Travere Therapeutics (NASDAQ:TVTX) Given New $41.00 Price Target at Guggenheim

Travere Therapeutics (NASDAQ:TVTX) had its price objective increased by Guggenheim from $23.00 to $41.00 in a research note published on Wednesday morning, Benzinga reports. Guggenheim currently has a buy rating on the stock.

Several other equities analysts also recently issued reports on the stock. Canaccord Genuity Group reduced their price objective on shares of Travere Therapeutics from $23.00 to $22.00 and set a buy rating on the stock in a research note on Monday, September 30th. Citigroup reduced their price target on Travere Therapeutics from $23.00 to $19.00 and set a buy rating on the stock in a research note on Friday, September 27th. Wedbush lifted their price objective on Travere Therapeutics from $17.00 to $25.00 and gave the company an outperform rating in a research report on Wednesday. Barclays upped their target price on Travere Therapeutics from $14.00 to $18.00 and gave the company an overweight rating in a research note on Tuesday, October 1st. Finally, HC Wainwright decreased their price target on Travere Therapeutics from $23.00 to $18.00 and set a buy rating on the stock in a research note on Friday, September 27th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $19.75.

Travere Therapeutics Stock Performance

Shares of NASDAQ:TVTX opened at $17.59 on Wednesday. The company has a current ratio of 3.04, a quick ratio of 2.99 and a debt-to-equity ratio of 24.96. The business’s fifty day moving average price is $11.47 and its two-hundred day moving average price is $8.85. Travere Therapeutics has a one year low of $5.12 and a one year high of $17.77.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $54.12 million for the quarter, compared to analyst estimates of $49.50 million. Sell-side analysts forecast that Travere Therapeutics will post -3.95 EPS for the current fiscal year.

Insider Buying and Selling at Travere Therapeutics

In other news, CEO Eric M. Dube sold 21,125 shares of the firm’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 $243,360.00. Following the transaction, the chief executive officer now owns 361,975 shares of the company’s stock, valued at approximately $4,169,952. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Travere Therapeutics news, 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 value of $50,538.24. Following the completion of the sale, the senior vice president now owns 84,455 shares of the company’s stock, valued at $972,921.60. This trade represents 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 available through the SEC website. Also, CEO Eric M. Dube sold 21,125 shares of the business’s stock in a transaction on 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 in the company, 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. Insiders have sold a total of 110,707 shares of company stock valued at $1,504,312 over the last ninety days. Corporate insiders own 3.75% of the company’s stock.

Institutional Investors Weigh In On Travere Therapeutics

Large investors have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. boosted its position in Travere Therapeutics by 912.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 2,214,099 shares of the company’s stock valued at $18,200,000 after buying an additional 1,995,419 shares during the last quarter. Vanguard Group Inc. grew its stake in Travere Therapeutics by 13.6% during the 1st quarter. Vanguard Group Inc. now owns 6,265,829 shares of the company’s stock valued at $48,310,000 after purchasing an additional 750,686 shares in the last quarter. Millennium Management LLC grew its stake in Travere Therapeutics by 33.9% during the 2nd 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 in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Travere Therapeutics during the 4th quarter worth approximately $5,711,000. Finally, Parkman Healthcare Partners LLC raised its position in shares of Travere Therapeutics by 76.4% in the 4th quarter. Parkman Healthcare Partners LLC now owns 1,018,812 shares of the company’s stock valued at $9,159,000 after purchasing an additional 441,318 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.