Barclays Raises Travere Therapeutics (NASDAQ:TVTX) Price Target to $18.00

Travere Therapeutics (NASDAQ:TVTX) had its price target raised by Barclays from $14.00 to $18.00 in a research report sent to investors on Tuesday morning, Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other brokerages have also issued reports on TVTX. Piper Sandler lifted their price target on shares of Travere Therapeutics from $11.00 to $12.00 and gave the company a neutral rating in a report on Friday, August 2nd. Wedbush boosted their target price on shares of Travere Therapeutics from $13.00 to $16.00 and gave the stock an outperform rating in a research note on Friday, August 2nd. Canaccord Genuity Group lowered their price target on shares of Travere Therapeutics from $23.00 to $22.00 and set a buy rating for the company in a report on Monday. Guggenheim cut their price objective on Travere Therapeutics from $25.00 to $23.00 and set a buy rating on the stock in a report on Friday, September 27th. Finally, Bank of America lowered their target price on Travere Therapeutics from $19.00 to $18.00 and set a buy rating for the company in a report on Friday, September 27th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $17.09.

Travere Therapeutics Price Performance

Shares of NASDAQ TVTX opened at $13.65 on Tuesday. The business has a fifty day moving average price of $10.91 and a two-hundred day moving average price of $8.58. The stock has a market capitalization of $1.04 billion, a PE ratio of -6.44 and a beta of 0.73. The company has a debt-to-equity ratio of 24.96, a current ratio of 3.04 and a quick ratio of 2.99. Travere Therapeutics has a fifty-two week low of $5.12 and a fifty-two week high of $15.36.

Travere Therapeutics (NASDAQ:TVTX) last released its 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 during the quarter, compared to the consensus estimate of $49.50 million. As a group, equities analysts predict that Travere Therapeutics will post -3.95 earnings per share for the current fiscal year.

Insider Buying and Selling

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 value of $243,360.00. Following the completion of the sale, the chief executive officer now directly owns 361,975 shares in the company, valued at approximately $4,169,952. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Travere Therapeutics news, insider Jula Inrig sold 2,191 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $25,240.32. Following the transaction, the insider now owns 62,633 shares in the company, valued at $721,532.16. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 transaction of $243,360.00. Following the completion of the transaction, the chief executive officer now directly owns 361,975 shares in the company, valued at $4,169,952. The disclosure for this sale can be found here. Insiders have sold a total of 70,707 shares of company stock valued at $915,112 over the last ninety days. 3.75% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Rafferty Asset Management LLC grew its stake in shares of Travere Therapeutics by 18.6% in the 4th quarter. Rafferty Asset Management LLC now owns 429,161 shares of the company’s stock worth $3,858,000 after acquiring an additional 67,168 shares in the last quarter. Sectoral Asset Management Inc. purchased a new stake in Travere Therapeutics in the 4th quarter valued at about $2,469,000. Kynam Capital Management LP lifted its position in shares of Travere Therapeutics by 105.6% during the 4th quarter. Kynam Capital Management LP now owns 2,000,000 shares of the company’s stock worth $17,980,000 after buying an additional 1,027,398 shares in the last quarter. Pennant Investors LP purchased a new position in shares of Travere Therapeutics in the 4th quarter worth approximately $502,000. Finally, Birchview Capital LP grew its holdings in shares of Travere Therapeutics by 48.8% in the fourth quarter. Birchview Capital LP now owns 122,000 shares of the company’s stock valued at $1,097,000 after acquiring an additional 40,000 shares in 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.