Travere Therapeutics (NASDAQ:TVTX) Price Target Raised to $72.00

Travere Therapeutics (NASDAQ:TVTX) had its price target lifted by Canaccord Genuity Group from $70.00 to $72.00 in a research report report published on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities analysts have also recently issued research reports about the company. Citigroup raised their price target on Travere Therapeutics from $70.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. HC Wainwright reissued a “buy” rating and set a $67.00 price objective on shares of Travere Therapeutics in a report on Tuesday, September 22nd. Zacks Research downgraded shares of Travere Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 20th. Wedbush restated an “outperform” rating and set a $76.00 target price on shares of Travere Therapeutics in a research report on Tuesday, September 22nd. Finally, Evercore set a $78.00 price target on shares of Travere Therapeutics in a research note on Monday, August 10th. Eleven investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Travere Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $68.45.

Travere Therapeutics Trading Up 1.5%

TVTX stock traded up $0.73 during trading on Wednesday, hitting $49.60. The company had a trading volume of 1,006,200 shares, compared to its average volume of 2,096,064. The company has a quick ratio of 3.99, a current ratio of 4.05 and a debt-to-equity ratio of 24.58. The firm has a 50-day moving average price of $57.40 and a 200-day moving average price of $47.00. Travere Therapeutics has a 12 month low of $22.59 and a 12 month high of $68.73. The stock has a market cap of $4.68 billion, a price-to-earnings ratio of -38.45 and a beta of 1.11.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings data on Monday, November 2nd. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.49). The firm had revenue of $224.56 million for the quarter, compared to analyst estimates of $195.29 million. Travere Therapeutics had a negative return on equity of 152.48% and a negative net margin of 18.66%. The firm’s quarterly revenue was up 36.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.28 EPS. As a group, analysts predict that Travere Therapeutics will post -0.87 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Jula Inrig sold 44,674 shares of the company’s stock in a transaction dated Tuesday, September 15th. The stock was 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 directly owned 100,491 shares of the company’s stock, valued at $6,264,608.94. This represents a 30.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider William E. Rote sold 112,850 shares of the stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $63.33, for a total transaction of $7,146,790.50. Following the completion of the sale, the insider 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. 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. Insiders have sold a total of 1,294,029 shares of company stock valued at $79,454,261 in the last ninety days. 4.44% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Jupiter Topco LLC bought a new stake in Travere Therapeutics in the second quarter valued at approximately $643,299,000. Bank of America Corp DE acquired a new stake in Travere Therapeutics during the 2nd quarter worth approximately $259,527,000. Wellington Management Group LLP lifted its stake in Travere Therapeutics by 50.0% in the second quarter. Wellington Management Group LLP now owns 1,533,080 shares of the company’s stock valued at $87,094,000 after buying an additional 510,808 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Travere Therapeutics by 168.1% in the third quarter. Assenagon Asset Management S.A. now owns 1,145,414 shares of the company’s stock valued at $67,442,000 after buying an additional 718,109 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Travere Therapeutics by 96.6% in the third quarter. Russell Investments Group Ltd. now owns 778,340 shares of the company’s stock valued at $45,829,000 after buying an additional 382,371 shares during the period.

Key Headlines Impacting Travere Therapeutics

Here are the key news stories impacting Travere Therapeutics this week:

• Positive Sentiment: Canaccord Genuity raised its price target to $72 from $70 and maintained a Buy rating, signaling continued confidence in the shares. Article: Travere Therapeutics Stock Gets Price Target Increase from Canaccord Genuity Group
• Positive Sentiment: HC Wainwright kept its Buy rating and $67 target while raising its earnings forecasts for 2027–2030, including its 2030 EPS estimate to $6.84 from $5.73. The revisions point to stronger expected longer-term earnings.
• Neutral Sentiment: Analyst actions were mixed: Leerink Partners cut its target to $67 from $78 but retained an Outperform rating, while Guggenheim also lowered its target; the report provided no revised figure. Article: Travere Therapeutics Stock Price Target Cut by Guggenheim
• Negative Sentiment: Travere’s latest quarterly results missed sharply on earnings: EPS was a loss of $0.55 versus the expected loss of $0.06. Revenue beat estimates at $224.56 million and rose 36.2% year over year, but the earnings shortfall contributed to reports of a post-results share-price gap down. Article: Travere Therapeutics Shares Gap Down After Earnings Miss

Travere Therapeutics Company Profile

Travere Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare diseases, with an emphasis on serious kidney conditions. The company’s work centers on addressing diseases with limited treatment options and improving outcomes for patients with progressive renal disorders.

Travere’s lead commercial product is FILSPARI (sparsentan), an oral treatment for adults with primary immunoglobulin A nephropathy (IgA nephropathy) who are at risk of disease progression.