Travere Therapeutics (NASDAQ:TVTX) Price Target Raised to $25.00

Key Points

• Travere Therapeutics had its price target raised by Stifel Nicolaus from $20.00 to $25.00, indicating a potential upside of 2.50% from its previous close.
• Wells Fargo also raised its price target for the company to $35.00 while maintaining an "overweight" rating, reflecting a positive outlook among several analysts who rate the stock as a "Moderate Buy."
• The company reported a revenue of $94.84 million for the last quarter, marking a 111.5% increase compared to the same quarter last year, although it fell short of the consensus estimate of $100.18 million.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) had its price target hoisted by research analysts at Stifel Nicolaus from $20.00 to $25.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a "hold" rating on the stock. Stifel Nicolaus' price target suggests a potential upside of 2.50% from the company's previous close.

A number of other equities analysts have also recently issued reports on the company. Wells Fargo & Company boosted their price objective on Travere Therapeutics from $27.00 to $35.00 and gave the company an "overweight" rating in a report on Thursday. Citigroup reaffirmed a "buy" rating on shares of Travere Therapeutics in a research report on Sunday, August 10th. Wall Street Zen raised Travere Therapeutics from a "hold" rating to a "buy" rating in a report on Monday, September 1st. Jefferies Financial Group set a $35.00 target price on Travere Therapeutics in a research note on Wednesday. Finally, HC Wainwright reiterated a "buy" rating and set a $47.00 price target on shares of Travere Therapeutics in a research report on Wednesday. Thirteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Travere Therapeutics has a consensus rating of "Moderate Buy" and a consensus target price of $34.20.

Travere Therapeutics Price Performance

Travere Therapeutics stock traded down $0.61 during mid-day trading on Friday, hitting $24.39. The stock had a trading volume of 734,323 shares, compared to its average volume of 1,757,566. The firm's 50 day moving average is $17.55 and its 200 day moving average is $17.38. The firm has a market capitalization of $2.17 billion, a P/E ratio of -12.01 and a beta of 0.79. Travere Therapeutics has a one year low of $12.57 and a one year high of $28.69. The company has a current ratio of 2.00, a quick ratio of 1.98 and a debt-to-equity ratio of 9.50.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.28) by $0.14. Travere Therapeutics had a negative return on equity of 717.68% and a negative net margin of 50.64%.The business had revenue of $94.84 million for the quarter, compared to the consensus estimate of $100.18 million. During the same quarter in the previous year, the company posted ($0.65) EPS. The company's revenue was up 111.5% compared to the same quarter last year. On average, sell-side analysts forecast that Travere Therapeutics will post -1.4 earnings per share for the current fiscal year.

Institutional Trading of Travere Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in TVTX. Squarepoint Ops LLC increased its position in Travere Therapeutics by 98.7% in the 2nd quarter. Squarepoint Ops LLC now owns 479,394 shares of the company's stock valued at $7,095,000 after acquiring an additional 238,070 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Travere Therapeutics in the 2nd quarter worth approximately $73,000. Tower Research Capital LLC TRC lifted its stake in Travere Therapeutics by 609.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 24,998 shares of the company's stock valued at $370,000 after buying an additional 21,474 shares in the last quarter. Perceptive Advisors LLC purchased a new stake in Travere Therapeutics in the 2nd quarter valued at approximately $12,347,000. Finally, Man Group plc lifted its stake in shares of Travere Therapeutics by 185.0% during the 2nd quarter. Man Group plc now owns 139,044 shares of the company's stock worth $2,058,000 after purchasing an additional 90,265 shares during the period.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.