Canaccord Genuity Group Increases Travere Therapeutics (NASDAQ:TVTX) Price Target to $23.00

Travere Therapeutics (NASDAQ:TVTX) had its price target raised by research analysts at Canaccord Genuity Group from $18.00 to $23.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 87.91% from the company’s previous close.

TVTX has been the subject of several other reports. Bank of America raised their price objective on shares of Travere Therapeutics from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Piper Sandler lifted their price target on Travere Therapeutics from $11.00 to $12.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Barclays boosted their price objective on Travere Therapeutics from $12.00 to $14.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. HC Wainwright raised their target price on Travere Therapeutics from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Finally, Citigroup upped their price target on Travere Therapeutics from $14.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.33.

Travere Therapeutics Stock Down 4.7 %

Shares of TVTX opened at $12.24 on Tuesday. The company has a debt-to-equity ratio of 24.96, a quick ratio of 2.99 and a current ratio of 3.04. Travere Therapeutics has a 1 year low of $5.12 and a 1 year high of $14.07. The stock’s fifty day moving average price is $9.48 and its two-hundred day moving average price is $7.92.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.03). The firm had revenue of $54.12 million during the quarter, compared to the consensus estimate of $49.50 million. Travere Therapeutics had a negative net margin of 82.14% and a negative return on equity of 269.18%. As a group, equities research analysts anticipate that Travere Therapeutics will post -3.96 earnings per share for the current year.

Insider Activity at Travere Therapeutics

In other Travere Therapeutics news, CEO Eric M. Dube sold 21,125 shares of the company’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 $243,360.00. Following the completion of the sale, the chief executive officer now owns 361,975 shares of the company’s stock, valued at $4,169,952. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Eric M. Dube sold 21,125 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $243,360.00. Following the transaction, the chief executive officer now directly owns 361,975 shares of the company’s stock, valued at $4,169,952. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP William E. Rote sold 4,387 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $50,538.24. Following the completion of the sale, the senior vice president now directly owns 84,455 shares of the company’s stock, valued at approximately $972,921.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,707 shares of company stock valued at $352,712. Corporate insiders own 3.75% of the company’s stock.

Institutional Investors Weigh In On Travere Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TVTX. EntryPoint Capital LLC purchased a new position in shares of Travere Therapeutics in the first quarter valued at about $32,000. DRW Securities LLC purchased a new stake in Travere Therapeutics in the 2nd quarter worth approximately $95,000. Forefront Analytics LLC grew its position in shares of Travere Therapeutics by 10.2% in the 2nd quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock worth $109,000 after buying an additional 1,237 shares during the last quarter. Sei Investments Co. purchased a new position in shares of Travere Therapeutics during the second quarter valued at approximately $117,000. Finally, Quest Partners LLC raised its holdings in shares of Travere Therapeutics by 240.6% during the second quarter. Quest Partners LLC now owns 14,336 shares of the company’s stock valued at $118,000 after acquiring an additional 10,127 shares in the last quarter.

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.