Travere Therapeutics (NASDAQ:TVTX) Given New $19.00 Price Target at Bank of America

Travere Therapeutics (NASDAQ:TVTX) had its target price upped by Bank of America from $18.00 to $19.00 in a research report released on Friday morning, Benzinga reports. Bank of America currently has a buy rating on the stock.

Several other equities research analysts also recently weighed in on TVTX. Wedbush raised their price objective on Travere Therapeutics from $13.00 to $16.00 and gave the company an outperform rating in a report on Friday, August 2nd. JPMorgan Chase & Co. lifted their target price on Travere Therapeutics from $19.00 to $20.00 and gave the stock an overweight rating in a report on Tuesday, August 13th. HC Wainwright lifted their target price on Travere Therapeutics from $20.00 to $23.00 and gave the stock a buy rating in a report on Friday. Barclays lifted their target price on Travere Therapeutics from $12.00 to $14.00 and gave the stock an overweight rating in a report on Friday, August 2nd. Finally, Piper Sandler lifted their target price on Travere Therapeutics from $11.00 to $12.00 and gave the stock a neutral rating in a report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $16.92.

Travere Therapeutics Trading Up 17.1 %

Shares of TVTX opened at $12.86 on Friday. Travere Therapeutics has a 52-week low of $5.12 and a 52-week high of $14.62. The business’s fifty day moving average is $9.30 and its 200-day moving average is $7.86. The company has a debt-to-equity ratio of 24.96, a quick ratio of 2.99 and a current ratio of 3.04. The firm has a market cap of $979.02 million, a price-to-earnings ratio of -6.12 and a beta of 0.71.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.87) by ($0.03). Travere Therapeutics had a negative net margin of 82.14% and a negative return on equity of 269.18%. The business had revenue of $54.12 million during the quarter, compared to the consensus estimate of $49.50 million. Equities analysts anticipate that Travere Therapeutics will post -3.96 EPS for the current fiscal year.

Insider Transactions at Travere Therapeutics

In other news, SVP William E. Rote sold 4,387 shares of Travere Therapeutics stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $11.52, for a total value of $50,538.24. Following the completion of the transaction, the senior vice president now directly owns 84,455 shares of the company’s stock, valued at approximately $972,921.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, SVP William E. Rote sold 4,387 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $11.52, for a total value of $50,538.24. Following the completion of the sale, the senior vice president now directly owns 84,455 shares of the company’s stock, valued at approximately $972,921.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jula Inrig sold 2,191 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $25,240.32. Following the completion of the sale, the insider now directly owns 62,633 shares of the company’s stock, valued at $721,532.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,707 shares of company stock valued at $352,712. Corporate insiders own 3.75% of the company’s stock.

Institutional Trading of Travere Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Forefront Analytics LLC increased its holdings in Travere Therapeutics by 10.2% during the 2nd quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock worth $109,000 after purchasing an additional 1,237 shares in the last quarter. Millennium Management LLC increased its holdings in Travere Therapeutics by 33.9% during the 2nd quarter. Millennium Management LLC now owns 2,949,335 shares of the company’s stock worth $24,244,000 after purchasing an additional 747,406 shares in the last quarter. AQR Capital Management LLC increased its holdings in Travere Therapeutics by 55.7% during the 2nd quarter. AQR Capital Management LLC now owns 74,069 shares of the company’s stock worth $609,000 after purchasing an additional 26,485 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Travere Therapeutics during the 2nd quarter worth approximately $291,000. Finally, Point72 DIFC Ltd bought a new stake in Travere Therapeutics during the 2nd quarter worth approximately $175,000.

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.