Travere Therapeutics (NASDAQ:TVTX) Price Target Increased to $25.00 by Analysts at Wedbush

Travere Therapeutics (NASDAQ:TVTX) had its target price hoisted by Wedbush from $17.00 to $25.00 in a research note issued to investors on Wednesday, Benzinga reports. Wedbush currently has an outperform rating on the stock.

Other equities analysts have also issued research reports about the company. Guggenheim cut their price target on Travere Therapeutics from $25.00 to $23.00 and set a buy rating for the company in a research note on Friday, September 27th. Leerink Partners reaffirmed an outperform rating and set a $20.00 target price on shares of Travere Therapeutics in a research note on Tuesday. JPMorgan Chase & Co. lifted their price target on shares of Travere Therapeutics from $20.00 to $23.00 and gave the company an overweight rating in a research note on Friday, September 13th. HC Wainwright reduced their price objective on shares of Travere Therapeutics from $23.00 to $18.00 and set a buy rating for the company in a research report on Friday, September 27th. Finally, Citigroup decreased their price objective on shares of Travere Therapeutics from $23.00 to $19.00 and set a buy rating on the stock in a report on Friday, September 27th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $19.75.

Travere Therapeutics Stock Performance

Travere Therapeutics stock opened at $17.59 on Wednesday. Travere Therapeutics has a 12 month low of $5.12 and a 12 month high of $17.77. The stock’s 50 day simple moving average is $11.47 and its two-hundred day simple moving average is $8.85. 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 (NASDAQ:TVTX) last released its quarterly earnings results 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 net margin of 82.14% and a negative return on equity of 269.18%. The firm had revenue of $54.12 million for the quarter, compared to analyst estimates of $49.50 million. On average, equities analysts expect that Travere Therapeutics will post -3.95 earnings per share for the current year.

Insider Buying and Selling at Travere Therapeutics

In related news, Director Jeffrey A. Meckler sold 40,000 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $14.06, for a total value of $562,400.00. Following the completion of the sale, the director now owns 81,000 shares of the company’s stock, valued at approximately $1,138,860. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Jeffrey A. Meckler sold 40,000 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $14.06, for a total value of $562,400.00. Following the completion of the sale, the director now owns 81,000 shares of the company’s stock, valued at approximately $1,138,860. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 sale, the chief executive officer now owns 361,975 shares of the company’s stock, valued at approximately $4,169,952. 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 quarter, insiders sold 110,707 shares of company stock worth $1,504,312. Insiders own 3.75% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. CWM LLC lifted its position in Travere Therapeutics by 158.5% in the third quarter. CWM LLC now owns 4,999 shares of the company’s stock valued at $70,000 after buying an additional 3,065 shares during the last quarter. Diversified Trust Co acquired a new position in shares of Travere Therapeutics in the 3rd quarter worth approximately $161,000. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Travere Therapeutics by 203.0% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 615,000 shares of the company’s stock worth $5,055,000 after purchasing an additional 412,000 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Travere Therapeutics in the 2nd quarter valued at approximately $291,000. Finally, Forefront Analytics LLC raised its position in Travere Therapeutics by 10.2% in the second quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock valued at $109,000 after purchasing an additional 1,237 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.