Bank of America Raises Travere Therapeutics (NASDAQ:TVTX) Price Target to $31.00

Travere Therapeutics (NASDAQ:TVTX) had its target price boosted by equities researchers at Bank of America from $29.00 to $31.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s target price would indicate a potential upside of 72.99% from the company’s current price.

TVTX has been the topic of a number of other research reports. JPMorgan Chase & Co. lifted their price target on Travere Therapeutics from $42.00 to $44.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. HC Wainwright raised their price objective on shares of Travere Therapeutics from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Citigroup boosted their target price on shares of Travere Therapeutics from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, February 24th. Canaccord Genuity Group raised their target price on 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 reissued an “overweight” rating on shares of Travere Therapeutics in a research note on Friday, February 21st. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.46.

Travere Therapeutics Stock Performance

TVTX opened at $17.92 on Tuesday. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of -4.37 and a beta of 0.75. The business has a 50 day moving average price of $20.75 and a two-hundred day moving average price of $18.57. Travere Therapeutics has a 1-year low of $5.12 and a 1-year high of $25.29.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.15). The business had revenue of $74.79 million during the quarter, compared to analyst estimates of $72.38 million. Travere Therapeutics had a negative net margin of 137.90% and a negative return on equity of 1,636.87%. Research analysts predict that Travere Therapeutics will post -1.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other Travere Therapeutics news, SVP William E. Rote sold 5,200 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $23.53, for a total value of $122,356.00. Following the sale, the senior vice president now owns 98,519 shares of the company’s stock, valued at $2,318,152.07. This trade represents a 5.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jula Inrig sold 2,066 shares of Travere Therapeutics stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $19.10, for a total value of $39,460.60. Following the completion of the transaction, the insider now directly owns 59,883 shares in the company, valued at approximately $1,143,765.30. This represents a 3.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 191,335 shares of company stock valued at $4,194,712 over the last 90 days. 3.75% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Travere Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. GF Fund Management CO. LTD. bought a new position in Travere Therapeutics in the fourth quarter worth $31,000. Sterling Capital Management LLC raised its stake in Travere Therapeutics by 859.8% during the fourth quarter. Sterling Capital Management LLC now owns 2,361 shares of the company’s stock worth $41,000 after acquiring an additional 2,115 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Travere Therapeutics during the 4th quarter worth about $53,000. Gen Wealth Partners Inc bought a new position in shares of Travere Therapeutics in the fourth quarter valued at approximately $73,000. Finally, Quarry LP bought a new position in Travere Therapeutics in the 3rd quarter valued at $105,000.

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.