Travere Therapeutics (NASDAQ:TVTX) Given New $56.00 Price Target at Canaccord Genuity Group

Key Points

• Canaccord Genuity raised its price target on Travere to $56 (from $47) and kept a "buy" rating, implying roughly a 35.9% upside
• FDA expanded full approval for FILSPARI (sparsentan) as the first and only approved treatment for FSGS, a major commercial milestone that spurred heavy trading and an intraday rally of about 34.3% to $41.22.
• Insiders have been net sellers recently—312,067 shares (~$9.76M) sold in the past 90 days—including Director Roy D. Baynes' 10,000‑share sale under a Rule 10b5‑1 plan; insiders now own 4.19% of the company.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) had its price target lifted by Canaccord Genuity Group from $47.00 to $56.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Canaccord Genuity Group's price target would indicate a potential upside of 35.86% from the company's previous close.

Several other research analysts have also weighed in on the company. Citigroup reiterated a "buy" rating on shares of Travere Therapeutics in a report on Tuesday. Piper Sandler upped their price objective on Travere Therapeutics from $35.00 to $38.00 and gave the stock a "neutral" rating in a research report on Friday, February 6th. Guggenheim lifted their target price on Travere Therapeutics from $49.00 to $54.00 and gave the company a "buy" rating in a research report on Tuesday. HC Wainwright reissued a "buy" rating and issued a $47.00 target price on shares of Travere Therapeutics in a research report on Tuesday. Finally, Wedbush lifted their target price on Travere Therapeutics from $39.00 to $44.00 and gave the company an "outperform" rating in a research report on Tuesday. Ten research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Travere Therapeutics presently has a consensus rating of "Moderate Buy" and an average target price of $41.17.

Travere Therapeutics Trading Up 34.3%

TVTX stock traded up $10.52 during midday trading on Tuesday, hitting $41.22. 8,714,359 shares of the company's stock were exchanged, compared to its average volume of 2,035,162. The stock's fifty day moving average price is $29.20 and its 200-day moving average price is $31.18. The company has a debt-to-equity ratio of 2.71, a quick ratio of 2.70 and a current ratio of 2.74. The company has a market cap of $3.81 billion, a PE ratio of -136.86 and a beta of 0.86. Travere Therapeutics has a one year low of $13.88 and a one year high of $42.50.

Insider Buying and Selling at Travere Therapeutics

In related news, Director Roy D. Baynes sold 10,000 shares of the company's stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $33.00, for a total transaction of $330,000.00. Following the sale, the director owned 37,500 shares in the company, valued at approximately $1,237,500. This represents a 21.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jula Inrig sold 1,779 shares of the company's stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $32.21, for a total value of $57,301.59. Following the sale, the insider owned 105,706 shares in the company, valued at $3,404,790.26. The trade was a 1.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 312,067 shares of company stock valued at $9,755,570 in the last ninety days. Insiders own 4.19% of the company's stock.

Institutional Trading of Travere Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of TVTX. Arizona State Retirement System raised its stake in Travere Therapeutics by 1.5% in the third quarter. Arizona State Retirement System now owns 24,964 shares of the company's stock valued at $597,000 after buying an additional 375 shares during the period. Smartleaf Asset Management LLC raised its stake in Travere Therapeutics by 69.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the company's stock valued at $45,000 after buying an additional 487 shares during the period. Comerica Bank raised its stake in Travere Therapeutics by 77.5% in the fourth quarter. Comerica Bank now owns 1,127 shares of the company's stock valued at $43,000 after buying an additional 492 shares during the period. ProShare Advisors LLC raised its stake in Travere Therapeutics by 4.1% in the fourth quarter. ProShare Advisors LLC now owns 19,007 shares of the company's stock valued at $726,000 after buying an additional 756 shares during the period. Finally, Diversified Trust Co raised its stake in Travere Therapeutics by 3.5% in the third quarter. Diversified Trust Co now owns 23,695 shares of the company's stock valued at $566,000 after buying an additional 796 shares during the period.

Key Headlines Impacting Travere Therapeutics

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

• Positive Sentiment: FDA granted full/expanded approval of FILSPARI (sparsentan) as the first and only approved medicine for FSGS — a major commercial milestone that directly increases addressable market, revenue potential and removes a key regulatory overhang. Travere Therapeutics Announces Full FDA Approval of FILSPARI (BusinessWire)
• Positive Sentiment: Reuters confirms the FDA expansion, providing broad media distribution of the approval and adding third‑party validation of the regulatory news. US FDA expands approval for Travere Therapeutics' drug for rare kidney disease (Reuters)
• Positive Sentiment: Investors Business Daily and other outlets reported the approval and immediate market reaction, highlighting investor focus on near‑term commercial launch and uptake. Travere Therapeutics Stock Skyrockets On FDA Approval (IBD)
• Positive Sentiment: Guggenheim raised its price target to $54 and kept a buy rating (material upside vs. the pre‑news level), signaling stronger sell‑side expectations for revenue post‑approval. Guggenheim price target raise (The Fly)
• Positive Sentiment: Wedbush increased its target to $44 with an outperform rating, and HC Wainwright reaffirmed a buy and $47 target — multiple analyst upgrades reinforce a bullish view on commercial prospects. Analyst coverage (Benzinga)
• Neutral Sentiment: Unusually large options activity was noted (over 21k call contracts bought), indicating heavy speculative positioning or hedging ahead of/after the approval — increases volatility and liquidity but ambiguous on direction.
• Neutral Sentiment: Trading was temporarily halted for “news pending” ahead of the announcement — a procedural event that typically accompanies material company news and is neither inherently positive nor negative.
• Neutral Sentiment: Company/earnings/transcript coverage is being circulated (transcript of discussion about the approval), which may provide incremental detail on launch timing, pricing and uptake assumptions as it becomes available. Seeking Alpha transcript

Travere Therapeutics Company Profile

Travere Therapeutics, Inc NASDAQ: TVTX is a biopharmaceutical company headquartered in San Diego, California, dedicated to the development and commercialization of therapies for rare kidney and genetic disorders. The company's mission is to address unmet needs in conditions with limited treatment options by focusing on diseases that affect small patient populations. Travere combines research, development and commercial capabilities to bring innovative medicines to market.

The company's lead product is sparsentan, a dual endothelin angiotensin receptor antagonist that has received accelerated approval from the U.S.

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