Travere Therapeutics (NASDAQ:TVTX) Price Target Lowered to $32.00 at Citigroup

Travere Therapeutics (NASDAQ:TVTX) had its target price decreased by Citigroup from $35.00 to $32.00 in a report published on Wednesday, Marketbeat Ratings reports. Citigroup currently has a buy rating on the stock.

Several other brokerages have also recently commented on TVTX. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Travere Therapeutics in a research report on Wednesday, April 23rd. Evercore ISI lifted their price objective on shares of Travere Therapeutics from $33.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Stifel Nicolaus upped their price target on shares of Travere Therapeutics from $22.00 to $23.00 and gave the company a “hold” rating in a research report on Friday, May 2nd. Guggenheim reaffirmed a “buy” rating and issued a $47.00 price target on shares of Travere Therapeutics in a research note on Monday, April 14th. Finally, Bank of America boosted their target price on shares of Travere Therapeutics from $29.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, April 1st. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $32.14.

Travere Therapeutics Price Performance

TVTX opened at $14.52 on Wednesday. Travere Therapeutics has a 52-week low of $6.80 and a 52-week high of $25.29. The company has a 50 day moving average of $16.87 and a two-hundred day moving average of $18.59. The company has a market cap of $1.29 billion, a P/E ratio of -3.54 and a beta of 0.75. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.55) by $0.08. The company had revenue of $81.73 million during the quarter, compared to the consensus estimate of $77.44 million. Travere Therapeutics had a negative net margin of 137.90% and a negative return on equity of 1,636.87%. Travere Therapeutics’s revenue for the quarter was up 83.3% on a year-over-year basis. During the same quarter last year, the company earned ($1.76) earnings per share. On average, analysts expect that Travere Therapeutics will post -1.4 earnings per share for the current year.

Insider Transactions at Travere Therapeutics

In other news, CEO Eric M. Dube sold 18,924 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $21.05, for a total transaction of $398,350.20. Following the transaction, the chief executive officer now directly owns 419,173 shares in the company, valued at approximately $8,823,591.65. This represents a 4.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Peter Heerma sold 1,771 shares of the firm’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $21.05, for a total value of $37,279.55. Following the completion of the transaction, the insider now owns 128,215 shares in the company, valued at approximately $2,698,925.75. This represents a 1.36% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,527 shares of company stock valued at $473,814. Corporate insiders own 4.19% of the company’s stock.

Institutional Trading of Travere Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. Summit Investment Advisors Inc. boosted its stake in Travere Therapeutics by 9.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,905 shares of the company’s stock worth $138,000 after purchasing an additional 667 shares during the period. Arizona State Retirement System raised its holdings in shares of Travere Therapeutics by 4.3% in the 1st quarter. Arizona State Retirement System now owns 23,364 shares of the company’s stock valued at $419,000 after purchasing an additional 968 shares during the period. E Fund Management Co. Ltd. lifted its position in shares of Travere Therapeutics by 8.6% in the first quarter. E Fund Management Co. Ltd. now owns 13,553 shares of the company’s stock valued at $243,000 after buying an additional 1,072 shares during the last quarter. Diversified Trust Co boosted its holdings in shares of Travere Therapeutics by 8.6% during the 1st quarter. Diversified Trust Co now owns 15,959 shares of the company’s stock worth $286,000 after buying an additional 1,258 shares during the period. Finally, Oak Ridge Investments LLC grew its position in shares of Travere Therapeutics by 2.8% in the first quarter. Oak Ridge Investments LLC now owns 54,070 shares of the company’s stock valued at $969,000 after purchasing an additional 1,471 shares during the last quarter.

About Travere Therapeutics

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.