Travere Therapeutics (NASDAQ:TVTX) Price Target Raised to $75.00 at TD Cowen

Travere Therapeutics (NASDAQ:TVTX) had its price objective upped by stock analysts at TD Cowen from $60.00 to $75.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s target price indicates a potential upside of 19.95% from the company’s previous close.

A number of other research firms have also issued reports on TVTX. Weiss Ratings lowered shares of Travere Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 23rd. Evercore reiterated an “outperform” rating on shares of Travere Therapeutics in a research note on Wednesday. Wedbush raised their target price on shares of Travere Therapeutics from $55.00 to $61.00 and gave the stock an “outperform” rating in a report on Monday, June 22nd. Canaccord Genuity Group boosted their target price on shares of Travere Therapeutics from $56.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Finally, HC Wainwright upped their price target on shares of Travere Therapeutics from $57.00 to $67.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Eleven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $55.92.

Travere Therapeutics Stock Performance

Shares of NASDAQ:TVTX traded up $6.51 during trading on Wednesday, hitting $62.53. The stock had a trading volume of 4,444,029 shares, compared to its average volume of 2,124,614. Travere Therapeutics has a 12-month low of $15.60 and a 12-month high of $66.24. The stock has a market capitalization of $5.81 billion, a price-to-earnings ratio of -269.69 and a beta of 1.12. The company has a quick ratio of 3.08, a current ratio of 3.13 and a debt-to-equity ratio of 3.16. The stock has a 50-day simple moving average of $54.00 and a two-hundred day simple moving average of $40.65.

Travere Therapeutics (NASDAQ:TVTX) last released its earnings results on Monday, May 4th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.29. The firm had revenue of $127.20 million during the quarter, compared to the consensus estimate of $136.23 million. Travere Therapeutics had a negative return on equity of 26.16% and a negative net margin of 4.00%.The company’s revenue was up 55.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.47) earnings per share. On average, equities research analysts expect that Travere Therapeutics will post -0.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Roy D. Baynes sold 4,500 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $50.00, for a total transaction of $225,000.00. Following the sale, the director owned 41,500 shares in the company, valued at approximately $2,075,000. This trade represents a 9.78% decrease in their ownership of the stock. The transaction 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, Director Timothy Coughlin sold 10,000 shares of Travere Therapeutics stock in a transaction on Friday, June 12th. The shares were sold at an average price of $50.07, for a total transaction of $500,700.00. Following the completion of the transaction, the director directly owned 56,250 shares of the company’s stock, valued at $2,816,437.50. The trade was a 15.09% decrease in their position. 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. Corporate insiders own 4.44% of the company’s stock.

Institutional Trading of Travere Therapeutics

Institutional investors have recently bought and sold shares of the business. Raymond James Financial Inc. purchased a new stake in shares of Travere Therapeutics in the second quarter valued at approximately $33,000. GAMMA Investing LLC lifted its position in shares of Travere Therapeutics by 53.4% during the 2nd 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. Fifth Third Bancorp acquired a new stake in Travere Therapeutics in the 1st quarter valued at $35,000. State of Wyoming acquired a new stake in Travere Therapeutics in the 4th quarter valued at $37,000. Finally, Torren Management LLC purchased a new stake in Travere Therapeutics in the 4th quarter worth $38,000.

About Travere Therapeutics

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.