Wells Fargo & Company Boosts Travere Therapeutics (NASDAQ:TVTX) Price Target to $35.00

Key Points

• Wells Fargo & Company raised the price target for Travere Therapeutics (NASDAQ:TVTX) from $27.00 to $35.00, indicating a potential upside of 28.16% from the current price.
• Thirteen analysts rate Travere as a Buy, contributing to an average price target of $34.07, reflecting strong sentiment in the market.
• Travere Therapeutics recently reported a quarterly earnings increase of 111.5% year-over-year, despite a negative EPS, highlighting the company’s growth potential despite challenges.

Travere Therapeutics (NASDAQ:TVTX - Get Free Report) had its price objective hoisted by equities research analysts at Wells Fargo & Company from $27.00 to $35.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's price target would indicate a potential upside of 28.16% from the company's current price.

Several other equities analysts also recently commented on TVTX. Jefferies Financial Group set a $35.00 price objective on shares of Travere Therapeutics in a report on Wednesday. Wall Street Zen upgraded shares of Travere Therapeutics from a "hold" rating to a "buy" rating in a research note on Monday, September 1st. Wedbush upped their price target on shares of Travere Therapeutics from $30.00 to $32.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Scotiabank restated an "outperform" rating on shares of Travere Therapeutics in a research note on Thursday, August 7th. Finally, Citigroup restated a "buy" rating on shares of Travere Therapeutics in a research note on Sunday, August 10th. Thirteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $34.07.

Travere Therapeutics Price Performance

NASDAQ:TVTX opened at $27.31 on Thursday. Travere Therapeutics has a one year low of $11.89 and a one year high of $28.69. The company has a market cap of $2.43 billion, a P/E ratio of -13.39 and a beta of 0.79. The firm's fifty day moving average price is $17.35 and its two-hundred day moving average price is $17.36. The company has a debt-to-equity ratio of 9.50, a current ratio of 2.00 and a quick ratio of 1.98.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. GF Fund Management CO. LTD. bought a new position in shares of Travere Therapeutics in the fourth quarter worth about $31,000. Raymond James Financial Inc. bought a new position in shares of Travere Therapeutics in the second quarter worth about $33,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Travere Therapeutics in the first quarter worth about $62,000. KBC Group NV bought a new position in shares of Travere Therapeutics in the first quarter worth about $75,000. Finally, Headlands Technologies LLC bought a new position in shares of Travere Therapeutics in the second quarter worth about $73,000.

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.

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