Travere Therapeutics (NASDAQ:TVTX) Rating Increased to Overweight at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Travere Therapeutics (NASDAQ:TVTX) from an equal weight rating to an overweight rating in a research note released on Monday, Marketbeat Ratings reports. Wells Fargo & Company currently has $27.00 price objective on the stock, up from their prior price objective of $9.00.

Other equities analysts have also issued reports about the company. Piper Sandler increased their price objective on Travere Therapeutics from $11.00 to $12.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Canaccord Genuity Group cut their price target on Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Wedbush boosted their price objective on Travere Therapeutics from $17.00 to $25.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. Bank of America upped their price objective on shares of Travere Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Scotiabank initiated coverage on shares of Travere Therapeutics in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $23.00 target price for the company. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $21.38.

Travere Therapeutics Stock Up 1.3 %

Shares of Travere Therapeutics stock opened at $18.10 on Monday. The stock has a fifty day moving average price of $12.71 and a 200-day moving average price of $9.35. The company has a quick ratio of 2.99, a current ratio of 3.04 and a debt-to-equity ratio of 24.96. Travere Therapeutics has a 1 year low of $5.12 and a 1 year high of $19.25.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.03). Travere Therapeutics had a negative return on equity of 269.18% and a negative net margin of 82.14%. The company had revenue of $54.12 million during the quarter, compared to the consensus estimate of $49.50 million. On average, analysts anticipate that Travere Therapeutics will post -3.95 earnings per share for the current year.

Insider Activity

In related news, CFO Christopher R. Cline sold 2,490 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $28,684.80. Following the completion of the transaction, the chief financial officer now directly owns 74,595 shares in the company, valued at approximately $859,334.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Christopher R. Cline sold 2,490 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $11.52, for a total value of $28,684.80. Following the completion of the sale, the chief financial officer now owns 74,595 shares in the company, valued at $859,334.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP William E. Rote sold 4,387 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $50,538.24. Following the transaction, the senior vice president now owns 84,455 shares in the company, valued at $972,921.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 110,707 shares of company stock worth $1,504,312. 3.75% of the stock is currently owned by insiders.

Institutional Trading of Travere Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. increased its holdings in shares of Travere Therapeutics by 912.5% in the second quarter. Assenagon Asset Management S.A. now owns 2,214,099 shares of the company’s stock worth $18,200,000 after buying an additional 1,995,419 shares during the period. Russell Investments Group Ltd. grew its position in Travere Therapeutics by 79.2% during the 1st quarter. Russell Investments Group Ltd. now owns 184,623 shares of the company’s stock worth $1,423,000 after acquiring an additional 81,611 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Travere Therapeutics in the 1st quarter worth approximately $452,000. Acadian Asset Management LLC lifted its position in Travere Therapeutics by 202.6% in the second quarter. Acadian Asset Management LLC now owns 144,901 shares of the company’s stock valued at $1,190,000 after purchasing an additional 97,020 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Travere Therapeutics by 33.9% during the second quarter. Millennium Management LLC now owns 2,949,335 shares of the company’s stock valued at $24,244,000 after purchasing an additional 747,406 shares during the period.

Travere Therapeutics Company Profile

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.