Travere Therapeutics (NASDAQ:TVTX) Given New $31.00 Price Target at Scotiabank

Key Points

• Scotiabank increased the price target for Travere Therapeutics from $30.00 to $31.00, indicating a potential upside of 83.39% based on the stock's previous close.
• Multiple brokerages have issued varied price targets and ratings on the stock, with an average target price of $32.21 and a consensus rating of "Moderate Buy."
• Travere Therapeutics is currently trading at approximately $16.90, having seen a decline of 1.9% in its recent trading session.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) had its price target upped by investment analysts at Scotiabank from $30.00 to $31.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a "sector outperform" rating on the stock. Scotiabank's price objective suggests a potential upside of 83.39% from the company's previous close.

A number of other brokerages have also weighed in on TVTX. Citigroup cut their price target on shares of Travere Therapeutics from $35.00 to $32.00 and set a "buy" rating on the stock in a research note on Wednesday, June 11th. Stifel Nicolaus upped their price target on Travere Therapeutics from $22.00 to $23.00 and gave the company a "hold" rating in a research report on Friday, May 2nd. HC Wainwright reaffirmed a "buy" rating and issued a $30.00 price target on shares of Travere Therapeutics in a research report on Tuesday, July 1st. Guggenheim restated a "buy" rating and issued a $47.00 price target on shares of Travere Therapeutics in a research note on Monday, April 14th. Finally, Canaccord Genuity Group raised their price target on shares of Travere Therapeutics from $45.00 to $47.00 and gave the company a "buy" rating in a report on Thursday, April 10th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, Travere Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $32.21.

Travere Therapeutics Trading Down 1.9%

NASDAQ TVTX traded down $0.34 during mid-day trading on Thursday, reaching $16.90. 3,031,361 shares of the stock were exchanged, compared to its average volume of 1,645,314. The company has a debt-to-equity ratio of 9.46, a quick ratio of 2.03 and a current ratio of 2.05. The stock has a market capitalization of $1.50 billion, a PE ratio of -6.00 and a beta of 0.74. The business's fifty day simple moving average is $15.39 and its 200 day simple moving average is $17.82. Travere Therapeutics has a 1-year low of $8.09 and a 1-year high of $25.29.

Institutional Trading of Travere Therapeutics

Institutional investors have recently modified their holdings of the company. GF Fund Management CO. LTD. purchased a new position in Travere Therapeutics in the fourth quarter worth $31,000. Sterling Capital Management LLC increased its stake in shares of Travere Therapeutics by 859.8% in the 4th quarter. Sterling Capital Management LLC now owns 2,361 shares of the company's stock valued at $41,000 after buying an additional 2,115 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in Travere Therapeutics during the first quarter worth about $62,000. Gen Wealth Partners Inc acquired a new position in Travere Therapeutics during the fourth quarter worth approximately $73,000. Finally, KBC Group NV acquired a new stake in Travere Therapeutics during the first quarter worth approximately $75,000.

Travere Therapeutics Company Profile

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.

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