Travere Therapeutics, Inc. (NASDAQ:TVTX) Receives $38.86 Average PT from Analysts

Travere Therapeutics, Inc. (NASDAQ:TVTX) has received a consensus recommendation of “Moderate Buy” from the sixteen analysts that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $39.0714.

A number of equities analysts have recently commented on TVTX shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Travere Therapeutics in a report on Wednesday, January 21st. HC Wainwright reissued a “buy” rating and issued a $47.00 price target on shares of Travere Therapeutics in a research report on Friday, November 28th. TD Cowen reaffirmed a “buy” rating on shares of Travere Therapeutics in a report on Friday, October 31st. Zacks Research lowered Travere Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Finally, Wall Street Zen upgraded Travere Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 13th.

Insider Activity at Travere Therapeutics

In other news, insider Elizabeth E. Reed sold 10,000 shares of the business’s stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $27.34, for a total value of $273,400.00. Following the sale, the insider owned 90,270 shares in the company, valued at approximately $2,467,981.80. The trade was a 9.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Christopher R. Cline sold 20,000 shares of the stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $35.01, for a total transaction of $700,200.00. Following the sale, the chief financial officer owned 92,083 shares of the company’s stock, valued at $3,223,825.83. This trade represents a 17.84% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 331,925 shares of company stock valued at $11,318,755. Insiders own 4.06% of the company’s stock.

Hedge Funds Weigh In On Travere Therapeutics

A number of institutional investors have recently modified their holdings of TVTX. Emerald Advisers LLC raised its holdings in Travere Therapeutics by 2.6% in the third quarter. Emerald Advisers LLC now owns 2,146,767 shares of the company’s stock worth $51,308,000 after purchasing an additional 55,407 shares during the period. Capital Fund Management S.A. bought a new stake in shares of Travere Therapeutics in the 2nd quarter valued at $1,501,000. Squarepoint Ops LLC increased its position in shares of Travere Therapeutics by 98.7% in the 2nd quarter. Squarepoint Ops LLC now owns 479,394 shares of the company’s stock valued at $7,095,000 after buying an additional 238,070 shares in the last quarter. Voya Investment Management LLC raised its stake in Travere Therapeutics by 16.2% during the 3rd quarter. Voya Investment Management LLC now owns 194,854 shares of the company’s stock worth $4,657,000 after buying an additional 27,133 shares during the period. Finally, Lisanti Capital Growth LLC bought a new position in Travere Therapeutics during the third quarter worth about $3,095,000.

Travere Therapeutics Stock Up 1.5%

Shares of TVTX stock opened at $30.17 on Tuesday. The stock has a market cap of $2.70 billion, a P/E ratio of -28.45, a price-to-earnings-growth ratio of 0.82 and a beta of 0.83. Travere Therapeutics has a one year low of $12.91 and a one year high of $42.13. The stock has a fifty day moving average price of $33.66 and a 200 day moving average price of $28.16. The company has a debt-to-equity ratio of 4.23, a current ratio of 2.75 and a quick ratio of 2.71.

Travere Therapeutics Company Profile

Travere Therapeutics, Inc (NASDAQ: TVTX) is a biopharmaceutical company headquartered in San Diego, California, dedicated to the development and commercialization of therapies for rare kidney and genetic disorders. The company’s mission is to address unmet needs in conditions with limited treatment options by focusing on diseases that affect small patient populations. Travere combines research, development and commercial capabilities to bring innovative medicines to market.

The company’s lead product is sparsentan, a dual endothelin angiotensin receptor antagonist that has received accelerated approval from the U.S.