Travere Therapeutics, Inc. (NASDAQ:TVTX) Stock Has Consensus Price Target of $69.50

Travere Therapeutics, Inc. (NASDAQ:TVTX) has received a consensus rating of “Moderate Buy” from the twelve brokerages that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $69.50.

A number of research analysts have commented on the stock. Piper Sandler restated an “overweight” rating on shares of Travere Therapeutics in a research note on Monday, August 17th. Guggenheim lifted their price objective on Travere Therapeutics from $75.00 to $89.00 and gave the company a “buy” rating in a report on Thursday, September 24th. TD Cowen upped their price objective on Travere Therapeutics from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Canaccord Genuity Group increased their target price on Travere Therapeutics from $62.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, Citigroup raised their target price on Travere Therapeutics from $70.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th.

Travere Therapeutics Trading Down 0.4%

Shares of Travere Therapeutics stock opened at $51.80 on Friday. The firm has a market capitalization of $4.88 billion, a PE ratio of -112.61 and a beta of 1.13. The company has a debt-to-equity ratio of 24.58, a current ratio of 4.05 and a quick ratio of 3.99. The company’s fifty day moving average price is $62.07 and its two-hundred day moving average price is $52.26. Travere Therapeutics has a 52-week low of $22.59 and a 52-week high of $68.73.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.03. Travere Therapeutics had a negative net margin of 7.35% and a negative return on equity of 55.15%. The company had revenue of $169.58 million during the quarter, compared to analysts’ expectations of $157.27 million. During the same quarter in the prior year, the company posted $0.13 EPS. The business’s revenue was up 48.2% on a year-over-year basis. On average, analysts expect that Travere Therapeutics will post -0.54 EPS for the current year.

Insiders Place Their Bets

In other Travere Therapeutics news, insider William Rote sold 112,850 shares of the company’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $63.33, for a total value of $7,146,790.50. Following the sale, the insider directly owned 98,197 shares in the company, valued at $6,218,816.01. This represents a 53.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jula Inrig sold 44,674 shares of the company’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $62.34, for a total value of $2,784,977.16. Following the completion of the sale, the executive vice president owned 100,491 shares in the company, valued at $6,264,608.94. This trade represents a 30.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,050,294 shares of company stock worth $66,336,443 over the last quarter. Corporate insiders own 4.44% of the company’s stock.

Institutional Investors Weigh In On Travere Therapeutics

Several large investors have recently made changes to their positions in TVTX. S&CO Inc. bought a new stake in Travere Therapeutics during the 2nd quarter worth approximately $3,181,000. Artia Global Partners LP bought a new position in Travere Therapeutics in the 2nd quarter valued at $19,260,000. Bank of America Corp DE bought a new position in Travere Therapeutics in the 2nd quarter valued at $259,527,000. Elmind Capital LP bought a new position in Travere Therapeutics in the 2nd quarter valued at $16,622,606. Finally, Quantinno Capital Management LP raised its position in Travere Therapeutics by 354.4% in the 1st quarter. Quantinno Capital Management LP now owns 68,317 shares of the company’s stock valued at $2,030,000 after purchasing an additional 53,283 shares during the last quarter.

Travere Therapeutics Company Profile

Travere Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare kidney and immune-mediated diseases. The company’s work centers on conditions with limited treatment options, including IgA nephropathy (IgAN) and focal segmental glomerulosclerosis (FSGS).

Travere’s lead commercial product is FILSPARI (sparsentan), an oral treatment approved in the United States for certain adults with primary IgAN who are at risk of disease progression.