Travere Therapeutics (NASDAQ:TVTX) Rating Increased to Overweight at Piper Sandler

Key Points

• Piper Sandler upgraded Travere Therapeutics to an "overweight" rating with a $49 price target, implying roughly a 19.3% upside from the prior close.
• FDA full/expanded approval of FILSPARI for FSGS triggered broad analyst optimism (Canaccord $56, Guggenheim $54) and a consensus target of $42.08, and the stock rallied intraday ~33.7% to $41.06 on heavy volume.
• Insiders sold 312,067 shares (~$9.76 million) in the last quarter and now own 4.19% of the company, while institutional holdings showed small recent position changes.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) was upgraded by equities research analysts at Piper Sandler from a "neutral" rating to an "overweight" rating in a report released on Tuesday, Marketbeat reports. The firm currently has a $49.00 target price on the stock. Piper Sandler's price target would suggest a potential upside of 19.34% from the company's previous close.

A number of other brokerages have also weighed in on TVTX. HC Wainwright reaffirmed a "buy" rating and issued a $47.00 target price on shares of Travere Therapeutics in a research note on Tuesday. Canaccord Genuity Group raised their target price on shares of Travere Therapeutics from $47.00 to $56.00 and gave the company a "buy" rating in a research note on Tuesday. Guggenheim raised their target price on shares of Travere Therapeutics from $49.00 to $54.00 and gave the company a "buy" rating in a research note on Tuesday. JPMorgan Chase & Co. lowered their price target on shares of Travere Therapeutics from $44.00 to $41.00 and set an "overweight" rating on the stock in a report on Wednesday, March 25th. Finally, Wall Street Zen cut shares of Travere Therapeutics from a "strong-buy" rating to a "buy" rating in a report on Saturday, February 21st. Eleven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $42.08.

Travere Therapeutics Trading Up 33.7%

TVTX stock traded up $10.36 during trading on Tuesday, hitting $41.06. The company had a trading volume of 9,472,521 shares, compared to its average volume of 2,052,599. The company has a quick ratio of 2.70, a current ratio of 2.74 and a debt-to-equity ratio of 2.71. The firm has a 50-day moving average price of $29.20 and a 200-day moving average price of $31.18. Travere Therapeutics has a 12 month low of $13.88 and a 12 month high of $42.50. The stock has a market cap of $3.79 billion, a price-to-earnings ratio of -135.76 and a beta of 0.86.

Insider Activity at Travere Therapeutics

In related news, insider Peter Heerma sold 7,310 shares of the business's stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $32.12, for a total value of $234,797.20. Following the transaction, the insider owned 131,823 shares in the company, valued at $4,234,154.76. The trade was a 5.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Elizabeth E. Reed sold 10,000 shares of the business's stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $27.34, for a total transaction of $273,400.00. Following the completion of the transaction, the insider owned 90,270 shares in the company, valued at approximately $2,467,981.80. The trade was a 9.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 312,067 shares of company stock valued at $9,755,570 in the last quarter. Insiders own 4.19% of the company's stock.

Institutional Investors Weigh In On Travere Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. State of Wyoming bought a new position in shares of Travere Therapeutics during the 4th quarter valued at approximately $37,000. Torren Management LLC bought a new position in shares of Travere Therapeutics during the 4th quarter valued at approximately $38,000. Comerica Bank grew its position in shares of Travere Therapeutics by 77.5% during the 4th quarter. Comerica Bank now owns 1,127 shares of the company's stock valued at $43,000 after acquiring an additional 492 shares during the period. Smartleaf Asset Management LLC grew its position in shares of Travere Therapeutics by 69.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the company's stock valued at $45,000 after acquiring an additional 487 shares during the period. Finally, First Horizon Corp bought a new position in shares of Travere Therapeutics during the 3rd quarter valued at approximately $36,000.

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

About Travere Therapeutics

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.