Travere Therapeutics (NASDAQ:TVTX) Price Target Increased to $18.00 by Analysts at Barclays

Travere Therapeutics (NASDAQ:TVTX) had its price objective boosted by Barclays from $14.00 to $18.00 in a report issued on Tuesday morning, Benzinga reports. Barclays currently has an overweight rating on the stock.

Other research analysts have also recently issued research reports about the stock. HC Wainwright cut their target price on shares of Travere Therapeutics from $23.00 to $18.00 and set a buy rating on the stock in a report on Friday, September 27th. Bank of America cut their price objective on Travere Therapeutics from $19.00 to $18.00 and set a buy rating on the stock in a research report on Friday, September 27th. Guggenheim dropped their price target on Travere Therapeutics from $25.00 to $23.00 and set a buy rating for the company in a research note on Friday, September 27th. Piper Sandler upped their price objective on shares of Travere Therapeutics from $11.00 to $12.00 and gave the stock a neutral rating in a report on Friday, August 2nd. Finally, Wedbush increased their price target on shares of Travere Therapeutics from $13.00 to $16.00 and gave the stock an outperform rating in a research note on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $17.09.

Travere Therapeutics Stock Down 1.6 %

Shares of NASDAQ TVTX opened at $13.65 on Tuesday. The stock has a market capitalization of $1.04 billion, a P/E ratio of -6.44 and a beta of 0.73. The company has a debt-to-equity ratio of 24.96, a current ratio of 3.04 and a quick ratio of 2.99. Travere Therapeutics has a one year low of $5.12 and a one year high of $15.36. The firm’s 50 day simple moving average is $10.91 and its two-hundred day simple moving average is $8.58.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.87) by ($0.03). Travere Therapeutics had a negative net margin of 82.14% and a negative return on equity of 269.18%. The business had revenue of $54.12 million for the quarter, compared to analysts’ expectations of $49.50 million. As a group, analysts expect that Travere Therapeutics will post -3.95 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Eric M. Dube sold 21,125 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $243,360.00. Following the sale, the chief executive officer now owns 361,975 shares in the company, valued at $4,169,952. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Eric M. Dube sold 21,125 shares of the business’s stock in a transaction on 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 $4,169,952. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey A. Meckler sold 40,000 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $14.06, for a total value of $562,400.00. Following the transaction, the director now directly owns 81,000 shares in the company, valued at $1,138,860. The disclosure for this sale can be found here. Insiders have sold a total of 70,707 shares of company stock worth $915,112 in the last quarter. Corporate insiders own 3.75% of the company’s stock.

Institutional Trading of Travere Therapeutics

A number of large investors have recently made changes to their positions in the stock. EntryPoint Capital LLC bought a new stake in shares of Travere Therapeutics in the first quarter worth $32,000. DRW Securities LLC purchased a new position in Travere Therapeutics in the second quarter worth about $95,000. Forefront Analytics LLC grew its stake in shares of Travere Therapeutics by 10.2% during the 2nd quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock valued at $109,000 after purchasing an additional 1,237 shares during the period. China Universal Asset Management Co. Ltd. increased its position in shares of Travere Therapeutics by 68.6% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 14,652 shares of the company’s stock valued at $113,000 after purchasing an additional 5,962 shares during the last quarter. Finally, Sei Investments Co. bought a new position in shares of Travere Therapeutics in the 2nd quarter worth approximately $117,000.

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.