Travere Therapeutics, Inc. (NASDAQ:TVTX) Receives $32.21 Consensus Price Target from Analysts

Key Points

• Travere Therapeutics, Inc. has received a consensus rating of "Moderate Buy" from fifteen analysts, with thirteen issuing buy ratings and two holds.
• The average twelve-month target price for the stock is approximately $32.21, with notable analysts like Guggenheim targeting $47.00 and Wedbush increasing their target to $32.00.
• Institutional investors have significantly increased their holdings in Travere Therapeutics, with Driehaus Capital Management raising its position by 608.1% in the last quarter.

Travere Therapeutics, Inc. (NASDAQ:TVTX - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the fifteen analysts that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $32.2143.

Several analysts recently issued reports on TVTX shares. Stifel Nicolaus increased their target price on Travere Therapeutics from $22.00 to $23.00 and gave the stock a "hold" rating in a research report on Friday, May 2nd. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Travere Therapeutics in a research note on Wednesday, April 23rd. Wedbush raised their price objective on Travere Therapeutics from $30.00 to $32.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Citigroup reiterated a "buy" rating on shares of Travere Therapeutics in a report on Sunday. Finally, Scotiabank restated an "outperform" rating on shares of Travere Therapeutics in a report on Thursday, August 7th.

Hedge Funds Weigh In On Travere Therapeutics

A number of large investors have recently bought and sold shares of TVTX. GF Fund Management CO. LTD. purchased a new stake in Travere Therapeutics during the 4th quarter worth approximately $31,000. Raymond James Financial Inc. purchased a new stake in Travere Therapeutics during the 2nd quarter worth approximately $33,000. Sterling Capital Management LLC increased 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 worth $41,000 after buying an additional 2,115 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Travere Therapeutics during the 1st quarter worth approximately $62,000. Finally, Gen Wealth Partners Inc purchased a new stake in Travere Therapeutics during the 4th quarter worth approximately $73,000.

Travere Therapeutics Stock Up 1.3%

NASDAQ:TVTX traded up $0.24 during trading hours on Tuesday, reaching $18.47. 183,300 shares of the company traded hands, compared to its average volume of 1,639,276. Travere Therapeutics has a 1 year low of $8.46 and a 1 year high of $25.29. The business's 50-day moving average price is $15.66 and its two-hundred day moving average price is $17.73. The company has a current ratio of 2.00, a quick ratio of 1.98 and a debt-to-equity ratio of 9.50. The stock has a market capitalization of $1.65 billion, a P/E ratio of -8.98 and a beta of 0.74.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($0.14) earnings per share for the quarter, beating analysts' consensus estimates of ($0.28) by $0.14. The company had revenue of $94.84 million for the quarter, compared to the consensus estimate of $100.18 million. Travere Therapeutics had a negative return on equity of 717.68% and a negative net margin of 50.64%. Travere Therapeutics's revenue was up 111.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.65) earnings per share. Analysts predict that Travere Therapeutics will post -1.4 earnings per share for the current year.

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.