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

Travere Therapeutics (NASDAQ:TVTX) had its target price hoisted by Piper Sandler from $12.00 to $22.00 in a research note issued to investors on Thursday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Other equities research analysts also recently issued reports about the stock. Guggenheim lifted their target price on shares of Travere Therapeutics from $23.00 to $41.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Bank of America boosted their price target on shares of Travere Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Wells Fargo & Company upgraded shares of Travere Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $9.00 to $27.00 in a research note on Monday, October 21st. Citigroup reduced their target price on shares of Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, September 27th. Finally, Scotiabank upped their target price on shares of Travere Therapeutics from $23.00 to $27.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Travere Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $22.62.

Travere Therapeutics Trading Down 4.1 %

Shares of Travere Therapeutics stock opened at $17.72 on Thursday. The firm has a market capitalization of $1.38 billion, a PE ratio of -3.89 and a beta of 0.70. 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 firm’s 50 day moving average is $16.27 and its 200 day moving average is $11.04. Travere Therapeutics has a 1 year low of $5.12 and a 1 year high of $20.33.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.70) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.71) by $0.01. The company had revenue of $62.90 million for the quarter, compared to analyst estimates of $60.87 million. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 537.74%. The firm’s revenue was up 69.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.17) EPS. Equities research analysts forecast that Travere Therapeutics will post -3.93 earnings per share for the current fiscal year.

Insider Buying and Selling at Travere Therapeutics

In other Travere Therapeutics news, CEO Eric M. Dube sold 21,125 shares of the firm’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 completion of 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 5.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gary A. Lyons sold 40,000 shares of the firm’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $14.73, for a total value of $589,200.00. Following the transaction, the director now directly owns 51,000 shares of the company’s stock, valued at $751,230. This represents a 43.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 110,707 shares of company stock worth $1,504,312 over the last ninety days. Insiders own 3.75% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its holdings in Travere Therapeutics by 3.9% in the 3rd 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 in the last quarter. Two Sigma Advisers LP increased its stake in Travere Therapeutics by 30.2% in the 3rd quarter. Two Sigma Advisers LP now owns 720,400 shares of the company’s stock worth $10,078,000 after acquiring an additional 167,100 shares during the last quarter. Quarry LP bought a new stake in Travere Therapeutics in the 3rd quarter worth approximately $105,000. Parkman Healthcare Partners LLC increased its stake in Travere Therapeutics by 12.0% in the 3rd quarter. Parkman Healthcare Partners LLC now owns 1,086,067 shares of the company’s stock worth $15,194,000 after acquiring an additional 116,175 shares during the last quarter. Finally, Bellevue Group AG bought a new stake in Travere Therapeutics in the 3rd quarter worth approximately $434,000.

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.