere Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $27.77.

Travere Therapeutics Stock Up 2.2 %

TVTX opened at $23.72 on Wednesday. The business has a 50 day moving average price of $19.14 and a two-hundred day moving average price of $16.01. Travere Therapeutics has a 52 week low of $5.12 and a 52 week high of $25.29. The company has a market cap of $1.85 billion, a PE ratio of -5.21 and a beta of 0.72. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96.

Insider Buying and Selling at Travere Therapeutics

In related news, CAO Sandra Calvin sold 12,090 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $18.30, for a total transaction of $221,247.00. Following the sale, the chief accounting officer now owns 54,927 shares of the company’s stock, valued at $1,005,164.10. This trade represents a 18.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Peter Heerma sold 3,074 shares of Travere Therapeutics stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $25.00, for a total value of $76,850.00. Following the sale, the insider now owns 127,634 shares of the company’s stock, valued at approximately $3,190,850. This represents a 2.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 218,425 shares of company stock worth $4,674,259. 3.75% of the stock is owned by insiders.

Hedge Funds Weigh In On Travere Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the company. Ameritas Investment Partners Inc. raised its holdings in Travere Therapeutics by 9.2% in the 4th quarter. Ameritas Investment Partners Inc. now owns 7,905 shares of the company’s stock valued at $138,000 after acquiring an additional 667 shares during the last quarter. Creative Planning grew its position in shares of Travere Therapeutics by 4.3% in the third quarter. Creative Planning now owns 23,938 shares of the company’s stock valued at $335,000 after purchasing an additional 995 shares during the period. Sterling Capital Management LLC increased its stake in Travere Therapeutics by 859.8% in the fourth quarter. Sterling Capital Management LLC now owns 2,361 shares of the company’s stock valued at $41,000 after purchasing an additional 2,115 shares during the last quarter. Rhumbline Advisers lifted its position in Travere Therapeutics by 2.2% during the fourth quarter. Rhumbline Advisers now owns 121,248 shares of the company’s stock worth $2,112,000 after buying an additional 2,640 shares during the period. Finally, Arizona State Retirement System boosted its stake in Travere Therapeutics by 13.5% in the 4th quarter. Arizona State Retirement System now owns 22,396 shares of the company’s stock worth $390,000 after buying an additional 2,666 shares during the last quarter.

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.