Analysts Set Travere Therapeutics, Inc. (NASDAQ:TVTX) Target Price at $14.64

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) have been given an average rating of “Moderate Buy” by the twelve brokerages that are covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $15.27.

TVTX has been the topic of several recent analyst reports. Piper Sandler boosted their price target on Travere Therapeutics from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Barclays boosted their target price on shares of Travere Therapeutics from $12.00 to $14.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Wedbush increased their price target on shares of Travere Therapeutics from $13.00 to $16.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. HC Wainwright boosted their price objective on shares of Travere Therapeutics from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Canaccord Genuity Group raised their target price on shares of Travere Therapeutics from $15.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th.

Travere Therapeutics Stock Up 4.3 %

Travere Therapeutics stock opened at $8.90 on Friday. The company has a current ratio of 2.78, a quick ratio of 2.75 and a debt-to-equity ratio of 5.10. Travere Therapeutics has a 1-year low of $5.12 and a 1-year high of $15.90. The company has a fifty day simple moving average of $8.45 and a 200 day simple moving average of $7.74. The company has a market cap of $677.56 million, a P/E ratio of -4.24 and a beta of 0.77.

Travere Therapeutics (NASDAQ:TVTX) last released its earnings results on Monday, May 6th. The company reported ($1.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.98) by ($0.78). Travere Therapeutics had a negative net margin of 82.14% and a negative return on equity of 207.40%. The company had revenue of $41.40 million during the quarter, compared to analyst estimates of $43.46 million. During the same period in the prior year, the firm posted ($1.27) EPS. Travere Therapeutics’s revenue was up 34.0% compared to the same quarter last year. Research analysts anticipate that Travere Therapeutics will post -3.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Travere Therapeutics

Large investors have recently made changes to their positions in the company. Quest Partners LLC grew its stake in shares of Travere Therapeutics by 240.6% in the second quarter. Quest Partners LLC now owns 14,336 shares of the company’s stock valued at $118,000 after acquiring an additional 10,127 shares in the last quarter. Acadian Asset Management LLC grew its position in shares of Travere Therapeutics by 202.6% during the 2nd quarter. Acadian Asset Management LLC now owns 144,901 shares of the company’s stock worth $1,190,000 after purchasing an additional 97,020 shares in the last quarter. Rhumbline Advisers grew its position in shares of Travere Therapeutics by 17.4% during the 2nd quarter. Rhumbline Advisers now owns 125,660 shares of the company’s stock worth $1,033,000 after purchasing an additional 18,645 shares in the last quarter. Panagora Asset Management Inc. bought a new position in shares of Travere Therapeutics during the second quarter worth approximately $747,000. Finally, Bank of New York Mellon Corp raised its position in shares of Travere Therapeutics by 18.3% in the second quarter. Bank of New York Mellon Corp now owns 264,816 shares of the company’s stock valued at $2,177,000 after buying an additional 41,048 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.