Travere Therapeutics (NASDAQ:TVTX) Price Target Raised to $32.00

Travere Therapeutics (NASDAQ:TVTX) had its price objective increased by analysts at Scotiabank from $27.00 to $32.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the stock. Scotiabank’s price target indicates a potential upside of 37.97% from the company’s previous close.

TVTX has been the topic of a number of other research reports. Cantor Fitzgerald initiated coverage on Travere Therapeutics in a report on Friday, January 10th. They set an “overweight” rating on the stock. Evercore ISI lifted their price objective on Travere Therapeutics from $33.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday. Piper Sandler upped their price target on shares of Travere Therapeutics from $12.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Canaccord Genuity Group raised their target price on Travere Therapeutics from $22.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Barclays upped their price target on Travere Therapeutics from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. One equities research 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, the stock has a consensus rating of “Moderate Buy” and an average price target of $27.77.

Travere Therapeutics Stock Performance

Travere Therapeutics stock traded down $0.56 during mid-day trading on Wednesday, reaching $23.19. 641,211 shares of the company were exchanged, compared to its average volume of 1,526,587. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71. The firm’s 50-day simple moving average is $18.98 and its two-hundred day simple moving average is $15.90. Travere Therapeutics has a twelve month low of $5.12 and a twelve month high of $25.29. The firm has a market cap of $1.81 billion, a PE ratio of -5.13 and a beta of 0.72.

Insider Buying and Selling at Travere Therapeutics

In other Travere Therapeutics news, CAO Sandra Calvin sold 15,000 shares of the business’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $17.22, for a total value of $258,300.00. Following the completion of the sale, the chief accounting officer now owns 54,927 shares of the company’s stock, valued at $945,842.94. The trade was a 21.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Roy D. Baynes sold 10,000 shares of the stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $22.00, for a total transaction of $220,000.00. Following the completion of the sale, the director now directly owns 31,000 shares of the company’s stock, valued at approximately $682,000. This trade represents a 24.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 144,532 shares of company stock valued at $2,845,498 in the last 90 days. 4.06% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Travere Therapeutics

A number of institutional investors have recently added to or reduced their stakes in TVTX. Jennison Associates LLC bought a new stake in shares of Travere Therapeutics in the 4th quarter worth approximately $14,222,000. abrdn plc acquired a new position in shares of Travere Therapeutics in the fourth quarter valued at $6,829,000. Prudential Financial Inc. lifted its position in Travere Therapeutics by 60.5% in the fourth quarter. Prudential Financial Inc. now owns 969,141 shares of the company’s stock worth $16,882,000 after purchasing an additional 365,200 shares during the period. Emerald Advisers LLC boosted its stake in Travere Therapeutics by 19.8% during the third quarter. Emerald Advisers LLC now owns 1,960,659 shares of the company’s stock worth $27,430,000 after buying an additional 323,513 shares in the last quarter. Finally, Impax Asset Management Group plc bought a new stake in Travere Therapeutics in the 4th quarter valued at $5,226,000.

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.