Travere Therapeutics (NASDAQ:TVTX) PT Raised to $23.00 at Canaccord Genuity Group

Travere Therapeutics (NASDAQ:TVTX) had its price objective increased by Canaccord Genuity Group from $18.00 to $23.00 in a research report sent to investors on Tuesday morning, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Other analysts also recently issued reports about the company. HC Wainwright raised their price objective on Travere Therapeutics from $20.00 to $23.00 and gave the stock a buy rating in a research report on Friday, September 6th. Citigroup raised their price objective on Travere Therapeutics from $14.00 to $23.00 and gave the stock a buy rating in a research report on Friday, September 6th. Guggenheim raised Travere Therapeutics from a neutral rating to a buy rating and set a $25.00 price objective for the company in a research report on Monday, September 9th. Bank of America raised their price objective on Travere Therapeutics from $18.00 to $19.00 and gave the stock a buy rating in a research report on Friday, September 6th. Finally, Piper Sandler lifted their target price on Travere Therapeutics from $11.00 to $12.00 and gave the company a neutral rating in a research report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Travere Therapeutics has an average rating of Moderate Buy and an average price target of $17.58.

Travere Therapeutics Stock Up 7.0 %

Shares of TVTX opened at $13.48 on Tuesday. Travere Therapeutics has a 52-week low of $5.12 and a 52-week high of $14.07. The company has a market capitalization of $1.03 billion, a PE ratio of -6.42 and a beta of 0.71. The stock has a fifty day simple moving average of $9.68 and a two-hundred day simple moving average of $7.99. The company has a quick ratio of 2.99, a current ratio of 3.04 and a debt-to-equity ratio of 24.96.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.03). The business had revenue of $54.12 million for the quarter, compared to analyst estimates of $49.50 million. Travere Therapeutics had a negative return on equity of 269.18% and a negative net margin of 82.14%. As a group, equities analysts forecast that Travere Therapeutics will post -3.96 EPS for the current year.

Insider Activity

In other news, CEO Eric M. Dube sold 21,125 shares of Travere Therapeutics stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $11.52, for a total value of $243,360.00. Following the completion of the transaction, the chief executive officer now owns 361,975 shares in the company, valued at approximately $4,169,952. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Eric M. Dube sold 21,125 shares of Travere Therapeutics stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $11.52, for a total value of $243,360.00. Following the completion of the transaction, the chief executive officer now owns 361,975 shares in the company, valued at approximately $4,169,952. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Christopher R. Cline sold 2,490 shares of Travere Therapeutics stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $28,684.80. Following the completion of the transaction, the chief financial officer now owns 74,595 shares of the company’s stock, valued at approximately $859,334.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,707 shares of company stock worth $352,712. 3.75% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Travere Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Forefront Analytics LLC boosted its stake in shares of Travere Therapeutics by 10.2% in the 2nd quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock valued at $109,000 after buying an additional 1,237 shares during the period. Millennium Management LLC lifted its stake in Travere Therapeutics by 33.9% during the second quarter. Millennium Management LLC now owns 2,949,335 shares of the company’s stock worth $24,244,000 after purchasing an additional 747,406 shares during the last quarter. AQR Capital Management LLC lifted its stake in Travere Therapeutics by 55.7% during the second quarter. AQR Capital Management LLC now owns 74,069 shares of the company’s stock worth $609,000 after purchasing an additional 26,485 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Travere Therapeutics during the second quarter worth approximately $291,000. Finally, Point72 DIFC Ltd purchased a new stake in Travere Therapeutics during the second quarter worth approximately $175,000.

Travere Therapeutics Company Profile

Travere Therapeutics, Inc, a biopharmaceutical company, identifies, develops, and delivers therapies to people living with rare kidney and metabolic diseases. Its products include FILSPARI (sparsentan), a once-daily, oral medication designed to target two critical pathways in the disease progression of IgA Nephropathy (endothelin 1 and angiotensin-II); and Thiola and Thiola EC (tiopronin tablets) for the treatment of cystinuria, a rare genetic cystine transport disorder that causes high cystine levels in the urine and the formation of recurring kidney stones.