Travere Therapeutics (NASDAQ:TVTX) Given New $75.00 Price Target at TD Cowen

Travere Therapeutics (NASDAQ:TVTX) had its price objective boosted by equities research analysts at TD Cowen from $60.00 to $75.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s price target points to a potential upside of 19.95% from the stock’s current price.

A number of other research firms have also weighed in on TVTX. Weiss Ratings lowered Travere Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 23rd. Wells Fargo & Company upped their price objective on Travere Therapeutics from $50.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, June 12th. Citigroup raised their price objective on Travere Therapeutics from $70.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday. Evercore reiterated an “outperform” rating on shares of Travere Therapeutics in a research note on Wednesday. Finally, Piper Sandler upgraded shares of Travere Therapeutics from a “neutral” rating to an “overweight” rating and set a $49.00 target price for the company in a report on Tuesday, April 14th. Eleven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $55.92.

Travere Therapeutics Trading Up 11.6%

Shares of NASDAQ TVTX traded up $6.51 during trading hours on Wednesday, reaching $62.53. The stock had a trading volume of 4,444,029 shares, compared to its average volume of 2,124,614. Travere Therapeutics has a 52-week low of $15.60 and a 52-week high of $66.24. The firm has a market cap of $5.81 billion, a price-to-earnings ratio of -269.69 and a beta of 1.12. The business’s fifty day moving average price is $54.00 and its two-hundred day moving average price is $40.65. The company has a current ratio of 3.13, a quick ratio of 3.08 and a debt-to-equity ratio of 3.16.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.29. Travere Therapeutics had a negative return on equity of 26.16% and a negative net margin of 4.00%.The business had revenue of $127.20 million for the quarter, compared to the consensus estimate of $136.23 million. The business’s revenue was up 55.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.47) EPS. Analysts expect that Travere Therapeutics will post -0.56 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Timothy Coughlin sold 10,000 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $50.07, for a total transaction of $500,700.00. Following the transaction, the director directly owned 56,250 shares in the company, valued at $2,816,437.50. The trade was a 15.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Roy D. Baynes sold 4,500 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $50.00, for a total value of $225,000.00. Following the transaction, the director owned 41,500 shares in the company, valued at approximately $2,075,000. This trade represents a 9.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 4.44% of the company’s stock.

Institutional Investors Weigh In On Travere Therapeutics

Several institutional investors have recently added to or reduced their stakes in TVTX. GAMMA Investing LLC increased its holdings in shares of Travere Therapeutics by 53.4% during the second quarter. GAMMA Investing LLC now owns 606 shares of the company’s stock valued at $34,000 after acquiring an additional 211 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in Travere Therapeutics by 69.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the company’s stock worth $45,000 after purchasing an additional 487 shares in the last quarter. Comerica Bank boosted its stake in Travere Therapeutics by 77.5% in the 4th quarter. Comerica Bank now owns 1,127 shares of the company’s stock worth $43,000 after purchasing an additional 492 shares in the last quarter. ProShare Advisors LLC grew its position in Travere Therapeutics by 4.1% during the 4th quarter. ProShare Advisors LLC now owns 19,007 shares of the company’s stock worth $726,000 after purchasing an additional 756 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Travere Therapeutics by 26.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,348 shares of the company’s stock valued at $166,000 after purchasing an additional 902 shares in the last quarter.

Travere Therapeutics Company Profile

Travere Therapeutics, Inc (NASDAQ: TVTX) is a biopharmaceutical company headquartered in San Diego, California, dedicated to the development and commercialization of therapies for rare kidney and genetic disorders. The company’s mission is to address unmet needs in conditions with limited treatment options by focusing on diseases that affect small patient populations. Travere combines research, development and commercial capabilities to bring innovative medicines to market.

The company’s lead product is sparsentan, a dual endothelin angiotensin receptor antagonist that has received accelerated approval from the U.S.