Travere Therapeutics (NASDAQ:TVTX) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Travere Therapeutics (NASDAQ:TVTX) had its price target increased by Canaccord Genuity Group from $22.00 to $45.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

TVTX has been the subject of several other research reports. Cantor Fitzgerald began coverage on Travere Therapeutics in a research note on Friday, January 10th. They set an “overweight” rating for the company. Scotiabank raised their target price on Travere Therapeutics from $23.00 to $27.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 1st. Wells Fargo & Company raised Travere Therapeutics from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $9.00 to $27.00 in a research note on Monday, October 21st. HC Wainwright raised their target price on Travere Therapeutics from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Finally, Piper Sandler raised their price objective on Travere Therapeutics from $12.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $27.77.

Travere Therapeutics Trading Down 3.4 %

NASDAQ TVTX opened at $22.91 on Wednesday. The business has a 50 day simple moving average of $19.22 and a 200 day simple moving average of $16.10. Travere Therapeutics has a one year low of $5.12 and a one year high of $25.29. The stock has a market capitalization of $1.79 billion, a P/E ratio of -5.04 and a beta of 0.72. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68.

Insider Activity

In other news, CEO Eric M. Dube sold 50,691 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $20.21, for a total value of $1,024,465.11. Following the transaction, the chief executive officer now owns 430,548 shares in the company, valued at $8,701,375.08. This trade represents a 10.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Sandra Calvin sold 54,244 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $25.00, for a total value of $1,356,100.00. Following the completion of the transaction, the chief accounting officer now owns 54,410 shares in the company, valued at $1,360,250. This represents a 49.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 218,425 shares of company stock worth $4,674,259 over the last 90 days. 3.75% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Sterling Capital Management LLC lifted its holdings in Travere Therapeutics by 859.8% during the fourth quarter. Sterling Capital Management LLC now owns 2,361 shares of the company’s stock worth $41,000 after acquiring an additional 2,115 shares during the period. R Squared Ltd bought a new stake in Travere Therapeutics during the fourth quarter worth $53,000. CWM LLC lifted its holdings in Travere Therapeutics by 158.5% during the third quarter. CWM LLC now owns 4,999 shares of the company’s stock worth $70,000 after acquiring an additional 3,065 shares during the period. Quarry LP bought a new stake in Travere Therapeutics during the third quarter worth $105,000. Finally, Ameritas Investment Partners Inc. lifted its holdings in Travere Therapeutics by 9.2% during the fourth quarter. Ameritas Investment Partners Inc. now owns 7,905 shares of the company’s stock worth $138,000 after acquiring an additional 667 shares during the period.

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.