Bank of America Forecasts Strong Price Appreciation for Travere Therapeutics (NASDAQ:TVTX) Stock

Travere Therapeutics (NASDAQ:TVTX) had its price objective increased by Bank of America from $29.00 to $31.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price objective suggests a potential upside of 72.80% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. Scotiabank lifted their price target on shares of Travere Therapeutics from $27.00 to $32.00 and gave the company a “sector outperform” rating in a research report on Wednesday, February 12th. HC Wainwright raised their target price on shares of Travere Therapeutics from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Citigroup boosted their target price on shares of Travere Therapeutics from $31.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, February 24th. Evercore ISI raised their price target on Travere Therapeutics from $33.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. boosted their price objective on Travere Therapeutics from $42.00 to $44.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Travere Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $31.46.

Travere Therapeutics Price Performance

NASDAQ TVTX opened at $17.94 on Tuesday. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96. The stock has a market capitalization of $1.59 billion, a PE ratio of -4.38 and a beta of 0.75. Travere Therapeutics has a 12-month low of $5.12 and a 12-month high of $25.29. The company has a 50 day moving average price of $20.68 and a two-hundred day moving average price of $18.59.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.15). The company had revenue of $74.79 million during the quarter, compared to analyst estimates of $72.38 million. Travere Therapeutics had a negative return on equity of 1,636.87% and a negative net margin of 137.90%. As a group, equities analysts predict that Travere Therapeutics will post -1.4 earnings per share for the current fiscal year.

Insider Transactions at Travere Therapeutics

In related news, insider Peter Heerma sold 1,584 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $18.94, for a total transaction of $30,000.96. Following the sale, the insider now directly owns 106,374 shares in the company, valued at $2,014,723.56. This represents a 1.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP William E. Rote sold 2,437 shares of the business’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $19.46, for a total value of $47,424.02. Following the completion of the transaction, the senior vice president now directly owns 83,170 shares in the company, valued at approximately $1,618,488.20. This represents a 2.85 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 191,335 shares of company stock valued at $4,194,712. Corporate insiders own 3.75% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Entropy Technologies LP bought a new stake in shares of Travere Therapeutics during the fourth quarter worth approximately $214,000. US Bancorp DE increased its stake in Travere Therapeutics by 323.4% in the fourth quarter. US Bancorp DE now owns 31,795 shares of the company’s stock valued at $554,000 after purchasing an additional 24,286 shares in the last quarter. FMR LLC raised its holdings in Travere Therapeutics by 27.5% in the third quarter. FMR LLC now owns 147,416 shares of the company’s stock worth $2,062,000 after purchasing an additional 31,772 shares during the period. Two Sigma Advisers LP grew its holdings in shares of Travere Therapeutics by 30.2% in the 3rd quarter. Two Sigma Advisers LP now owns 720,400 shares of the company’s stock valued at $10,078,000 after buying an additional 167,100 shares during the period. Finally, Geode Capital Management LLC raised its stake in Travere Therapeutics by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,731,045 shares of the company’s stock worth $24,222,000 after buying an additional 64,744 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.