Piper Sandler Forecasts Strong Price Appreciation for Travere Therapeutics (NASDAQ:TVTX) Stock

Travere Therapeutics (NASDAQ:TVTX) had its target price raised by equities researchers at Piper Sandler from $12.00 to $22.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s target price points to a potential upside of 19.63% from the stock’s current price.

Several other brokerages have also issued reports on TVTX. Wedbush increased their price objective on Travere Therapeutics from $17.00 to $25.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. Bank of America lifted their target price on shares of Travere Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Barclays raised 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. Canaccord Genuity Group decreased their price objective on shares of Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating for the company in a report on Monday, September 30th. Finally, Citigroup cut their target price on Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating on the stock in a report on Friday, September 27th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Travere Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.62.

Travere Therapeutics Trading Down 0.9 %

Shares of NASDAQ TVTX traded down $0.17 during mid-day trading on Thursday, hitting $18.39. 47,038 shares of the company traded hands, compared to its average volume of 1,399,565. The business has a 50 day moving average of $15.96 and a two-hundred day moving average of $10.83. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of -4.04 and a beta of 0.70. Travere Therapeutics has a 1 year low of $5.12 and a 1 year high of $20.33. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.70) earnings per share for the quarter, topping the consensus estimate of ($0.71) by $0.01. The firm had revenue of $62.90 million for the quarter, compared to analysts’ expectations of $60.87 million. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 537.74%. The company’s quarterly revenue was up 69.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.17) EPS. On average, sell-side analysts anticipate that Travere Therapeutics will post -3.93 earnings per share for the current fiscal year.

Insider Activity at Travere Therapeutics

In related news, Director Gary A. Lyons sold 40,000 shares of the firm’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $14.73, for a total value of $589,200.00. Following the completion of the sale, the director now directly owns 51,000 shares in the company, valued at approximately $751,230. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Travere Therapeutics news, insider Jula Inrig sold 2,191 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $25,240.32. Following the completion of the sale, the insider now directly owns 62,633 shares in the company, valued at $721,532.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gary A. Lyons sold 40,000 shares of the stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $14.73, for a total transaction of $589,200.00. Following the completion of the transaction, the director now directly owns 51,000 shares of the company’s stock, valued at approximately $751,230. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 110,707 shares of company stock valued at $1,504,312. 3.75% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. EntryPoint Capital LLC bought a new stake in shares of Travere Therapeutics in the 1st quarter valued at $32,000. CWM LLC grew its holdings in Travere Therapeutics by 158.5% during the 3rd quarter. CWM LLC now owns 4,999 shares of the company’s stock worth $70,000 after acquiring an additional 3,065 shares during the period. DRW Securities LLC bought a new position in shares of Travere Therapeutics in the 2nd quarter worth about $95,000. Forefront Analytics LLC lifted its stake in shares of Travere Therapeutics by 10.2% in the 2nd quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock valued at $109,000 after purchasing an additional 1,237 shares during the period. Finally, Sei Investments Co. bought a new stake in Travere Therapeutics in the second quarter worth approximately $117,000.

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.