Travere Therapeutics, Inc. (NASDAQ:TVTX) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) have been assigned an average recommendation of “Moderate Buy” from the fourteen analysts that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $39.00.

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. dropped their price target on shares of Travere Therapeutics from $44.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, March 25th. Piper Sandler lifted their target price on shares of Travere Therapeutics from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, February 6th. Wall Street Zen cut shares of Travere Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 21st. Guggenheim reissued a “buy” rating and issued a $49.00 price target on shares of Travere Therapeutics in a research note on Wednesday, January 14th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Travere Therapeutics in a research report on Wednesday, January 21st.

Insider Transactions at Travere Therapeutics

In other Travere Therapeutics news, CEO Eric M. Dube sold 100,087 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $32.28, for a total transaction of $3,230,808.36. Following the transaction, the chief executive officer owned 432,886 shares in the company, valued at approximately $13,973,560.08. This trade represents a 18.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Peter Heerma sold 7,310 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $32.12, for a total value of $234,797.20. Following the completion of the sale, the insider directly owned 131,823 shares of the company’s stock, valued at approximately $4,234,154.76. This trade represents a 5.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 234,543 shares of company stock valued at $7,368,175. Corporate insiders own 4.06% of the company’s stock.

Institutional Investors Weigh In On Travere Therapeutics

Several large investors have recently bought and sold shares of TVTX. Emerald Advisers LLC grew its holdings in shares of Travere Therapeutics by 2.6% in the 3rd quarter. Emerald Advisers LLC now owns 2,146,767 shares of the company’s stock valued at $51,308,000 after buying an additional 55,407 shares during the period. Essex Investment Management Co. LLC acquired a new stake in Travere Therapeutics during the 3rd quarter worth $3,872,000. Capital Fund Management S.A. bought a new position in Travere Therapeutics during the second quarter worth about $1,501,000. Voya Investment Management LLC lifted its holdings in Travere Therapeutics by 16.2% during the third quarter. Voya Investment Management LLC now owns 194,854 shares of the company’s stock worth $4,657,000 after acquiring an additional 27,133 shares in the last quarter. Finally, Lisanti Capital Growth LLC acquired a new position in Travere Therapeutics in the third quarter valued at about $3,095,000.

Travere Therapeutics Stock Performance

Travere Therapeutics stock opened at $29.70 on Wednesday. The company has a market cap of $2.74 billion, a PE ratio of -99.00 and a beta of 0.81. The company has a current ratio of 2.74, a quick ratio of 2.70 and a debt-to-equity ratio of 2.71. Travere Therapeutics has a 1 year low of $12.91 and a 1 year high of $42.13. The company’s 50-day moving average is $29.10 and its two-hundred day moving average is $30.75.

Travere Therapeutics Company Profile

Travere Therapeutics, Inc (NASDAQ: TVTX) is a biopharmaceutical company headquartered in San Diego, California, dedicated to the development and commercialization of therapies for rare kidney and genetic disorders. The company’s mission is to address unmet needs in conditions with limited treatment options by focusing on diseases that affect small patient populations. Travere combines research, development and commercial capabilities to bring innovative medicines to market.

The company’s lead product is sparsentan, a dual endothelin angiotensin receptor antagonist that has received accelerated approval from the U.S.