Stifel Nicolaus Increases Travere Therapeutics (NASDAQ:TVTX) Price Target 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 target price hoisted by equities researchers at Stifel Nicolaus from $20.00 to $25.00 in a report issued on Friday,Benzinga reports. The firm presently has a "hold" rating on the stock. Stifel Nicolaus' price objective would suggest a potential upside of 8.46% from the stock's previous close.

A number of other research firms have also commented on TVTX. Jefferies Financial Group set a $35.00 price target on shares of Travere Therapeutics in a research report on Wednesday, September 10th. Wells Fargo & Company boosted their target price on shares of Travere Therapeutics from $27.00 to $35.00 and gave the stock an "overweight" rating in a research note on Thursday, September 11th. HC Wainwright reaffirmed a "buy" rating and issued a $47.00 target price on shares of Travere Therapeutics in a research note on Wednesday, September 10th. Scotiabank reissued an "outperform" rating on shares of Travere Therapeutics in a research note on Thursday, August 7th. Finally, Wall Street Zen raised shares of Travere Therapeutics from a "hold" rating to a "buy" rating in a research note on Monday, September 1st. Thirteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $34.20.

Travere Therapeutics Price Performance

Shares of Travere Therapeutics stock traded up $0.28 during trading on Friday, hitting $23.05. 535,180 shares of the company's stock traded hands, compared to its average volume of 1,768,456. The company has a debt-to-equity ratio of 9.50, a current ratio of 2.00 and a quick ratio of 1.98. The firm's fifty day moving average price is $18.03 and its 200 day moving average price is $17.40. Travere Therapeutics has a twelve month low of $12.91 and a twelve month high of $28.69. The company has a market cap of $2.05 billion, a PE ratio of -11.38 and a beta of 0.79.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in TVTX. Northern Trust Corp boosted its holdings in Travere Therapeutics by 11.3% during the fourth quarter. Northern Trust Corp now owns 754,395 shares of the company's stock worth $13,142,000 after purchasing an additional 76,358 shares during the last quarter. Ameriprise Financial Inc. raised its position in Travere Therapeutics by 132.6% during the fourth quarter. Ameriprise Financial Inc. now owns 285,350 shares of the company's stock worth $4,971,000 after acquiring an additional 162,649 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Travere Therapeutics by 23.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,946 shares of the company's stock worth $869,000 after acquiring an additional 9,481 shares in the last quarter. Millennium Management LLC raised its position in Travere Therapeutics by 446.2% during the fourth quarter. Millennium Management LLC now owns 626,056 shares of the company's stock worth $10,906,000 after acquiring an additional 511,443 shares in the last quarter. Finally, Man Group plc raised its position in Travere Therapeutics by 246.8% during the fourth quarter. Man Group plc now owns 88,241 shares of the company's stock worth $1,537,000 after acquiring an additional 62,798 shares in 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.