Travere Therapeutics (NASDAQ:TVTX) Price Target Raised to $35.00 at Citigroup

Travere Therapeutics (NASDAQ:TVTX) had its target price raised by investment analysts at Citigroup from $31.00 to $35.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price target would indicate a potential upside of 63.90% from the stock’s current price.

A number of other equities analysts also recently issued reports on TVTX. Barclays increased their price target on Travere Therapeutics from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Scotiabank increased their target price on shares of Travere Therapeutics from $27.00 to $32.00 and gave the stock a “sector outperform” rating in a report on Wednesday, February 12th. Cantor Fitzgerald reissued an “overweight” rating on shares of Travere Therapeutics in a research report on Friday. Canaccord Genuity Group boosted their price target on shares of Travere Therapeutics from $22.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Finally, HC Wainwright increased their price objective on shares of Travere Therapeutics from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Travere Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $29.00.

Travere Therapeutics Trading Down 2.8 %

TVTX traded down $0.63 on Monday, reaching $21.35. 480,678 shares of the company traded hands, compared to its average volume of 1,601,815. The company has a market cap of $1.67 billion, a P/E ratio of -5.18 and a beta of 0.72. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96. Travere Therapeutics has a one year low of $5.12 and a one year high of $25.29. The firm has a fifty day simple moving average of $19.68 and a two-hundred day simple moving average of $16.68.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($0.73) earnings per share for the quarter, missing the consensus estimate of ($0.58) by ($0.15). Travere Therapeutics had a negative net margin of 137.90% and a negative return on equity of 1,636.87%. The company had revenue of $74.79 million for the quarter, compared to the consensus estimate of $72.38 million. As a group, equities research analysts expect that Travere Therapeutics will post -1.4 earnings per share for the current year.

Insider Transactions at Travere Therapeutics

In related news, CAO Sandra Calvin sold 15,000 shares of the business’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $17.22, for a total transaction of $258,300.00. Following the transaction, the chief accounting officer now directly owns 54,927 shares in the company, valued at $945,842.94. The trade was a 21.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP William E. Rote sold 2,437 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $19.46, for a total value of $47,424.02. Following the transaction, the senior vice president now directly owns 83,170 shares in the company, valued at $1,618,488.20. This represents a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 206,335 shares of company stock valued at $4,453,012. Corporate insiders own 3.75% of the company’s stock.

Institutional Trading of Travere Therapeutics

A number of institutional investors have recently bought and sold shares of the stock. Rock Springs Capital Management LP increased its stake in Travere Therapeutics by 6.2% during the 4th quarter. Rock Springs Capital Management LP now owns 4,973,649 shares of the company’s stock valued at $86,641,000 after purchasing an additional 289,173 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Travere Therapeutics by 28.5% during the fourth quarter. Renaissance Technologies LLC now owns 2,409,514 shares of the company’s stock valued at $41,974,000 after buying an additional 534,500 shares during the last quarter. Driehaus Capital Management LLC increased its position in shares of Travere Therapeutics by 608.1% in the 4th quarter. Driehaus Capital Management LLC now owns 2,217,975 shares of the company’s stock valued at $38,637,000 after acquiring an additional 1,904,733 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in Travere Therapeutics by 36.7% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,174,213 shares of the company’s stock worth $37,875,000 after acquiring an additional 583,836 shares during the last quarter. Finally, Emerald Advisers LLC lifted its position in Travere Therapeutics by 8.4% during the 4th quarter. Emerald Advisers LLC now owns 2,125,744 shares of the company’s stock worth $37,030,000 after acquiring an additional 165,085 shares during the period.

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.