Travere Therapeutics (NASDAQ:TVTX) PT Lowered to $19.00 at Citigroup

Travere Therapeutics (NASDAQ:TVTX) had its price target reduced by Citigroup from $23.00 to $19.00 in a research report report published on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

TVTX has been the topic of several other reports. JPMorgan Chase & Co. upped their target price on Travere Therapeutics from $20.00 to $23.00 and gave the stock an overweight rating in a research report on Friday, September 13th. Guggenheim cut their price objective on shares of Travere Therapeutics from $25.00 to $23.00 and set a buy rating on the stock in a research report on Friday. HC Wainwright decreased their target price on shares of Travere Therapeutics from $23.00 to $18.00 and set a buy rating for the company in a research report on Friday. Piper Sandler raised their price target on shares of Travere Therapeutics from $11.00 to $12.00 and gave the company a neutral rating in a report on Friday, August 2nd. Finally, Barclays lifted their price objective on shares of Travere Therapeutics from $12.00 to $14.00 and gave the company an overweight rating in a research note on Friday, August 2nd. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Travere Therapeutics currently has a consensus rating of Moderate Buy and a consensus price target of $16.82.

Travere Therapeutics Price Performance

NASDAQ TVTX opened at $14.01 on Friday. 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 firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of -6.67 and a beta of 0.71. The company has a 50 day simple moving average of $10.66 and a 200-day simple moving average of $8.45. Travere Therapeutics has a 52-week low of $5.12 and a 52-week high of $15.36.

Travere Therapeutics (NASDAQ:TVTX) last released its earnings results on Thursday, August 1st. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.03). Travere Therapeutics had a negative return on equity of 269.18% and a negative net margin of 82.14%. The company had revenue of $54.12 million during the quarter, compared to analysts’ expectations of $49.50 million. Equities research analysts predict that Travere Therapeutics will post -3.95 earnings per share for the current fiscal year.

Insider Transactions at Travere Therapeutics

In other news, SVP William E. Rote sold 4,387 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $11.52, for a total transaction of $50,538.24. Following the completion of the transaction, the senior vice president now directly owns 84,455 shares in the company, valued at $972,921.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, SVP William E. Rote sold 4,387 shares of the business’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 $50,538.24. Following the transaction, the senior vice president now owns 84,455 shares in the company, valued at approximately $972,921.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Christopher R. Cline sold 2,490 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 $28,684.80. Following the transaction, the chief financial officer now directly owns 74,595 shares of the company’s stock, valued at approximately $859,334.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,707 shares of company stock worth $352,712. Company insiders own 3.75% of the company’s stock.

Institutional Trading of Travere Therapeutics

Institutional investors have recently modified their holdings of the company. Forefront Analytics LLC boosted its position in shares of Travere Therapeutics by 10.2% during the 2nd quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock valued at $109,000 after acquiring an additional 1,237 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of Travere Therapeutics by 9.2% in the 1st quarter. ProShare Advisors LLC now owns 18,421 shares of the company’s stock valued at $142,000 after purchasing an additional 1,557 shares during the period. Rice Hall James & Associates LLC raised its holdings in shares of Travere Therapeutics by 3.8% in the 2nd quarter. Rice Hall James & Associates LLC now owns 76,174 shares of the company’s stock worth $626,000 after buying an additional 2,774 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Travere Therapeutics by 10.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,009 shares of the company’s stock worth $240,000 after buying an additional 2,948 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Travere Therapeutics by 8.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,178 shares of the company’s stock valued at $387,000 after buying an additional 3,754 shares in the last quarter.

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.