Analysts Set Travere Therapeutics, Inc. (NASDAQ:TVTX) Price Target at $61.67

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) have received a consensus rating of “Moderate Buy” from the thirteen brokerages that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $61.6667.

A number of analysts have recently weighed in on the stock. HC Wainwright upped their price target on shares of Travere Therapeutics from $57.00 to $67.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Wedbush raised their price objective on shares of Travere Therapeutics from $61.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Guggenheim boosted their target price on Travere Therapeutics from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Wells Fargo & Company boosted their target price on Travere Therapeutics from $50.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. Finally, Evercore set a $78.00 target price on Travere Therapeutics in a research report on Monday, August 10th.

Travere Therapeutics Price Performance

Shares of TVTX opened at $65.22 on Friday. Travere Therapeutics has a one year low of $17.05 and a one year high of $66.38. The stock’s fifty day moving average is $58.35 and its 200-day moving average is $43.92. The company has a debt-to-equity ratio of 24.58, a quick ratio of 3.99 and a current ratio of 4.05. The firm has a market capitalization of $6.15 billion, a price-to-earnings ratio of -141.78 and a beta of 1.12.

Travere Therapeutics (NASDAQ:TVTX) last announced its earnings results on Tuesday, August 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.03. The firm had revenue of $169.58 million during the quarter, compared to analyst estimates of $157.27 million. Travere Therapeutics had a negative net margin of 7.35% and a negative return on equity of 55.15%. Travere Therapeutics’s revenue was up 48.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.13 EPS. Equities analysts anticipate that Travere Therapeutics will post -0.56 EPS for the current year.

Insiders Place Their Bets

In other news, Director Roy D. Baynes sold 4,500 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $50.00, for a total value of $225,000.00. Following the sale, the director owned 41,500 shares of the company’s stock, valued at approximately $2,075,000. The trade was a 9.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Timothy Coughlin sold 10,000 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $50.07, for a total value of $500,700.00. Following the completion of the sale, the director owned 56,250 shares of the company’s stock, valued at approximately $2,816,437.50. This trade represents a 15.09% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.44% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Travere Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. S&CO Inc. acquired a new position in Travere Therapeutics in the second quarter worth approximately $3,181,000. Stephens Investment Management Group LLC increased its holdings in shares of Travere Therapeutics by 7.6% in the fourth quarter. Stephens Investment Management Group LLC now owns 1,721,623 shares of the company’s stock valued at $65,783,000 after buying an additional 121,955 shares in the last quarter. Profund Advisors LLC lifted its position in shares of Travere Therapeutics by 209.3% during the 4th quarter. Profund Advisors LLC now owns 62,604 shares of the company’s stock valued at $2,392,000 after acquiring an additional 42,366 shares during the last quarter. State of New Jersey Common Pension Fund D acquired a new stake in shares of Travere Therapeutics during the 4th quarter valued at $1,104,000. Finally, Quantinno Capital Management LP boosted its stake in shares of Travere Therapeutics by 354.4% during the 1st quarter. Quantinno Capital Management LP now owns 68,317 shares of the company’s stock worth $2,030,000 after acquiring an additional 53,283 shares in the last quarter.

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.