Travere Therapeutics (NASDAQ:TVTX) PT Raised to $18.00

Travere Therapeutics (NASDAQ:TVTX - Free Report) had its price target upped by Canaccord Genuity Group from $15.00 to $18.00 in a research note released on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research analysts have also recently issued reports on the company. Wedbush reissued an outperform rating and issued a $13.00 price target on shares of Travere Therapeutics in a research note on Wednesday, April 17th. Guggenheim reaffirmed a neutral rating on shares of Travere Therapeutics in a research note on Wednesday, March 27th. HC Wainwright raised their target price on Travere Therapeutics from $17.00 to $19.00 and gave the company a buy rating in a research note on Wednesday, April 24th. Wells Fargo & Company raised their target price on Travere Therapeutics from $8.00 to $9.00 and gave the company an equal weight rating in a research note on Friday, February 16th. Finally, Piper Sandler raised their target price on Travere Therapeutics from $10.00 to $11.00 and gave the company a neutral rating in a research note on Thursday, January 18th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, Travere Therapeutics presently has an average rating of Moderate Buy and a consensus target price of $16.69.

Travere Therapeutics Stock Performance

Shares of NASDAQ:TVTX traded up $0.20 on Tuesday, hitting $6.75. The company's stock had a trading volume of 1,938,134 shares, compared to its average volume of 1,282,855. Travere Therapeutics has a 12 month low of $5.12 and a 12 month high of $19.54. The company has a market capitalization of $513.74 million, a price-to-earnings ratio of -4.19 and a beta of 0.69. The stock's 50-day moving average is $7.04 and its two-hundred day moving average is $7.61. The company has a debt-to-equity ratio of 1.88, a quick ratio of 3.41 and a current ratio of 3.47.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last released its quarterly earnings results on Monday, May 6th. The company reported ($1.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.98) by ($0.78). Travere Therapeutics had a negative return on equity of 177.97% and a negative net margin of 56.02%. The business had revenue of $41.40 million during the quarter, compared to the consensus estimate of $43.46 million. During the same period in the previous year, the company posted ($1.27) EPS. The company's revenue for the quarter was up 34.0% compared to the same quarter last year. On average, equities research analysts forecast that Travere Therapeutics will post -3.1 EPS for the current year.

Institutional Investors Weigh In On Travere Therapeutics

Hedge funds have recently bought and sold shares of the business. Signaturefd LLC lifted its stake in Travere Therapeutics by 1,656.4% in the 4th quarter. Signaturefd LLC now owns 3,021 shares of the company's stock worth $27,000 after acquiring an additional 2,849 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Travere Therapeutics by 968.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 5,650 shares of the company's stock worth $51,000 after purchasing an additional 5,121 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of Travere Therapeutics by 353.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,690 shares of the company's stock worth $78,000 after purchasing an additional 6,773 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Travere Therapeutics during the 4th quarter worth about $137,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Travere Therapeutics by 32.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,511 shares of the company's stock worth $148,000 after purchasing an additional 4,007 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.