Bank of America Cuts Travere Therapeutics (NASDAQ:TVTX) Price Target to $18.00

Travere Therapeutics (NASDAQ:TVTX) had its target price lowered by Bank of America from $19.00 to $18.00 in a report published on Friday, Benzinga reports. Bank of America currently has a buy rating on the stock.

A number of other equities analysts have also commented on TVTX. Barclays raised their target price on shares of Travere Therapeutics from $12.00 to $14.00 and gave the stock an overweight rating in a research report on Friday, August 2nd. Canaccord Genuity Group raised their target price on shares of Travere Therapeutics from $18.00 to $23.00 and gave the stock a buy rating in a research report on Tuesday, September 10th. Wedbush raised their target price on shares of Travere Therapeutics from $13.00 to $16.00 and gave the stock an outperform rating in a research report on Friday, August 2nd. Guggenheim upgraded shares of Travere Therapeutics from a neutral rating to a buy rating and set a $25.00 price objective on the stock in a research note on Monday, September 9th. Finally, JPMorgan Chase & Co. increased their price objective 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. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $16.73.

Travere Therapeutics Stock Down 0.1 %

Shares of NASDAQ:TVTX opened at $13.99 on Friday. The company has a current ratio of 3.04, a quick ratio of 2.99 and a debt-to-equity ratio of 24.96. Travere Therapeutics has a 12 month low of $5.12 and a 12 month high of $15.36. The company has a market cap of $1.07 billion, a price-to-earnings ratio of -6.66 and a beta of 0.71. The company has a 50-day moving average price of $10.74 and a 200 day moving average price of $8.49.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.03). Travere Therapeutics had a negative return on equity of 269.18% and a negative net margin of 82.14%. The firm had revenue of $54.12 million during the quarter, compared to analysts’ expectations of $49.50 million. As a group, equities research analysts predict that Travere Therapeutics will post -3.95 earnings per share for the current year.

Insider Buying and Selling at Travere Therapeutics

In other Travere Therapeutics news, SVP William E. Rote sold 4,387 shares of the firm’s 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 directly owns 84,455 shares in the company, valued at $972,921.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, SVP William E. Rote sold 4,387 shares of Travere Therapeutics stock in a transaction on Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $50,538.24. Following the completion of the sale, the senior vice president now directly owns 84,455 shares in the company, valued at $972,921.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Eric M. Dube sold 21,125 shares of Travere Therapeutics 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 sale, the chief executive officer now owns 361,975 shares of the company’s stock, valued at $4,169,952. The disclosure for this sale can be found here. Insiders sold a total of 70,707 shares of company stock worth $915,112 over the last three months. Corporate insiders own 3.75% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. EntryPoint Capital LLC purchased a new position in Travere Therapeutics in the first quarter valued at $32,000. DRW Securities LLC purchased a new position in Travere Therapeutics in the second quarter valued at $95,000. Forefront Analytics LLC increased its holdings 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 buying an additional 1,237 shares in the last quarter. Sei Investments Co. purchased a new position in Travere Therapeutics in the second quarter valued at $117,000. Finally, Quest Partners LLC increased its holdings in Travere Therapeutics by 240.6% in the second quarter. Quest Partners LLC now owns 14,336 shares of the company’s stock valued at $118,000 after buying an additional 10,127 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.