Travere Therapeutics (NASDAQ:TVTX) Price Target Cut to $32.00 by Analysts at Citigroup

Travere Therapeutics (NASDAQ:TVTX - Free Report) had its price target reduced by Citigroup from $35.00 to $32.00 in a research report report published on Wednesday, Marketbeat Ratings reports. They currently have a buy rating on the stock.

Other equities analysts have also recently issued research reports about the company. Cantor Fitzgerald reiterated an "overweight" rating on shares of Travere Therapeutics in a research note on Wednesday, April 23rd. Scotiabank reiterated an "outperform" rating on shares of Travere Therapeutics in a research note on Friday, April 11th. Canaccord Genuity Group boosted their price target on shares of Travere Therapeutics from $45.00 to $47.00 and gave the stock a "buy" rating in a report on Thursday, April 10th. Wedbush restated an "outperform" rating and issued a $30.00 price objective on shares of Travere Therapeutics in a report on Friday, May 16th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Travere Therapeutics from $42.00 to $44.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $32.14.

Travere Therapeutics Stock Up 1.1%

Shares of NASDAQ TVTX traded up $0.16 during midday trading on Wednesday, hitting $14.68. The company's stock had a trading volume of 753,085 shares, compared to its average volume of 1,596,502. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of -3.58 and a beta of 0.75. The business's fifty day simple moving average is $16.87 and its two-hundred day simple moving average is $18.59. Travere Therapeutics has a 1 year low of $6.80 and a 1 year high of $25.29.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.47) EPS for the quarter, beating the consensus estimate of ($0.55) by $0.08. The company had revenue of $81.73 million during the quarter, compared to analysts' expectations of $77.44 million. Travere Therapeutics had a negative net margin of 137.90% and a negative return on equity of 1,636.87%. The firm's revenue was up 83.3% compared to the same quarter last year. During the same quarter last year, the company posted ($1.76) EPS. On average, equities analysts predict that Travere Therapeutics will post -1.4 EPS for the current year.

Insider Activity at Travere Therapeutics

In other Travere Therapeutics news, CFO Christopher R. Cline sold 1,784 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $21.05, for a total value of $37,553.20. Following the completion of the sale, the chief financial officer now owns 93,126 shares in the company, valued at approximately $1,960,302.30. The trade was a 1.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Peter Heerma sold 1,771 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $21.05, for a total transaction of $37,279.55. Following the transaction, the insider now owns 128,215 shares in the company, valued at approximately $2,698,925.75. This trade represents a 1.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,527 shares of company stock valued at $473,814 over the last ninety days. Insiders own 4.19% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TVTX. GF Fund Management CO. LTD. acquired a new stake in shares of Travere Therapeutics during the fourth quarter worth about $31,000. Sterling Capital Management LLC raised its stake in Travere Therapeutics by 859.8% during the 4th quarter. Sterling Capital Management LLC now owns 2,361 shares of the company's stock valued at $41,000 after acquiring an additional 2,115 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Travere Therapeutics during the 1st quarter worth approximately $62,000. Gen Wealth Partners Inc purchased a new position in shares of Travere Therapeutics in the 4th quarter valued at approximately $73,000. Finally, KBC Group NV purchased a new position in shares of Travere Therapeutics in the 1st quarter valued at approximately $75,000.

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.