Travere Therapeutics (NASDAQ:TVTX) Given New $67.00 Price Target at Leerink Partners

Travere Therapeutics (NASDAQ:TVTX) had its price objective decreased by Leerink Partners from $78.00 to $67.00 in a report issued on Thursday morning,Benzinga reports. Leerink Partners currently has an outperform rating on the stock.

Several other research analysts also recently commented on TVTX. Evercore set a $78.00 price objective on shares of Travere Therapeutics in a report on Monday, August 10th. TD Cowen lifted their price target on Travere Therapeutics from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Piper Sandler reissued an “overweight” rating on shares of Travere Therapeutics in a research note on Monday, August 17th. Wedbush restated an “outperform” rating and set a $76.00 price objective on shares of Travere Therapeutics in a research report on Tuesday, September 22nd. Finally, Citigroup raised their price objective on Travere Therapeutics from $70.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Eleven analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $68.45.

Travere Therapeutics Stock Performance

NASDAQ TVTX opened at $48.87 on Thursday. The firm has a market cap of $4.69 billion, a price-to-earnings ratio of -37.88 and a beta of 1.11. The company has a quick ratio of 3.99, a current ratio of 3.00 and a debt-to-equity ratio of 26.72. The business has a 50-day moving average price of $57.76 and a 200-day moving average price of $46.89. Travere Therapeutics has a twelve month low of $22.59 and a twelve month high of $68.73.

Travere Therapeutics (NASDAQ:TVTX) last released its earnings results 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 business had revenue of $224.56 million for the quarter, compared to analysts’ expectations of $195.29 million. Travere Therapeutics had a negative return on equity of 185.69% and a negative net margin of 18.66%. The business’s revenue for the quarter was up 36.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.28 EPS. As a group, equities research analysts predict that Travere Therapeutics will post -0.87 EPS for the current fiscal year.

Insider Activity

In other Travere Therapeutics news, CFO Christopher R. Cline sold 50,508 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $62.34, for a total value of $3,148,668.72. Following the completion of the sale, the chief financial officer owned 87,508 shares of the company’s stock, valued at $5,455,248.72. This trade represents a 36.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Eric M. Dube sold 243,735 shares of the firm’s stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $53.82, for a total transaction of $13,117,817.70. Following the completion of the sale, the chief executive officer directly owned 432,886 shares of the company’s stock, valued at approximately $23,297,924.52. The trade was a 36.02% decrease in their position. 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 sold 1,294,029 shares of company stock worth $79,454,261 in the last 90 days. Company insiders own 4.44% of the company’s stock.

Institutional Investors Weigh In On Travere Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the business. S&CO Inc. purchased a new stake in shares of Travere Therapeutics during the second quarter valued at $3,181,000. Artia Global Partners LP bought a new position in shares of Travere Therapeutics in the second quarter worth about $19,260,000. Elmind Capital LP purchased a new position in Travere Therapeutics in the 2nd quarter worth about $16,622,606. Bank of America Corp DE purchased a new position in Travere Therapeutics in the 2nd quarter worth about $259,527,000. Finally, Jupiter Topco LLC bought a new stake in Travere Therapeutics during the 2nd quarter valued at about $643,299,000.

Travere Therapeutics News Summary

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

• Positive Sentiment: HC Wainwright raised its earnings forecasts for 2027–2030, including lifting its 2030 EPS estimate to $6.84 from $5.73, and maintained a Buy rating with a $67 price target. MarketBeat Travere Therapeutics coverage
• Positive Sentiment: Canaccord Genuity raised its price target to $72 from $70 and reiterated Buy, signaling continued confidence in the stock’s prospects. Canaccord Genuity recommendations
• Neutral Sentiment: Analyst views were mixed: Leerink Partners cut its target to $67 from $78 but retained an Outperform rating; Guggenheim also lowered its target, to $78 from $89, while keeping Buy. Leerink Partners recommendations
• Negative Sentiment: The main near-term pressure was the latest quarterly report: Travere posted a loss of $0.55 per share, substantially worse than the $0.06 loss analysts expected. Revenue rose 36.2% year over year to $224.56 million and topped estimates, but the earnings miss likely weighed more heavily on sentiment. Travere 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.