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

Travere Therapeutics (NASDAQ:TVTX) had its target price increased by Citigroup from $31.00 to $35.00 in a research note released on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also recently issued reports about the company. Barclays raised their target price on Travere Therapeutics from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Piper Sandler raised their price objective on shares of Travere Therapeutics from $12.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Scotiabank boosted their target price on shares of Travere Therapeutics from $27.00 to $32.00 and gave the company a “sector outperform” rating in a research report on Wednesday, February 12th. Canaccord Genuity Group increased their price target on shares of Travere Therapeutics from $22.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Travere Therapeutics in a research note on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Travere Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $30.62.

Travere Therapeutics Trading Up 1.8 %

Shares of TVTX stock opened at $21.03 on Monday. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. Travere Therapeutics has a 12-month low of $5.12 and a 12-month high of $25.29. The stock has a market capitalization of $1.64 billion, a P/E ratio of -5.13 and a beta of 0.72. The firm’s 50 day moving average is $19.90 and its 200 day moving average is $16.89.

Travere Therapeutics (NASDAQ:TVTX) last released 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 firm had revenue of $74.79 million for the quarter, compared to the consensus estimate of $72.38 million. Research analysts expect that Travere Therapeutics will post -1.4 earnings per share for the current year.

Insiders Place Their Bets

In other Travere Therapeutics news, CFO Christopher R. Cline sold 5,192 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $20.12, for a total value of $104,463.04. Following the completion of the transaction, the chief financial officer now directly owns 90,038 shares in the company, valued at $1,811,564.56. This represents a 5.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP William E. Rote sold 5,200 shares of Travere Therapeutics stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $23.53, for a total transaction of $122,356.00. Following the sale, the senior vice president now owns 98,519 shares in the company, valued at approximately $2,318,152.07. The trade was a 5.01 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 206,335 shares of company stock worth $4,453,012. Corporate insiders own 4.06% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional 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 about $31,000. Sterling Capital Management LLC grew its holdings in Travere Therapeutics by 859.8% during the 4th quarter. Sterling Capital Management LLC now owns 2,361 shares of the company’s stock valued at $41,000 after buying an additional 2,115 shares in the last quarter. R Squared Ltd bought a new stake in Travere Therapeutics in the 4th quarter worth approximately $53,000. CWM LLC raised its holdings in shares of Travere Therapeutics by 158.5% during the 3rd quarter. CWM LLC now owns 4,999 shares of the company’s stock worth $70,000 after acquiring an additional 3,065 shares in the last quarter. Finally, Gen Wealth Partners Inc bought a new position in shares of Travere Therapeutics during the 4th quarter valued at approximately $73,000.

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.