Travere Therapeutics, Inc. (NASDAQ:TVTX) Stock Has Consensus Target Price of $68.60

Key Points

• Analyst sentiment is broadly positive: 10 of 12 covering brokerages rate Travere Therapeutics a Buy, while two rate it a Sell, for a consensus “Moderate Buy” and average 12-month price target of $68.60.
• Quarterly results were mixed: Revenue rose 36.2% year over year to $224.56 million, topping expectations, but the company’s $0.55-per-share loss was significantly wider than analysts’ forecast.
• Insiders have been selling shares: Company executives sold a combined 1.29 million shares worth about $79.5 million over 90 days; the disclosed sales were made under pre-arranged trading plans.

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) have earned an average recommendation of "Moderate Buy" from the twelve brokerages that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation and ten have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $68.60.

Several equities analysts recently commented on TVTX shares. Citigroup increased their price objective on shares of Travere Therapeutics from $70.00 to $85.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. Weiss Ratings reissued a "sell (e+)" rating on shares of Travere Therapeutics in a research report on Friday, September 18th. HC Wainwright restated a "buy" rating and set a $67.00 price target on shares of Travere Therapeutics in a research note on Tuesday, September 22nd. Wedbush reaffirmed an "outperform" rating and issued a $76.00 price target on shares of Travere Therapeutics in a report on Tuesday, September 22nd. Finally, Piper Sandler reiterated an "overweight" rating on shares of Travere Therapeutics in a research note on Monday, August 17th.

Insider Activity

In other Travere Therapeutics news, EVP Peter Heerma sold 8,282 shares of Travere Therapeutics stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $65.07, for a total transaction of $538,909.74. Following the completion of the sale, the executive vice president owned 117,066 shares of the company's stock, valued at approximately $7,617,484.62. The trade was a 6.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jula Inrig sold 44,674 shares of the business's stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $62.34, for a total value of $2,784,977.16. Following the sale, the executive vice president owned 100,491 shares in the company, valued at approximately $6,264,608.94. The trade was a 30.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 1,294,029 shares of company stock valued at $79,454,261. 4.44% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TVTX. GAMMA Investing LLC boosted its holdings in Travere Therapeutics by 53.4% in the second quarter. GAMMA Investing LLC now owns 606 shares of the company's stock valued at $34,000 after purchasing an additional 211 shares during the last quarter. Allworth Financial LP purchased a new position in shares of Travere Therapeutics during the 2nd quarter valued at about $47,000. Fifth Third Bancorp purchased a new position in shares of Travere Therapeutics during the 1st quarter valued at about $35,000. Integrated Wealth Concepts LLC purchased a new position in shares of Travere Therapeutics during the 2nd quarter valued at about $70,000. Finally, Rockefeller Capital Management L.P. raised its stake in shares of Travere Therapeutics by 1,604.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,642 shares of the company's stock valued at $101,000 after buying an additional 2,487 shares during the last quarter.

More Travere Therapeutics News

Here are the key news stories impacting Travere Therapeutics this week:

• Positive Sentiment: Canaccord Genuity raised its price target to $72 from $70 and reiterated a Buy rating, signaling continued confidence in the stock’s potential. Canaccord Genuity recommendations
• Neutral Sentiment: Guggenheim lowered its target to $78 from $89 but maintained a Buy rating, leaving its outlook positive while reflecting a more cautious valuation. Guggenheim recommendations
• Neutral Sentiment: A recent technical analysis noted TVTX rebounded after reaching its 200-day moving average, a level investors may view as support. Travere’s 200-day moving average reversal
• Negative Sentiment: Travere’s third-quarter results showed a loss, despite higher revenue, adding a fundamental concern alongside analyst optimism. Travere Q3 results

Travere Therapeutics Trading Up 6.1%

Travere Therapeutics stock opened at $52.42 on Thursday. The stock has a 50-day moving average of $58.12 and a two-hundred day moving average of $46.79. The company has a debt-to-equity ratio of 26.72, a quick ratio of 3.99 and a current ratio of 3.00. Travere Therapeutics has a one year low of $22.59 and a one year high of $68.73. The stock has a market cap of $5.03 billion, a PE ratio of -40.64 and a beta of 1.11.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last issued its quarterly earnings results on Monday, November 2nd. The company reported ($0.55) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.49). Travere Therapeutics had a negative return on equity of 185.69% and a negative net margin of 18.66%. The business had revenue of $224.56 million for the quarter, compared to analysts' expectations of $195.29 million. During the same quarter in the previous year, the firm posted $0.28 EPS. Travere Therapeutics's revenue was up 36.2% on a year-over-year basis. On average, research analysts anticipate that Travere Therapeutics will post -0.92 EPS for the current fiscal year.

Travere Therapeutics Company Profile

Travere Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare diseases, with an emphasis on serious kidney conditions. The company's work centers on addressing diseases with limited treatment options and improving outcomes for patients with progressive renal disorders.

Travere's lead commercial product is FILSPARI (sparsentan), an oral treatment for adults with primary immunoglobulin A nephropathy (IgA nephropathy) who are at risk of disease progression.

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