Travere Therapeutics (NASDAQ:TVTX) PT Raised to $20.00 at Bank of America

Travere Therapeutics (NASDAQ:TVTX) had its price objective upped by Bank of America from $18.00 to $20.00 in a report issued on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts also recently issued research reports about the stock. Leerink Partners reiterated an outperform rating and set a $20.00 target price on shares of Travere Therapeutics in a research note on Tuesday, October 8th. Canaccord Genuity Group lowered their target price on shares of Travere Therapeutics from $23.00 to $22.00 and set a buy rating for the company in a research note on Monday, September 30th. HC Wainwright lowered their target price on shares of Travere Therapeutics from $23.00 to $18.00 and set a buy rating for the company in a research note on Friday, September 27th. Wedbush boosted their target price on shares of Travere Therapeutics from $17.00 to $25.00 and gave the stock an outperform rating in a research note on Wednesday. Finally, Citigroup lowered 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. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Travere Therapeutics has an average rating of Moderate Buy and an average price target of $19.75.

Travere Therapeutics Stock Performance

NASDAQ:TVTX opened at $16.41 on Wednesday. The company has a fifty day simple moving average of $11.78 and a two-hundred day simple moving average of $8.97. The company has a market cap of $1.26 billion, a price-to-earnings ratio of -8.73 and a beta of 0.73. The company has a quick ratio of 2.99, a current ratio of 3.04 and a debt-to-equity ratio of 24.96. Travere Therapeutics has a 52 week low of $5.12 and a 52 week high of $18.60.

Travere Therapeutics (NASDAQ:TVTX) last posted 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). The business had revenue of $54.12 million during the quarter, compared to analyst estimates of $49.50 million. Travere Therapeutics had a negative return on equity of 269.18% and a negative net margin of 82.14%. As a group, equities analysts anticipate that Travere Therapeutics will post -3.95 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP William E. Rote sold 4,387 shares of the company’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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP William E. Rote sold 4,387 shares of the company’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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gary A. Lyons sold 40,000 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $14.73, for a total transaction of $589,200.00. Following the completion of the sale, the director now directly owns 51,000 shares of the company’s stock, valued at $751,230. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 110,707 shares of company stock valued at $1,504,312. Insiders own 3.75% of the company’s stock.

Institutional Investors Weigh In On Travere Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Travere Therapeutics by 13.6% in the first 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 during the period. Millennium Management LLC lifted its position in Travere Therapeutics by 33.9% in the second 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 during the period. Assenagon Asset Management S.A. lifted its position in Travere Therapeutics by 912.5% in the second quarter. Assenagon Asset Management S.A. now owns 2,214,099 shares of the company’s stock valued at $18,200,000 after purchasing an additional 1,995,419 shares during the period. Parkman Healthcare Partners LLC lifted its position in Travere Therapeutics by 76.4% in the fourth 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 during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Travere Therapeutics in the fourth quarter valued at about $5,711,000.

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.