Travere Therapeutics (NASDAQ:TVTX) Price Target Raised to $45.00

Travere Therapeutics (NASDAQ:TVTX) had its price objective boosted by research analysts at Canaccord Genuity Group from $22.00 to $45.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would suggest a potential upside of 89.47% from the company’s previous close.

Several other analysts have also commented on the company. Wells Fargo & Company raised Travere Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $9.00 to $27.00 in a research note on Monday, October 21st. HC Wainwright boosted their target price 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. Piper Sandler increased their target price on shares of Travere Therapeutics from $12.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Barclays lifted their price target on shares of Travere Therapeutics from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Finally, Scotiabank upped their price objective on shares of Travere Therapeutics from $23.00 to $27.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $25.92.

Travere Therapeutics Stock Up 12.6 %

NASDAQ TVTX opened at $23.75 on Wednesday. Travere Therapeutics has a 1-year low of $5.12 and a 1-year high of $25.29. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of -5.22 and a beta of 0.72. The stock’s 50 day moving average is $18.98 and its two-hundred day moving average is $15.90. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96.

Insider Buying and Selling

In other Travere Therapeutics news, CAO Sandra Calvin sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $17.22, for a total value of $258,300.00. Following the transaction, the chief accounting officer now directly owns 54,927 shares of the company’s stock, valued at approximately $945,842.94. This trade represents a 21.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP William E. Rote sold 2,437 shares of Travere Therapeutics stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $19.46, for a total transaction of $47,424.02. Following the sale, the senior vice president now directly owns 83,170 shares of the company’s stock, valued at $1,618,488.20. This represents a 2.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 144,532 shares of company stock worth $2,845,498 in the last quarter. 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. Jennison Associates LLC acquired a new position in Travere Therapeutics in the fourth quarter valued at about $14,222,000. abrdn plc bought a new stake in shares of Travere Therapeutics in the 4th quarter valued at about $6,829,000. Prudential Financial Inc. raised its position in shares of Travere Therapeutics by 60.5% in the 4th quarter. Prudential Financial Inc. now owns 969,141 shares of the company’s stock valued at $16,882,000 after acquiring an additional 365,200 shares during the period. Emerald Advisers LLC boosted its stake in Travere Therapeutics by 19.8% during the 3rd quarter. Emerald Advisers LLC now owns 1,960,659 shares of the company’s stock worth $27,430,000 after acquiring an additional 323,513 shares during the last quarter. Finally, Impax Asset Management Group plc acquired a new position in Travere Therapeutics during the fourth quarter valued at approximately $5,226,000.

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.