Travere Therapeutics, Inc. (NASDAQ:TVTX) Stock Has Average Target Price of $69.50

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) have earned an average recommendation of “Moderate Buy” from the twelve analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $69.50.

Several research analysts have commented on TVTX shares. Canaccord Genuity Group lifted their price target on shares of Travere Therapeutics from $62.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Piper Sandler reaffirmed an “overweight” rating on shares of Travere Therapeutics in a research note on Monday, August 17th. TD Cowen upped their price objective on shares of Travere Therapeutics from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. HC Wainwright reaffirmed a “buy” rating and set a $67.00 target price on shares of Travere Therapeutics in a report on Tuesday, September 22nd. Finally, Guggenheim increased their target price on shares of Travere Therapeutics from $75.00 to $89.00 and gave the company a “buy” rating in a report on Thursday, September 24th.

Travere Therapeutics Stock Performance

NASDAQ:TVTX opened at $52.79 on Friday. The business has a 50 day moving average of $61.68 and a 200 day moving average of $52.62. The company has a market capitalization of $4.98 billion, a price-to-earnings ratio of -114.76 and a beta of 1.13. Travere Therapeutics has a 1-year low of $22.59 and a 1-year high of $68.73. The company has a debt-to-equity ratio of 24.58, a current ratio of 4.05 and a quick ratio of 3.99.

Travere Therapeutics (NASDAQ:TVTX) last issued its earnings results on Tuesday, August 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.03. Travere Therapeutics had a negative return on equity of 55.15% and a negative net margin of 7.35%. The business had revenue of $169.58 million during the quarter, compared to analyst estimates of $157.27 million. During the same quarter in the prior year, the firm earned $0.13 earnings per share. Travere Therapeutics’s revenue for the quarter was up 48.2% on a year-over-year basis. On average, sell-side analysts predict that Travere Therapeutics will post -0.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Jula Inrig sold 44,674 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $62.34, for a total transaction of $2,784,977.16. Following the transaction, the executive vice president directly owned 100,491 shares of the company’s stock, valued at approximately $6,264,608.94. This trade represents a 30.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Elizabeth E. Reed sold 37,500 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $62.34, for a total value of $2,337,750.00. Following the transaction, the insider directly owned 105,389 shares in the company, valued at $6,569,950.26. This trade represents a 26.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,050,294 shares of company stock valued at $66,336,443 over the last three months. 4.44% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Travere Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of TVTX. GAMMA Investing LLC grew its position in Travere Therapeutics by 53.4% during the 2nd quarter. GAMMA Investing LLC now owns 606 shares of the company’s stock worth $34,000 after acquiring an additional 211 shares during the last quarter. Fifth Third Bancorp purchased a new position in Travere Therapeutics in the 1st quarter worth approximately $35,000. Allworth Financial LP purchased a new position in Travere Therapeutics in the 2nd quarter worth approximately $47,000. Integrated Wealth Concepts LLC bought a new stake in Travere Therapeutics in the second quarter valued at approximately $70,000. Finally, Rockefeller Capital Management L.P. lifted its position in Travere Therapeutics by 1,604.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,642 shares of the company’s stock valued at $101,000 after purchasing an additional 2,487 shares during the last quarter.

About Travere Therapeutics

Travere Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare kidney and immune-mediated diseases. The company’s work centers on conditions with limited treatment options, including IgA nephropathy (IgAN) and focal segmental glomerulosclerosis (FSGS).

Travere’s lead commercial product is FILSPARI (sparsentan), an oral treatment approved in the United States for certain adults with primary IgAN who are at risk of disease progression.