Travere Therapeutics (NASDAQ:TVTX) Price Target Cut to $18.00

Travere Therapeutics (NASDAQ:TVTX) had its price target lowered by Bank of America from $19.00 to $18.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price objective suggests a potential upside of 28.48% from the stock’s previous close.

A number of other analysts have also weighed in on TVTX. Citigroup upped their target price on shares of Travere Therapeutics from $14.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. HC Wainwright upped their target price on shares of Travere Therapeutics from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Piper Sandler upped their target price on shares of Travere Therapeutics from $11.00 to $12.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Wedbush upped their price target on Travere Therapeutics from $13.00 to $16.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Finally, Barclays upped their price target on Travere Therapeutics from $12.00 to $14.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $16.82.

Travere Therapeutics Stock Down 6.8 %

Shares of NASDAQ:TVTX opened at $14.01 on Friday. The company has a debt-to-equity ratio of 24.96, a current ratio of 3.04 and a quick ratio of 2.99. The firm has a market capitalization of $1.07 billion, a PE ratio of -6.67 and a beta of 0.71. The firm’s 50-day moving average is $10.66 and its two-hundred day moving average is $8.45. Travere Therapeutics has a 1 year low of $5.12 and a 1 year high of $15.36.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.03). Travere Therapeutics had a negative return on equity of 269.18% and a negative net margin of 82.14%. The business had revenue of $54.12 million for the quarter, compared to analysts’ expectations of $49.50 million. Analysts predict that Travere Therapeutics will post -3.95 EPS for the current year.

Insider Activity

In other news, CEO Eric M. Dube sold 21,125 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $11.52, for a total value of $243,360.00. Following the completion of the sale, the chief executive officer now directly owns 361,975 shares of the company’s stock, valued at $4,169,952. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Jula Inrig sold 2,191 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $11.52, for a total value of $25,240.32. Following the completion of the sale, the insider now directly owns 62,633 shares of the company’s stock, valued at $721,532.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Eric M. Dube sold 21,125 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $243,360.00. Following the completion of the sale, the chief executive officer now directly owns 361,975 shares of the company’s stock, valued at $4,169,952. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,707 shares of company stock valued at $352,712. 3.75% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Travere Therapeutics

Large investors have recently modified their holdings of the company. Crestline Management LP lifted its holdings in shares of Travere Therapeutics by 32.6% during the fourth quarter. Crestline Management LP now owns 81,423 shares of the company’s stock worth $732,000 after purchasing an additional 20,002 shares during the period. Finepoint Capital LP lifted its holdings in shares of Travere Therapeutics by 60.2% during the fourth quarter. Finepoint Capital LP now owns 1,435,321 shares of the company’s stock worth $12,904,000 after purchasing an additional 539,500 shares during the period. Rafferty Asset Management LLC lifted its holdings in shares of Travere Therapeutics by 18.6% during the fourth quarter. Rafferty Asset Management LLC now owns 429,161 shares of the company’s stock worth $3,858,000 after purchasing an additional 67,168 shares during the period. Sectoral Asset Management Inc. acquired a new stake in shares of Travere Therapeutics during the fourth quarter worth $2,469,000. Finally, Kynam Capital Management LP lifted its holdings in shares of Travere Therapeutics by 105.6% during the fourth quarter. Kynam Capital Management LP now owns 2,000,000 shares of the company’s stock worth $17,980,000 after purchasing an additional 1,027,398 shares during the period.

About Travere Therapeutics

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.