Travere Therapeutics (NASDAQ:TVTX) PT Lowered to $23.00

Travere Therapeutics (NASDAQ:TVTX) had its price target cut by analysts at Guggenheim from $25.00 to $23.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Guggenheim’s target price indicates a potential upside of 64.17% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. Barclays lifted their target price on Travere Therapeutics from $12.00 to $14.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Citigroup lifted their target price on Travere Therapeutics from $14.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Wedbush lifted their target price on Travere Therapeutics from $13.00 to $16.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Canaccord Genuity Group lifted their target price on Travere Therapeutics from $18.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Finally, Piper Sandler lifted their target price on Travere Therapeutics from $11.00 to $12.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Travere Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $16.82.

Travere Therapeutics Trading Down 6.8 %

NASDAQ TVTX opened at $14.01 on Friday. The firm has a market cap of $1.07 billion, a P/E ratio of -6.67 and a beta of 0.71. The company has a debt-to-equity ratio of 24.96, a current ratio of 3.04 and a quick ratio of 2.99. The stock’s 50-day moving average is $10.66 and its 200-day moving average is $8.45. Travere Therapeutics has a one year low of $5.12 and a one year high of $15.36.

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

Insiders Place Their Bets

In other news, 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 transaction, the chief executive officer now directly owns 361,975 shares in the company, valued at approximately $4,169,952. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, 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 transaction, the chief executive officer now directly owns 361,975 shares in the company, valued at approximately $4,169,952. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jula Inrig sold 2,191 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 value of $25,240.32. Following the transaction, the insider now owns 62,633 shares of the company’s stock, valued at $721,532.16. The disclosure for this sale can be found here. Insiders have sold 30,707 shares of company stock valued at $352,712 in the last 90 days. 3.75% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in TVTX. Crestline Management LP boosted its stake in shares of Travere Therapeutics by 32.6% during the 4th quarter. Crestline Management LP now owns 81,423 shares of the company’s stock worth $732,000 after acquiring an additional 20,002 shares during the period. Finepoint Capital LP boosted its stake in Travere Therapeutics by 60.2% in the 4th quarter. Finepoint Capital LP now owns 1,435,321 shares of the company’s stock valued at $12,904,000 after purchasing an additional 539,500 shares during the period. Rafferty Asset Management LLC boosted its stake in Travere Therapeutics by 18.6% in the 4th quarter. Rafferty Asset Management LLC now owns 429,161 shares of the company’s stock valued at $3,858,000 after purchasing an additional 67,168 shares during the period. Sectoral Asset Management Inc. bought a new stake in Travere Therapeutics in the 4th quarter valued at $2,469,000. Finally, Kynam Capital Management LP boosted its stake in Travere Therapeutics by 105.6% in the 4th quarter. Kynam Capital Management LP now owns 2,000,000 shares of the company’s stock valued at $17,980,000 after purchasing 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.