Travere Therapeutics (NASDAQ:TVTX) PT Raised to $20.00 at Bank of America

by · The Cerbat Gem

Travere Therapeutics (NASDAQ:TVTX – Get Free Report) had its target price lifted by equities researchers at Bank of America from $18.00 to $20.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s target price would indicate a potential upside of 16.89% from the stock’s previous close.

A number of other research analysts also recently commented on TVTX. Canaccord Genuity Group lowered their price objective on Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Wedbush boosted their price target on shares of Travere Therapeutics from $17.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday. Citigroup dropped their price objective on shares of Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating on the stock in a report on Friday, September 27th. HC Wainwright reduced their target price on shares of Travere Therapeutics from $23.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, September 27th. Finally, JPMorgan Chase & Co. upped their target price on shares of Travere Therapeutics from $20.00 to $23.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $19.75.

Get Our Latest Research Report on TVTX

Travere Therapeutics Trading Down 2.7 %

Travere Therapeutics stock opened at $17.11 on Wednesday. The company has a debt-to-equity ratio of 24.96, a quick ratio of 2.99 and a current ratio of 3.04. Travere Therapeutics has a 1 year low of $5.12 and a 1 year high of $18.60. The firm’s 50-day moving average is $11.63 and its 200-day moving average is $8.90. The company has a market cap of $1.30 billion, a P/E ratio of -8.15 and a beta of 0.73.

Travere Therapeutics (NASDAQ:TVTX – Get Free Report) last issued its earnings results on Thursday, August 1st. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.03). The business had revenue of $54.12 million during the quarter, compared to the consensus estimate of $49.50 million. Travere Therapeutics had a negative return on equity of 269.18% and a negative net margin of 82.14%. On average, equities analysts expect that Travere Therapeutics will post -3.95 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP William E. Rote sold 4,387 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $11.52, for a total value of $50,538.24. Following the transaction, the senior vice president now owns 84,455 shares in the company, valued at $972,921.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Travere Therapeutics news, SVP William E. Rote sold 4,387 shares of Travere Therapeutics 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 $50,538.24. Following the completion of the sale, the senior vice president now directly owns 84,455 shares in the company, valued at $972,921.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Eric M. Dube sold 21,125 shares of the business’s 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 directly owns 361,975 shares of the company’s stock, valued at $4,169,952. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 110,707 shares of company stock worth $1,504,312. Corporate insiders own 3.75% of the company’s stock.

Hedge Funds Weigh In On Travere Therapeutics

Several institutional investors have recently bought and sold shares of TVTX. EntryPoint Capital LLC acquired a new position in Travere Therapeutics in the 1st quarter valued at $32,000. CWM LLC boosted its holdings in Travere Therapeutics by 158.5% during the third quarter. CWM LLC now owns 4,999 shares of the company’s stock valued at $70,000 after acquiring an additional 3,065 shares during the period. Diversified Trust Co bought a new stake in Travere Therapeutics during the third quarter valued at about $161,000. DRW Securities LLC acquired a new stake in shares of Travere Therapeutics in the second quarter valued at about $95,000. Finally, Forefront Analytics LLC increased its stake in shares of Travere Therapeutics by 10.2% in the second quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock worth $109,000 after purchasing an additional 1,237 shares during the period.

About Travere Therapeutics

(Get Free Report)

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.

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