Wells Fargo & Company Issues Positive Forecast for Travere Therapeutics (NASDAQ:TVTX) Stock Price

Travere Therapeutics (NASDAQ:TVTX) had its price target increased by Wells Fargo & Company from $27.00 to $35.00 in a research note published on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities research analysts have also recently commented on the stock. Scotiabank reaffirmed an “outperform” rating on shares of Travere Therapeutics in a research report on Thursday, August 7th. Jefferies Financial Group set a $35.00 target price on shares of Travere Therapeutics in a research report on Wednesday. Wall Street Zen raised shares of Travere Therapeutics from a “hold” rating to a “buy” rating in a research report on Monday, September 1st. Wedbush lifted their price target on shares of Travere Therapeutics from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. Finally, Citigroup reissued a “buy” rating on shares of Travere Therapeutics in a research report on Sunday, August 10th. Thirteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $34.07.

Travere Therapeutics Price Performance

Shares of Travere Therapeutics stock opened at $25.00 on Thursday. Travere Therapeutics has a 52-week low of $11.89 and a 52-week high of $28.69. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of -12.25 and a beta of 0.79. The company has a fifty day moving average of $17.55 and a 200-day moving average of $17.38. The company has a debt-to-equity ratio of 9.50, a quick ratio of 1.98 and a current ratio of 2.00.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.14. Travere Therapeutics had a negative net margin of 50.64% and a negative return on equity of 717.68%. The business had revenue of $94.84 million during the quarter, compared to analysts’ expectations of $100.18 million. During the same quarter in the prior year, the company posted ($0.65) EPS. The firm’s revenue for the quarter was up 111.5% compared to the same quarter last year. Equities research analysts expect that Travere Therapeutics will post -1.4 EPS for the current year.

Institutional Trading of Travere Therapeutics

Large investors have recently made changes to their positions in the stock. GF Fund Management CO. LTD. bought a new stake in shares of Travere Therapeutics in the fourth quarter worth approximately $31,000. Raymond James Financial Inc. bought a new stake in shares of Travere Therapeutics in the second quarter worth approximately $33,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Travere Therapeutics in the first quarter worth approximately $62,000. Headlands Technologies LLC bought a new stake in shares of Travere Therapeutics in the second quarter worth approximately $73,000. Finally, KBC Group NV bought a new stake in shares of Travere Therapeutics in the first quarter worth approximately $75,000.

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.