Travere Therapeutics (NASDAQ:TVTX) Price Target Raised to $23.00 at Stifel Nicolaus

Travere Therapeutics (NASDAQ:TVTX - Free Report) had its price target lifted by Stifel Nicolaus from $22.00 to $23.00 in a research note released on Friday,Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

Several other analysts also recently issued reports on the stock. Bank of America boosted their target price on shares of Travere Therapeutics from $29.00 to $31.00 and gave the company a "buy" rating in a research note on Tuesday, April 1st. JPMorgan Chase & Co. raised their price target on Travere Therapeutics from $42.00 to $44.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Guggenheim reissued a "buy" rating and issued a $47.00 price target on shares of Travere Therapeutics in a research note on Monday, April 14th. Citigroup raised their price objective on shares of Travere Therapeutics from $31.00 to $35.00 and gave the company a "buy" rating in a research report on Monday, February 24th. Finally, Evercore ISI upped their price target on Travere Therapeutics from $33.00 to $45.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Travere Therapeutics has an average rating of "Moderate Buy" and an average price target of $31.79.

Travere Therapeutics Price Performance

NASDAQ:TVTX traded up $0.26 during mid-day trading on Friday, reaching $21.41. 2,106,584 shares of the stock were exchanged, compared to its average volume of 1,529,164. Travere Therapeutics has a 1-year low of $6.01 and a 1-year high of $25.29. The company has a current ratio of 1.71, a quick ratio of 1.68 and a debt-to-equity ratio of 24.96. The business has a fifty day moving average price of $18.08 and a 200 day moving average price of $18.75. The firm has a market capitalization of $1.90 billion, a PE ratio of -5.22 and a beta of 0.88.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.55) by $0.08. The company had revenue of $81.73 million for the quarter, compared to analysts' expectations of $77.44 million. Travere Therapeutics had a negative return on equity of 1,636.87% and a negative net margin of 137.90%. The firm's revenue was up 83.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.76) earnings per share. Research analysts expect that Travere Therapeutics will post -1.4 earnings per share for the current fiscal year.

Insider Activity at Travere Therapeutics

In related news, CAO Sandra Calvin sold 54,244 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $25.00, for a total transaction of $1,356,100.00. Following the completion of the sale, the chief accounting officer now directly owns 54,410 shares of the company's stock, valued at approximately $1,360,250. This represents a 49.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Peter Heerma sold 3,074 shares of Travere Therapeutics stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $25.00, for a total transaction of $76,850.00. Following the completion of the transaction, the insider now directly owns 127,634 shares in the company, valued at approximately $3,190,850. The trade was a 2.35 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 83,941 shares of company stock worth $2,049,392. 4.19% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Summit Investment Advisors Inc. grew its stake in shares of Travere Therapeutics by 9.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 7,905 shares of the company's stock worth $138,000 after acquiring an additional 667 shares in the last quarter. Arizona State Retirement System boosted its holdings in Travere Therapeutics by 4.3% during the first quarter. Arizona State Retirement System now owns 23,364 shares of the company's stock worth $419,000 after purchasing an additional 968 shares during the last quarter. Diversified Trust Co grew its position in Travere Therapeutics by 8.6% in the first quarter. Diversified Trust Co now owns 15,959 shares of the company's stock valued at $286,000 after purchasing an additional 1,258 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in Travere Therapeutics during the 4th quarter worth about $31,000. Finally, Sterling Capital Management LLC boosted its stake in shares of 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 during the last quarter.

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.