Travere Therapeutics (NASDAQ:TVTX) Given New $45.00 Price Target at Evercore ISI

Travere Therapeutics (NASDAQ:TVTX) had its price objective raised by Evercore ISI from $33.00 to $45.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Evercore ISI’s price objective indicates a potential upside of 86.07% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. Cantor Fitzgerald assumed coverage on shares of Travere Therapeutics in a research note on Friday, January 10th. They set an “overweight” rating on the stock. Piper Sandler lifted their target price on Travere Therapeutics from $12.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. HC Wainwright boosted their price target on Travere Therapeutics from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Barclays raised their price objective on Travere Therapeutics from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, Canaccord Genuity Group boosted their target price on Travere Therapeutics from $22.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Travere Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $27.38.

Travere Therapeutics Stock Up 1.8 %

TVTX opened at $24.19 on Wednesday. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of -5.28 and a beta of 0.72. Travere Therapeutics has a 12 month low of $5.12 and a 12 month high of $25.29. 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 business has a 50-day moving average of $18.98 and a two-hundred day moving average of $15.90.

Insider Activity at Travere Therapeutics

In other news, insider Jula Inrig sold 2,066 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $19.10, for a total transaction 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 completion of the sale, the senior vice president now owns 83,170 shares of the company’s stock, valued at approximately $1,618,488.20. This trade represents a 2.85 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 144,532 shares of company stock valued at $2,845,498. Corporate insiders own 4.06% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. R Squared Ltd acquired a new stake in shares of Travere Therapeutics during the fourth quarter worth $53,000. CWM LLC raised its stake in Travere Therapeutics by 158.5% during the third 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. Quarry LP bought a new position in Travere Therapeutics in the third quarter worth about $105,000. Aigen Investment Management LP acquired a new position in Travere Therapeutics in the third quarter valued at approximately $170,000. Finally, Victory Capital Management Inc. bought a new position in shares of Travere Therapeutics during the fourth quarter valued at approximately $182,000.

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.