Travere Therapeutics (NASDAQ:TVTX) Price Target Raised to $18.00

Travere Therapeutics (NASDAQ:TVTX) had its price objective boosted by Canaccord Genuity Group from $15.00 to $18.00 in a research note released on Tuesday, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Several other equities research analysts have also recently weighed in on TVTX. Guggenheim reiterated a neutral rating on shares of Travere Therapeutics in a report on Wednesday, March 27th. Piper Sandler raised their price target on Travere Therapeutics from $10.00 to $11.00 and gave the stock a neutral rating in a research note on Thursday, January 18th. Wells Fargo & Company boosted their price objective on shares of Travere Therapeutics from $8.00 to $9.00 and gave the company an equal weight rating in a research report on Friday, February 16th. Wedbush reissued an outperform rating and issued a $13.00 price target on shares of Travere Therapeutics in a research note on Wednesday, April 17th. Finally, HC Wainwright upped their target price on Travere Therapeutics from $17.00 to $19.00 and gave the stock a buy rating in a report on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Travere Therapeutics has an average rating of Moderate Buy and an average price target of $16.69.

Travere Therapeutics Stock Up 0.9 %

Shares of Travere Therapeutics stock opened at $6.66 on Tuesday. The company’s 50 day moving average price is $6.97 and its 200-day moving average price is $7.59. Travere Therapeutics has a 52-week low of $5.12 and a 52-week high of $19.54. The company has a debt-to-equity ratio of 1.88, a quick ratio of 3.41 and a current ratio of 3.47. The stock has a market capitalization of $506.89 million, a price-to-earnings ratio of -4.10 and a beta of 0.69.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings data on Monday, May 6th. The company reported ($1.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.98) by ($0.78). The firm had revenue of $41.40 million during the quarter, compared to analysts’ expectations of $43.46 million. Travere Therapeutics had a negative net margin of 56.02% and a negative return on equity of 177.97%. Travere Therapeutics’s revenue was up 34.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.27) EPS. Equities research analysts forecast that Travere Therapeutics will post -3.1 EPS for the current year.

Hedge Funds Weigh In On Travere Therapeutics

A number of hedge funds have recently bought and sold shares of TVTX. ProShare Advisors LLC raised its holdings in Travere Therapeutics by 9.2% in the first quarter. ProShare Advisors LLC now owns 18,421 shares of the company’s stock worth $142,000 after buying an additional 1,557 shares during the last quarter. Teacher Retirement System of Texas increased its position in shares of Travere Therapeutics by 9.6% during the third quarter. Teacher Retirement System of Texas now owns 18,804 shares of the company’s stock valued at $168,000 after acquiring an additional 1,641 shares in the last quarter. Arizona State Retirement System raised its holdings in Travere Therapeutics by 9.7% in the 4th quarter. Arizona State Retirement System now owns 20,969 shares of the company’s stock worth $189,000 after acquiring an additional 1,851 shares during the last quarter. Signaturefd LLC lifted its position in Travere Therapeutics by 1,656.4% in the 4th quarter. Signaturefd LLC now owns 3,021 shares of the company’s stock valued at $27,000 after acquiring an additional 2,849 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Travere Therapeutics by 7.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 46,424 shares of the company’s stock valued at $417,000 after purchasing an additional 3,083 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.