Analysts Set Travere Therapeutics, Inc. (NASDAQ:TVTX) Target Price at $61.67

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) have received a consensus recommendation of “Moderate Buy” from the thirteen analysts that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $61.6667.

A number of analysts have recently issued reports on TVTX shares. HC Wainwright boosted their price objective on Travere Therapeutics from $57.00 to $67.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. Weiss Ratings cut Travere Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 23rd. Wedbush upped their price target on Travere Therapeutics from $61.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Evercore set a $78.00 price target on Travere Therapeutics in a report on Monday, August 10th. Finally, Guggenheim lifted their price objective on Travere Therapeutics from $65.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th.

Travere Therapeutics Trading Down 2.7%

Shares of TVTX stock opened at $65.67 on Friday. Travere Therapeutics has a 1 year low of $17.27 and a 1 year high of $67.85. The firm’s fifty day simple moving average is $59.34 and its 200 day simple moving average is $44.84. The firm has a market capitalization of $6.19 billion, a P/E ratio of -142.76 and a beta of 1.12. The company has a current ratio of 4.05, a quick ratio of 3.99 and a debt-to-equity ratio of 24.58.

Travere Therapeutics (NASDAQ:TVTX) last released its earnings results on Tuesday, August 4th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.03. Travere Therapeutics had a negative net margin of 7.35% and a negative return on equity of 55.15%. The firm had revenue of $169.58 million during the quarter, compared to analysts’ expectations of $157.27 million. During the same period in the prior year, the company earned $0.13 EPS. The business’s quarterly revenue was up 48.2% compared to the same quarter last year. As a group, sell-side analysts predict that Travere Therapeutics will post -0.56 EPS for the current year.

Insider Activity

In related news, Director Timothy Coughlin sold 10,000 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $50.07, for a total value of $500,700.00. Following the transaction, the director directly owned 56,250 shares in the company, valued at $2,816,437.50. This represents a 15.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Roy D. Baynes sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $50.00, for a total transaction of $225,000.00. Following the completion of the transaction, the director directly owned 41,500 shares in the company, valued at approximately $2,075,000. The trade was a 9.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.44% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. GAMMA Investing LLC grew its stake in shares of Travere Therapeutics by 53.4% during the second quarter. GAMMA Investing LLC now owns 606 shares of the company’s stock worth $34,000 after purchasing an additional 211 shares during the period. Allworth Financial LP acquired a new position in Travere Therapeutics in the second quarter valued at about $47,000. State of Wyoming acquired a new position in Travere Therapeutics in the fourth quarter valued at about $37,000. Torren Management LLC bought a new position in Travere Therapeutics during the fourth quarter worth about $38,000. Finally, Comerica Bank boosted its holdings in Travere Therapeutics by 77.5% during the fourth quarter. Comerica Bank now owns 1,127 shares of the company’s stock worth $43,000 after buying an additional 492 shares during the last quarter.

Travere Therapeutics Company Profile

Travere Therapeutics, Inc (NASDAQ: TVTX) is a biopharmaceutical company headquartered in San Diego, California, dedicated to the development and commercialization of therapies for rare kidney and genetic disorders. The company’s mission is to address unmet needs in conditions with limited treatment options by focusing on diseases that affect small patient populations. Travere combines research, development and commercial capabilities to bring innovative medicines to market.

The company’s lead product is sparsentan, a dual endothelin angiotensin receptor antagonist that has received accelerated approval from the U.S.