Brokerages Set Travere Therapeutics, Inc. (NASDAQ:TVTX) Target Price at $47.83

Travere Therapeutics, Inc. (NASDAQ:TVTX) has been assigned a consensus rating of “Moderate Buy” from the thirteen research firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $47.8333.

A number of research firms recently weighed in on TVTX. Wall Street Zen lowered shares of Travere Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. TD Cowen raised their target price on shares of Travere Therapeutics from $45.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Wells Fargo & Company raised their target price on shares of Travere Therapeutics from $40.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Wedbush raised their target price on shares of Travere Therapeutics from $53.00 to $55.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. Finally, Piper Sandler raised shares of Travere Therapeutics from a “neutral” rating to an “overweight” rating and set a $49.00 target price for the company in a report on Tuesday, April 14th.

Travere Therapeutics Trading Up 0.7%

Travere Therapeutics stock opened at $42.89 on Thursday. The stock has a market cap of $3.99 billion, a P/E ratio of -186.47 and a beta of 1.13. The company has a debt-to-equity ratio of 3.16, a current ratio of 3.13 and a quick ratio of 3.08. Travere Therapeutics has a 1 year low of $13.88 and a 1 year high of $48.61. The firm’s 50 day moving average price is $34.85 and its 200-day moving average price is $33.67.

Travere Therapeutics (NASDAQ:TVTX) last posted its earnings results on Monday, May 4th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.29. Travere Therapeutics had a negative net margin of 4.00% and a negative return on equity of 26.16%. The firm had revenue of $127.20 million during the quarter, compared to analyst estimates of $136.23 million. During the same period last year, the firm posted ($0.47) earnings per share. Travere Therapeutics’s revenue for the quarter was up 55.6% compared to the same quarter last year. On average, equities analysts predict that Travere Therapeutics will post -0.26 earnings per share for the current fiscal year.

Insider Transactions at Travere Therapeutics

In other Travere Therapeutics news, Director Roy D. Baynes sold 32,750 shares of Travere Therapeutics stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $41.29, for a total transaction of $1,352,247.50. Following the completion of the transaction, the director directly owned 37,500 shares of the company’s stock, valued at $1,548,375. The trade was a 46.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Sandra Calvin sold 21,977 shares of Travere Therapeutics stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $41.07, for a total transaction of $902,595.39. Following the transaction, the chief accounting officer directly owned 42,353 shares of the company’s stock, valued at $1,739,437.71. The trade was a 34.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 400,015 shares of company stock valued at $15,895,428 in the last 90 days. Company insiders own 4.44% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Travere Therapeutics by 10.3% during the third quarter. Vanguard Group Inc. now owns 6,613,368 shares of the company’s stock worth $158,059,000 after buying an additional 619,085 shares during the period. State Street Corp boosted its stake in Travere Therapeutics by 47.8% during the fourth quarter. State Street Corp now owns 4,756,666 shares of the company’s stock worth $181,752,000 after buying an additional 1,538,827 shares during the period. Perceptive Advisors LLC boosted its stake in Travere Therapeutics by 12.7% during the fourth quarter. Perceptive Advisors LLC now owns 4,278,180 shares of the company’s stock worth $163,469,000 after buying an additional 483,565 shares during the period. Adage Capital Partners GP L.L.C. boosted its stake in Travere Therapeutics by 27.4% during the second quarter. Adage Capital Partners GP L.L.C. now owns 2,784,000 shares of the company’s stock worth $41,203,000 after buying an additional 599,102 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in Travere Therapeutics by 28.2% during the fourth quarter. Renaissance Technologies LLC now owns 2,246,779 shares of the company’s stock worth $85,849,000 after buying an additional 494,665 shares during the period.

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.