Travere Therapeutics (NASDAQ:TVTX) Upgraded to “Overweight” by Wells Fargo & Company

Wells Fargo & Company upgraded shares of Travere Therapeutics (NASDAQ:TVTX) from an equal weight rating to an overweight rating in a research report report published on Monday morning, MarketBeat Ratings reports. The brokerage currently has $27.00 price objective on the stock, up from their previous price objective of $9.00.

Several other equities research analysts have also recently commented on the company. Citigroup decreased their target price on Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, September 27th. Piper Sandler raised their target price on Travere Therapeutics from $11.00 to $12.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Wedbush raised their target price on Travere Therapeutics from $17.00 to $25.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. HC Wainwright reduced their price objective on Travere Therapeutics from $23.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, September 27th. Finally, Barclays raised their price objective on Travere Therapeutics from $14.00 to $18.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $21.38.

Travere Therapeutics Trading Up 0.7 %

NASDAQ TVTX opened at $18.09 on Monday. The firm has a market capitalization of $1.38 billion, a PE ratio of -9.62 and a beta of 0.73. The business’s 50-day moving average price is $13.26 and its two-hundred day moving average price is $9.57. The company has a current ratio of 3.04, a quick ratio of 2.99 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 $19.25.

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

Insider Buying and Selling

In other Travere Therapeutics news, CFO Christopher R. Cline sold 2,490 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $11.52, for a total value of $28,684.80. Following the sale, the chief financial officer now directly owns 74,595 shares in the company, valued at $859,334.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Travere Therapeutics news, Director Gary A. Lyons sold 40,000 shares of the business’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $14.73, for a total value of $589,200.00. Following the sale, the director now directly owns 51,000 shares in the company, valued at $751,230. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Christopher R. Cline sold 2,490 shares of Travere Therapeutics stock in a transaction on Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $28,684.80. Following the completion of the transaction, the chief financial officer now owns 74,595 shares of the company’s stock, valued at approximately $859,334.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 110,707 shares of company stock worth $1,504,312. 3.75% of the stock is owned by company insiders.

Hedge Funds Weigh In On Travere Therapeutics

Several hedge funds have recently made changes to their positions in TVTX. Virtu Financial LLC purchased a new position in shares of Travere Therapeutics in the fourth quarter valued at $175,000. Los Angeles Capital Management LLC purchased a new position in Travere Therapeutics during the first quarter worth about $720,000. Hennion & Walsh Asset Management Inc. grew its position in Travere Therapeutics by 14.4% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 40,790 shares of the company’s stock worth $314,000 after buying an additional 5,123 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Travere Therapeutics by 8.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,178 shares of the company’s stock worth $387,000 after buying an additional 3,754 shares in the last quarter. Finally, Oak Ridge Investments LLC grew its position in Travere Therapeutics by 13.3% during the first quarter. Oak Ridge Investments LLC now owns 65,926 shares of the company’s stock worth $508,000 after buying an additional 7,744 shares in the last quarter.

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.