Travere Therapeutics (NASDAQ:TVTX) PT Lowered to $22.00

Travere Therapeutics (NASDAQ:TVTX) had its target price reduced by investment analysts at Canaccord Genuity Group from $23.00 to $22.00 in a report released on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 57.26% from the company’s current price.

A number of other research analysts have also commented on TVTX. Bank of America reduced their price target on shares of Travere Therapeutics from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, September 27th. Guggenheim decreased their target price on Travere Therapeutics from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Friday, September 27th. Wedbush raised their price target on Travere Therapeutics from $13.00 to $16.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Citigroup cut their price objective on Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating for the company in a report on Friday, September 27th. Finally, HC Wainwright cut their price target on shares of Travere Therapeutics from $23.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, September 27th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.09.

Travere Therapeutics Price Performance

Shares of NASDAQ TVTX opened at $13.99 on Monday. Travere Therapeutics has a 1-year low of $5.12 and a 1-year high of $15.36. The company has a debt-to-equity ratio of 24.96, a current ratio of 3.04 and a quick ratio of 2.99. The stock has a fifty day simple moving average of $10.83 and a two-hundred day simple moving average of $8.54.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $49.50 million. Sell-side analysts expect that Travere Therapeutics will post -3.95 EPS for the current fiscal year.

Insider Activity

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 completion of the sale, the chief executive officer now owns 361,975 shares of the company’s stock, valued at approximately $4,169,952. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Eric M. Dube sold 21,125 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $11.52, for a total transaction of $243,360.00. Following the completion of the transaction, the chief executive officer now directly owns 361,975 shares of the company’s stock, valued at $4,169,952. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP William E. Rote sold 4,387 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $50,538.24. Following the sale, the senior vice president now owns 84,455 shares of the company’s stock, valued at $972,921.60. The disclosure for this sale can be found here. Over 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 insiders.

Institutional Investors Weigh In On Travere Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of TVTX. EntryPoint Capital LLC purchased a new stake in Travere Therapeutics in the first quarter worth about $32,000. DRW Securities LLC purchased a new position in shares of Travere Therapeutics in the 2nd quarter valued at approximately $95,000. Forefront Analytics LLC boosted its position in shares of Travere Therapeutics by 10.2% during the second quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock valued at $109,000 after purchasing an additional 1,237 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its position in Travere Therapeutics by 68.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 14,652 shares of the company’s stock valued at $113,000 after buying an additional 5,962 shares during the period. Finally, Sei Investments Co. purchased a new stake in shares of Travere Therapeutics in the 2nd quarter worth about $117,000.

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.