Travere Therapeutics (NASDAQ:TVTX) PT Lowered to $23.00

Travere Therapeutics (NASDAQ:TVTX) had its price target reduced by Guggenheim from $25.00 to $23.00 in a research note released on Friday morning, Benzinga reports. Guggenheim currently has a buy rating on the stock.

Several other equities analysts have also issued reports on the company. Bank of America decreased their price target on Travere Therapeutics from $19.00 to $18.00 and set a buy rating on the stock in a research note on Friday. 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. Citigroup raised their price objective on Travere Therapeutics from $14.00 to $23.00 and gave the company a buy rating in a report on Friday, September 6th. Barclays raised their price objective on Travere Therapeutics from $12.00 to $14.00 and gave the company an overweight rating in a report on Friday, August 2nd. Finally, Piper Sandler raised their price objective on Travere Therapeutics from $11.00 to $12.00 and gave the company a neutral rating in a report on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Travere Therapeutics has an average rating of Moderate Buy and an average target price of $16.73.

Travere Therapeutics Trading Down 0.1 %

Shares of TVTX opened at $13.99 on Friday. Travere Therapeutics has a 52-week low of $5.12 and a 52-week high of $15.36. The business’s fifty day moving average is $10.74 and its 200-day moving average is $8.49. 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 $1.07 billion, a price-to-earnings ratio of -6.66 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 -3.95 EPS for the current fiscal year.

Insiders Place Their Bets

In other Travere Therapeutics news, CEO Eric M. Dube sold 21,125 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 transaction of $243,360.00. Following the transaction, the chief executive officer now directly owns 361,975 shares of the company’s stock, valued at approximately $4,169,952. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Eric M. Dube sold 21,125 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 $243,360.00. Following the transaction, the chief executive officer now directly owns 361,975 shares of the company’s stock, valued at approximately $4,169,952. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction, the insider now directly owns 62,633 shares in the company, valued at $721,532.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 70,707 shares of company stock valued at $915,112. 3.75% of the stock is currently owned by company insiders.

Institutional Trading of Travere Therapeutics

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. ProShare Advisors LLC increased its holdings in Travere Therapeutics by 9.2% during the 1st quarter. ProShare Advisors LLC now owns 18,421 shares of the company’s stock worth $142,000 after purchasing an additional 1,557 shares in the last quarter. Rice Hall James & Associates LLC increased its holdings in Travere Therapeutics by 3.8% during the 2nd quarter. Rice Hall James & Associates LLC now owns 76,174 shares of the company’s stock worth $626,000 after purchasing an additional 2,774 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Travere Therapeutics by 10.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,009 shares of the company’s stock worth $240,000 after purchasing an additional 2,948 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Travere Therapeutics by 8.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,178 shares of the company’s stock worth $387,000 after purchasing an additional 3,754 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.