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

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

A number of other research firms have also recently commented on TVTX. Stifel Nicolaus boosted their price target on shares of Travere Therapeutics from $22.00 to $23.00 and gave the stock a "hold" rating in a research note on Friday, May 2nd. Bank of America upped their price objective on shares of Travere Therapeutics from $29.00 to $31.00 and gave the company a "buy" rating in a research note on Tuesday, April 1st. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Travere Therapeutics in a research note on Wednesday, April 23rd. Wedbush reaffirmed an "outperform" rating and issued a $30.00 price objective on shares of Travere Therapeutics in a research note on Friday, May 16th. Finally, Evercore ISI upped their price objective on shares of Travere Therapeutics from $33.00 to $45.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $32.14.

Travere Therapeutics Stock Performance

Shares of NASDAQ TVTX traded down $0.44 during midday trading on Wednesday, hitting $14.50. The company's stock had a trading volume of 1,582,706 shares, compared to its average volume of 1,618,486. The stock has a fifty day moving average price of $16.87 and a 200 day moving average price of $18.53. Travere Therapeutics has a one year low of $6.80 and a one year high of $25.29. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of -3.54 and a beta of 0.75.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.47) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.55) by $0.08. The business had revenue of $81.73 million for the quarter, compared to analysts' expectations of $77.44 million. Travere Therapeutics had a negative return on equity of 1,636.87% and a negative net margin of 137.90%. The firm's quarterly revenue was up 83.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.76) EPS. On average, research analysts forecast that Travere Therapeutics will post -1.4 EPS for the current fiscal year.

Insider Buying and Selling at Travere Therapeutics

In other news, insider Peter Heerma sold 1,771 shares of Travere Therapeutics stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $21.05, for a total value of $37,279.55. Following the sale, the insider now directly owns 128,215 shares of the company's stock, valued at approximately $2,698,925.75. The trade was a 1.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Christopher R. Cline sold 1,784 shares of the business's stock in a transaction dated 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 $1,960,302.30. This represents a 1.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,527 shares of company stock worth $473,814. Insiders own 4.19% of the company's stock.

Institutional Investors Weigh In On Travere Therapeutics

Hedge funds have recently made changes to their positions in the company. Entropy Technologies LP purchased a new stake in shares of Travere Therapeutics in the fourth quarter worth about $214,000. US Bancorp DE lifted its position in shares of Travere Therapeutics by 323.4% in the fourth quarter. US Bancorp DE now owns 31,795 shares of the company's stock worth $554,000 after buying an additional 24,286 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Travere Therapeutics by 11.3% in the 4th quarter. Northern Trust Corp now owns 754,395 shares of the company's stock valued at $13,142,000 after purchasing an additional 76,358 shares during the last quarter. Wellington Management Group LLP purchased a new position in shares of Travere Therapeutics in the 4th quarter worth approximately $583,000. Finally, Swiss National Bank boosted its holdings in shares of Travere Therapeutics by 12.8% in the 4th quarter. Swiss National Bank now owns 151,900 shares of the company's stock worth $2,646,000 after purchasing an additional 17,200 shares during the period.

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.