Travere Therapeutics (NASDAQ:TVTX) Given New $45.00 Price Target at SVB Leerink

Travere Therapeutics (NASDAQ:TVTXGet Rating) had its price target boosted by SVB Leerink from $42.00 to $45.00 in a research report report published on Friday, Marketbeat.com reports. They currently have an outperform rating on the stock.

Several other equities analysts have also recently issued reports on the company. Piper Sandler boosted their target price on Travere Therapeutics from $40.00 to $41.00 and gave the company an overweight rating in a research note on Tuesday, July 26th. Canaccord Genuity Group reissued a buy rating and set a $42.00 target price on shares of Travere Therapeutics in a research note on Thursday, July 14th. Finally, HC Wainwright boosted their target price on Travere Therapeutics from $45.00 to $46.00 and gave the company a buy rating in a research note on Tuesday, May 17th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of Buy and an average target price of $42.67.

Travere Therapeutics Trading Up 7.9 %

NASDAQ:TVTX opened at $27.83 on Friday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 5.23 and a current ratio of 5.28. Travere Therapeutics has a 1-year low of $13.75 and a 1-year high of $31.65. The business has a 50 day moving average of $24.17 and a 200 day moving average of $25.43.

Travere Therapeutics (NASDAQ:TVTXGet Rating) last announced its quarterly earnings data on Thursday, May 5th. The company reported ($1.20) earnings per share for the quarter, missing the consensus estimate of ($0.85) by ($0.35). Travere Therapeutics had a negative net margin of 100.92% and a negative return on equity of 84.47%. The company had revenue of $48.49 million during the quarter, compared to the consensus estimate of $51.92 million. During the same quarter in the previous year, the firm posted ($0.96) EPS. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, research analysts anticipate that Travere Therapeutics will post -3.94 earnings per share for the current fiscal year.

Insider Transactions at Travere Therapeutics

In other news, Director Steve Aselage sold 2,575 shares of the stock in a transaction on Wednesday, May 11th. The stock was sold at an average price of $21.92, for a total value of $56,444.00. Following the sale, the director now directly owns 146,919 shares of the company’s stock, valued at $3,220,464.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Steve Aselage sold 2,575 shares of the company’s stock in a transaction on Wednesday, May 11th. The stock was sold at an average price of $21.92, for a total transaction of $56,444.00. Following the transaction, the director now directly owns 146,919 shares of the company’s stock, valued at $3,220,464.48. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP William E. Rote sold 1,563 shares of the company’s stock in a transaction on Wednesday, May 11th. The shares were sold at an average price of $21.71, for a total value of $33,932.73. Following the transaction, the senior vice president now directly owns 43,672 shares in the company, valued at $948,119.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,399 shares of company stock valued at $117,501. Insiders own 4.71% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. US Bancorp DE lifted its holdings in shares of Travere Therapeutics by 1,372.3% during the first quarter. US Bancorp DE now owns 1,487 shares of the company’s stock valued at $38,000 after purchasing an additional 1,386 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in Travere Therapeutics by 50.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,860 shares of the company’s stock valued at $134,000 after acquiring an additional 1,640 shares during the period. Point72 Hong Kong Ltd lifted its holdings in Travere Therapeutics by 2,540.3% in the first quarter. Point72 Hong Kong Ltd now owns 5,439 shares of the company’s stock valued at $140,000 after acquiring an additional 5,233 shares during the period. E Fund Management Co. Ltd. bought a new position in Travere Therapeutics in the first quarter valued at about $205,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in Travere Therapeutics in the fourth quarter valued at about $227,000.

About Travere Therapeutics

(Get Rating)

Travere Therapeutics, Inc, a biopharmaceutical company, focuses on the identification, development, commercialization, and delivering of therapies for the treatment of rare diseases. Its marketed products include Chenodal, a synthetic oral form of chenodeoxycholic acid for the treatment of radiolucent stones in gallbladders; Cholbam, a cholic acid capsule to treat pediatric and adult patients with bile acid synthesis disorders due to single enzyme defects, as well as for adjunctive treatment of patients with peroxisomal disorders; and Thiola and Thiola EC, a tiopronin tablet for the treatment of homozygous cystinuria.

Further Reading

Analyst Recommendations for Travere Therapeutics (NASDAQ:TVTX)

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