Brokerages Set Travere Therapeutics, Inc. (NASDAQ:TVTX) Target Price at $27.77

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) have been assigned a consensus rating of “Moderate Buy” from the fourteen analysts that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $27.77.

A number of equities analysts have commented on the company. Canaccord Genuity Group lifted their target price on Travere Therapeutics from $22.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Cantor Fitzgerald restated an “overweight” rating on shares of Travere Therapeutics in a research note on Friday. HC Wainwright lifted their target price on Travere Therapeutics from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Evercore ISI lifted their target price on Travere Therapeutics from $33.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Finally, Scotiabank lifted their target price on Travere Therapeutics from $27.00 to $32.00 and gave the company a “sector outperform” rating in a research note on Wednesday, February 12th.

Travere Therapeutics Stock Down 6.8 %

NASDAQ:TVTX opened at $21.98 on Tuesday. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of -5.36 and a beta of 0.72. Travere Therapeutics has a one year low of $5.12 and a one year high of $25.29. The stock has a 50-day simple moving average of $19.68 and a 200 day simple moving average of $16.63. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71.

Travere Therapeutics (NASDAQ:TVTX) last posted 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 firm had revenue of $74.79 million during the quarter, compared to analyst estimates of $72.38 million. Travere Therapeutics had a negative return on equity of 1,636.87% and a negative net margin of 137.90%. Sell-side analysts predict that Travere Therapeutics will post -1.4 EPS for the current fiscal year.

Insider Activity

In related 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 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP William E. Rote sold 2,437 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $19.46, for a total value of $47,424.02. Following the sale, the senior vice president now directly owns 83,170 shares in the company, valued at approximately $1,618,488.20. The trade was a 2.85 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 218,425 shares of company stock valued at $4,674,259. Insiders own 3.75% of the company’s stock.

Institutional Investors Weigh In On Travere Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Entropy Technologies LP bought a new stake in Travere Therapeutics during the fourth quarter worth approximately $214,000. Aigen Investment Management LP bought a new stake in Travere Therapeutics during the third quarter worth approximately $170,000. Oppenheimer & Co. Inc. acquired a new position in Travere Therapeutics in the third quarter worth approximately $673,000. FMR LLC grew its position in Travere Therapeutics by 27.5% in the third quarter. FMR LLC now owns 147,416 shares of the company’s stock worth $2,062,000 after buying an additional 31,772 shares during the last quarter. Finally, Two Sigma Advisers LP grew its position in Travere Therapeutics by 30.2% in the third quarter. Two Sigma Advisers LP now owns 720,400 shares of the company’s stock worth $10,078,000 after buying an additional 167,100 shares during the last quarter.

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.