Travere Therapeutics, Inc. (NASDAQ:TVTX) Receives $38.17 Average PT from Brokerages

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) have earned an average rating of “Moderate Buy” from the fifteen research firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $38.3846.

Several research firms recently issued reports on TVTX. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Travere Therapeutics in a research note on Wednesday, January 21st. Wall Street Zen downgraded shares of Travere Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 21st. Piper Sandler raised their target price on Travere Therapeutics from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, February 6th. JPMorgan Chase & Co. reduced their price target on Travere Therapeutics from $44.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Guggenheim reiterated a “buy” rating and set a $49.00 price target on shares of Travere Therapeutics in a research note on Wednesday, January 14th.

Travere Therapeutics Stock Performance

TVTX stock opened at $27.25 on Wednesday. The company has a quick ratio of 2.70, a current ratio of 2.74 and a debt-to-equity ratio of 2.71. The company has a market capitalization of $2.51 billion, a price-to-earnings ratio of -90.83 and a beta of 0.81. Travere Therapeutics has a 12 month low of $12.91 and a 12 month high of $42.13. The firm has a 50 day moving average of $29.07 and a two-hundred day moving average of $30.60.

Insider Transactions at Travere Therapeutics

In other Travere Therapeutics news, CFO Christopher R. Cline sold 1,745 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $32.19, for a total transaction of $56,171.55. Following the completion of the sale, the chief financial officer owned 111,226 shares of the company’s stock, valued at $3,580,364.94. This represents a 1.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider William E. Rote sold 12,446 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $32.87, for a total value of $409,100.02. Following the transaction, the insider owned 109,087 shares in the company, valued at approximately $3,585,689.69. This trade represents a 10.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 234,543 shares of company stock worth $7,368,175. 4.19% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TVTX. State of Wyoming bought a new stake in Travere Therapeutics during the fourth quarter valued at about $37,000. Torren Management LLC bought a new position in shares of Travere Therapeutics in the fourth quarter worth about $38,000. Comerica Bank increased its stake in shares of Travere Therapeutics by 77.5% in the fourth quarter. Comerica Bank now owns 1,127 shares of the company’s stock worth $43,000 after purchasing an additional 492 shares during the period. Smartleaf Asset Management LLC lifted its position in shares of Travere Therapeutics by 69.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the company’s stock worth $45,000 after purchasing an additional 487 shares during the last quarter. Finally, First Horizon Corp acquired a new position in shares of Travere Therapeutics during the 3rd quarter worth about $36,000.

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.