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

Travere Therapeutics (NASDAQ:TVTX) had its price objective lifted by Canaccord Genuity Group from $15.00 to $18.00 in a research report report published on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Several other research analysts have also commented on the company. Wells Fargo & Company boosted their price target on shares of Travere Therapeutics from $8.00 to $9.00 and gave the company an equal weight rating in a research report on Friday, February 16th. Piper Sandler lifted their price target on shares of Travere Therapeutics from $10.00 to $11.00 and gave the company a neutral rating in a research report on Thursday, January 18th. Guggenheim reiterated a neutral rating on shares of Travere Therapeutics in a research report on Wednesday, March 27th. Wedbush reissued an outperform rating and set a $13.00 price objective on shares of Travere Therapeutics in a research report on Wednesday, April 17th. Finally, HC Wainwright increased their target price on shares of Travere Therapeutics from $17.00 to $19.00 and gave the stock a buy rating in a research note on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $16.69.

Travere Therapeutics Stock Performance

TVTX opened at $6.75 on Tuesday. The firm has a market capitalization of $513.74 million, a PE ratio of -4.19 and a beta of 0.69. The company has a current ratio of 3.47, a quick ratio of 3.41 and a debt-to-equity ratio of 1.88. Travere Therapeutics has a twelve month low of $5.12 and a twelve month high of $19.54. The firm’s 50-day moving average price is $7.01 and its 200 day moving average price is $7.60.

Travere Therapeutics (NASDAQ:TVTX) last issued its earnings results on Monday, May 6th. The company reported ($1.76) earnings per share for the quarter, missing the consensus estimate of ($0.98) by ($0.78). Travere Therapeutics had a negative return on equity of 177.97% and a negative net margin of 56.02%. The company had revenue of $41.40 million for the quarter, compared to analyst estimates of $43.46 million. During the same quarter in the prior year, the firm earned ($1.27) earnings per share. The company’s revenue for the quarter was up 34.0% on a year-over-year basis. As a group, sell-side analysts expect that Travere Therapeutics will post -3.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in TVTX. Vanguard Group Inc. grew its position in shares of Travere Therapeutics by 10.9% during the third quarter. Vanguard Group Inc. now owns 4,667,458 shares of the company’s stock worth $41,727,000 after buying an additional 460,176 shares in the last quarter. Jump Financial LLC grew its holdings in Travere Therapeutics by 232.3% during the 3rd quarter. Jump Financial LLC now owns 188,925 shares of the company’s stock worth $1,689,000 after acquiring an additional 132,067 shares in the last quarter. Schonfeld Strategic Advisors LLC increased its position in shares of Travere Therapeutics by 71.4% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 524,000 shares of the company’s stock valued at $4,685,000 after purchasing an additional 218,371 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of Travere Therapeutics by 9.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,671,770 shares of the company’s stock valued at $14,946,000 after purchasing an additional 146,970 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Travere Therapeutics by 4.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 565,919 shares of the company’s stock worth $5,059,000 after purchasing an additional 25,566 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.