Travere Therapeutics (NASDAQ:TVTX) Stock Price Expected to Rise, Scotiabank Analyst Says

Travere Therapeutics (NASDAQ:TVTX) had its price target boosted by Scotiabank from $27.00 to $32.00 in a report published on Wednesday,Benzinga reports. They currently have a sector outperform rating on the stock.

Other research analysts have also recently issued reports about the stock. Piper Sandler lifted their price target on shares of Travere Therapeutics from $12.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. HC Wainwright raised their target price on shares of Travere Therapeutics from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Wells Fargo & Company raised Travere Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $9.00 to $27.00 in a research report on Monday, October 21st. Cantor Fitzgerald assumed coverage on Travere Therapeutics in a research report on Friday, January 10th. They set an “overweight” rating for the company. Finally, Evercore ISI lifted their price objective on Travere Therapeutics from $33.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $27.77.

Travere Therapeutics Stock Performance

TVTX opened at $23.20 on Wednesday. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. The stock has a fifty day simple moving average of $19.06 and a two-hundred day simple moving average of $15.95. Travere Therapeutics has a 12-month low of $5.12 and a 12-month high of $25.29.

Insider Activity

In other Travere Therapeutics news, CAO Sandra Calvin sold 12,090 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $18.30, for a total value of $221,247.00. Following the completion of the transaction, the chief accounting officer now owns 54,927 shares of the company’s stock, valued at approximately $1,005,164.10. The trade was a 18.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP William E. Rote sold 2,437 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $19.46, for a total transaction of $47,424.02. Following the transaction, the senior vice president now owns 83,170 shares in the company, valued at $1,618,488.20. This represents a 2.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 218,425 shares of company stock valued at $4,674,259 over the last ninety days. 3.75% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Travere Therapeutics

Large investors have recently added to or reduced their stakes in the stock. Aigen Investment Management LP bought a new position in shares of Travere Therapeutics during the 3rd quarter valued at $170,000. Oppenheimer & Co. Inc. bought a new stake in shares of Travere Therapeutics in the third quarter worth $673,000. FMR LLC increased its position in Travere Therapeutics by 27.5% during the third quarter. FMR LLC now owns 147,416 shares of the company’s stock valued at $2,062,000 after acquiring an additional 31,772 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in Travere Therapeutics by 30.2% in the third quarter. Two Sigma Advisers LP now owns 720,400 shares of the company’s stock valued at $10,078,000 after acquiring an additional 167,100 shares during the period. Finally, Geode Capital Management LLC boosted its position in Travere Therapeutics by 3.9% in the third quarter. Geode Capital Management LLC now owns 1,731,045 shares of the company’s stock worth $24,222,000 after purchasing an additional 64,744 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.