Travere Therapeutics (NASDAQ:TVTX) Price Target Raised to $35.00

Travere Therapeutics (NASDAQ:TVTX) had its price objective hoisted by Wells Fargo & Company from $27.00 to $35.00 in a research note published on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other analysts also recently issued reports on the stock. Wall Street Zen raised shares of Travere Therapeutics from a “hold” rating to a “buy” rating in a report on Monday, September 1st. Citigroup reissued a “buy” rating on shares of Travere Therapeutics in a report on Sunday, August 10th. HC Wainwright reissued a “buy” rating and set a $47.00 price target on shares of Travere Therapeutics in a report on Wednesday. Jefferies Financial Group set a $35.00 price target on shares of Travere Therapeutics in a report on Wednesday. Finally, Wedbush increased their price target on shares of Travere Therapeutics from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Thirteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $34.20.

Travere Therapeutics Stock Down 6.1%

TVTX stock opened at $23.47 on Thursday. The firm’s fifty day simple moving average is $17.72 and its 200-day simple moving average is $17.38. The company has a market capitalization of $2.09 billion, a P/E ratio of -11.50 and a beta of 0.79. The company has a debt-to-equity ratio of 9.50, a current ratio of 2.00 and a quick ratio of 1.98. Travere Therapeutics has a 12 month low of $12.57 and a 12 month high of $28.69.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.14. The business had revenue of $94.84 million for the quarter, compared to the consensus estimate of $100.18 million. Travere Therapeutics had a negative net margin of 50.64% and a negative return on equity of 717.68%. The business’s revenue for the quarter was up 111.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.65) EPS. As a group, equities research analysts forecast that Travere Therapeutics will post -1.4 earnings per share for the current year.

Hedge Funds Weigh In On Travere Therapeutics

Large investors have recently added to or reduced their stakes in the stock. GF Fund Management CO. LTD. acquired a new position in Travere Therapeutics during the fourth quarter worth $31,000. Raymond James Financial Inc. acquired a new stake in shares of Travere Therapeutics in the second quarter valued at about $33,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Travere Therapeutics in the first quarter valued at about $62,000. KBC Group NV acquired a new stake in shares of Travere Therapeutics in the first quarter valued at about $75,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Travere Therapeutics in the second quarter valued at about $73,000.

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.