Travere Therapeutics, Inc. (NASDAQ:TVTX) Stock Has Consensus Price Target of $69.50 According to Analysts

by · The Cerbat Gem

Travere Therapeutics, Inc. (NASDAQ:TVTX – Get Free Report) has received a consensus rating of “Moderate Buy” from the twelve brokerages that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and ten have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $69.50.

Several brokerages have recently commented on TVTX. Wedbush restated an “outperform” rating and set a $76.00 price target on shares of Travere Therapeutics in a research note on Tuesday, September 22nd. Citigroup raised their price target on shares of Travere Therapeutics from $70.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Weiss Ratings restated a “sell (e+)” rating on shares of Travere Therapeutics in a research report on Friday, September 18th. Canaccord Genuity Group increased their target price on shares of Travere Therapeutics from $62.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Finally, Piper Sandler reissued an “overweight” rating on shares of Travere Therapeutics in a research note on Monday, August 17th.

View Our Latest Analysis on Travere Therapeutics

Travere Therapeutics Trading Down 6.0%

TVTX stock opened at $49.60 on Friday. The company has a market capitalization of $4.68 billion, a PE ratio of -107.82 and a beta of 1.13. Travere Therapeutics has a 12 month low of $22.59 and a 12 month high of $68.73. The firm’s 50-day moving average is $61.45 and its 200 day moving average is $52.60. The company has a debt-to-equity ratio of 24.58, a current ratio of 4.05 and a quick ratio of 3.99.

Travere Therapeutics (NASDAQ:TVTX – Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.03. The company had revenue of $169.58 million during the quarter, compared to analyst estimates of $157.27 million. Travere Therapeutics had a negative net margin of 7.35% and a negative return on equity of 55.15%. The firm’s revenue for the quarter was up 48.2% on a year-over-year basis. During the same quarter last year, the business posted $0.13 EPS. On average, research analysts anticipate that Travere Therapeutics will post -0.54 EPS for the current year.

Insider Transactions at Travere Therapeutics

In other Travere Therapeutics news, insider William E. Rote sold 112,850 shares of the firm’s stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $63.33, for a total value of $7,146,790.50. Following the transaction, the insider directly owned 98,197 shares of the company’s stock, valued at $6,218,816.01. This trade represents a 53.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jula Inrig sold 44,674 shares of Travere Therapeutics stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $62.34, for a total value of $2,784,977.16. Following the transaction, the executive vice president owned 100,491 shares in the company, valued at approximately $6,264,608.94. The trade was a 30.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,050,294 shares of company stock worth $66,336,443 in the last quarter. 4.44% of the stock is owned by insiders.

Hedge Funds Weigh In On Travere Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. Assenagon Asset Management S.A. lifted its holdings in Travere Therapeutics by 168.1% in the third quarter. Assenagon Asset Management S.A. now owns 1,145,414 shares of the company’s stock valued at $67,442,000 after acquiring an additional 718,109 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in Travere Therapeutics during the 3rd quarter worth approximately $252,000. Insight Wealth Strategies LLC purchased a new stake in shares of Travere Therapeutics during the third quarter worth $5,692,000. GAMMA Investing LLC increased its holdings in Travere Therapeutics by 115.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,303 shares of the company’s stock worth $77,000 after purchasing an additional 697 shares during the period. Finally, Farther Finance Advisors LLC raised its holdings in Travere Therapeutics by 1,217.6% in the third quarter. Farther Finance Advisors LLC now owns 3,966 shares of the company’s stock valued at $234,000 after acquiring an additional 3,665 shares in the last quarter.

About Travere Therapeutics

(Get Free Report)

Travere Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare kidney and immune-mediated diseases. The company’s work centers on conditions with limited treatment options, including IgA nephropathy (IgAN) and focal segmental glomerulosclerosis (FSGS).

Travere’s lead commercial product is FILSPARI (sparsentan), an oral treatment approved in the United States for certain adults with primary IgAN who are at risk of disease progression.

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