Analysts Set Travere Therapeutics, Inc. (NASDAQ:TVTX) Target Price at $61.67

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) have been assigned a consensus rating of “Moderate Buy” from the thirteen research firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $61.6667.

A number of research analysts recently issued reports on the stock. Wedbush boosted their price objective on shares of Travere Therapeutics from $61.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Wall Street Zen cut shares of Travere Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Canaccord Genuity Group raised their price objective on Travere Therapeutics from $62.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Citigroup lifted their target price on Travere Therapeutics from $70.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Finally, Weiss Ratings cut Travere Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 23rd.

Travere Therapeutics Trading Up 0.2%

NASDAQ:TVTX opened at $67.12 on Friday. Travere Therapeutics has a 1-year low of $17.05 and a 1-year high of $67.50. The business’s 50-day moving average price is $58.88 and its two-hundred day moving average price is $44.43. The company has a current ratio of 4.05, a quick ratio of 3.99 and a debt-to-equity ratio of 24.58. The firm has a market capitalization of $6.33 billion, a price-to-earnings ratio of -145.91 and a beta of 1.12.

Travere Therapeutics (NASDAQ:TVTX) last posted 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. The company had revenue of $169.58 million during the quarter, compared to analyst estimates of $157.27 million. Travere Therapeutics had a negative return on equity of 55.15% and a negative net margin of 7.35%.The company’s revenue for the quarter was up 48.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.13 EPS. On average, equities analysts expect that Travere Therapeutics will post -0.56 earnings per share for the current year.

Insider Activity

In other news, Director Timothy Coughlin sold 10,000 shares of Travere Therapeutics stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $50.07, for a total transaction of $500,700.00. Following the transaction, the director owned 56,250 shares in the company, valued at $2,816,437.50. The trade was a 15.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Roy D. Baynes sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $50.00, for a total value of $225,000.00. Following the completion of the transaction, the director owned 41,500 shares of the company’s stock, valued at $2,075,000. This represents a 9.78% 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 own 4.44% of the company’s stock.

Hedge Funds Weigh In On Travere Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its position in Travere Therapeutics by 53.4% in the second quarter. GAMMA Investing LLC now owns 606 shares of the company’s stock valued at $34,000 after buying an additional 211 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Travere Therapeutics by 69.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the company’s stock worth $45,000 after buying an additional 487 shares in the last quarter. Comerica Bank lifted its stake in shares of Travere Therapeutics by 77.5% in the 4th quarter. Comerica Bank now owns 1,127 shares of the company’s stock valued at $43,000 after acquiring an additional 492 shares during the last quarter. ProShare Advisors LLC lifted its stake in shares of Travere Therapeutics by 4.1% in the 4th quarter. ProShare Advisors LLC now owns 19,007 shares of the company’s stock valued at $726,000 after acquiring an additional 756 shares during the last quarter. Finally, Allworth Financial LP acquired a new stake in shares of Travere Therapeutics during the 2nd quarter valued at $47,000.

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.