Citigroup Boosts Travere Therapeutics (NASDAQ:TVTX) Price Target to $35.00

Travere Therapeutics (NASDAQ:TVTX) had its price objective boosted by investment analysts at Citigroup from $31.00 to $35.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price objective would suggest a potential upside of 63.90% from the company’s current price.

Several other research firms have also recently weighed in on TVTX. Scotiabank increased their price target on Travere Therapeutics from $27.00 to $32.00 and gave the company a “sector outperform” rating in a report 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 report on Wednesday, February 12th. Evercore ISI boosted their price target on Travere Therapeutics from $33.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Barclays upped their price target on shares of Travere Therapeutics from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Travere Therapeutics in a research report on Friday. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Travere Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $29.00.

Travere Therapeutics Stock Performance

NASDAQ:TVTX traded down $0.63 during mid-day trading on Monday, reaching $21.35. The company’s stock had a trading volume of 480,678 shares, compared to its average volume of 1,601,815. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. The stock has a market cap of $1.67 billion, a P/E ratio of -5.18 and a beta of 0.72. The firm’s fifty day moving average price is $19.68 and its two-hundred day moving average price is $16.68. Travere Therapeutics has a 12-month low of $5.12 and a 12-month high of $25.29.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($0.73) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.15). The company had revenue of $74.79 million during 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%. On average, equities analysts forecast that Travere Therapeutics will post -1.4 EPS for the current fiscal year.

Insider Activity at Travere Therapeutics

In other Travere Therapeutics news, CAO Sandra Calvin sold 54,244 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $25.00, for a total transaction of $1,356,100.00. Following the sale, the chief accounting officer now directly owns 54,410 shares of the company’s stock, valued at $1,360,250. The trade was a 49.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP William E. Rote sold 2,437 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $19.46, for a total value of $47,424.02. Following the completion of the sale, the senior vice president now directly owns 83,170 shares of the company’s stock, valued at $1,618,488.20. The trade was a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 206,335 shares of company stock valued at $4,453,012 over the last 90 days. 3.75% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Driehaus Capital Management LLC grew its holdings in Travere Therapeutics by 608.1% during the 4th quarter. Driehaus Capital Management LLC now owns 2,217,975 shares of the company’s stock valued at $38,637,000 after purchasing an additional 1,904,733 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Travere Therapeutics during the fourth quarter valued at approximately $21,075,000. RA Capital Management L.P. bought a new position in shares of Travere Therapeutics during the fourth quarter valued at approximately $20,033,000. Jennison Associates LLC purchased a new stake in shares of Travere Therapeutics in the fourth quarter worth approximately $14,222,000. Finally, Jacobs Levy Equity Management Inc. lifted its stake in shares of Travere Therapeutics by 36.7% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,174,213 shares of the company’s stock worth $37,875,000 after acquiring an additional 583,836 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.