Stifel Nicolaus Issues Positive Forecast for Travere Therapeutics (NASDAQ:TVTX) Stock Price

Travere Therapeutics (NASDAQ:TVTX) had its target price boosted by Stifel Nicolaus from $22.00 to $23.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Stifel Nicolaus’ target price indicates a potential upside of 8.75% from the company’s current price.

Several other analysts also recently commented on the stock. Canaccord Genuity Group lifted their target price on shares of Travere Therapeutics from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday, April 10th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Travere Therapeutics in a research note on Wednesday, April 23rd. HC Wainwright boosted their price target on Travere Therapeutics from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Scotiabank reaffirmed an “outperform” rating on shares of Travere Therapeutics in a report on Friday, April 11th. Finally, JPMorgan Chase & Co. lifted their target price on Travere Therapeutics from $42.00 to $44.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $31.79.

Travere Therapeutics Price Performance

Shares of NASDAQ TVTX opened at $21.15 on Friday. Travere Therapeutics has a twelve month low of $6.01 and a twelve month high of $25.29. The company has a market cap of $1.88 billion, a PE ratio of -5.16 and a beta of 0.84. The business’s 50 day moving average price is $18.08 and its two-hundred day moving average price is $18.74. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96.

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

Insider Activity

In other Travere Therapeutics news, SVP William E. Rote sold 8,951 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $19.78, for a total transaction of $177,050.78. Following the completion of the transaction, the senior vice president now directly owns 95,719 shares in the company, valued at $1,893,321.82. The trade was a 8.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Eric M. Dube sold 50,691 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $20.21, for a total value of $1,024,465.11. Following the completion of the sale, the chief executive officer now directly owns 430,548 shares in the company, valued at approximately $8,701,375.08. This represents a 10.53 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 156,330 shares of company stock worth $3,507,377. 4.06% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Rock Springs Capital Management LP increased its position in Travere Therapeutics by 6.2% during the 4th quarter. Rock Springs Capital Management LP now owns 4,973,649 shares of the company’s stock worth $86,641,000 after purchasing an additional 289,173 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Travere Therapeutics by 28.5% during the fourth quarter. Renaissance Technologies LLC now owns 2,409,514 shares of the company’s stock worth $41,974,000 after buying an additional 534,500 shares in the last quarter. Driehaus Capital Management LLC increased its holdings in shares of Travere Therapeutics by 608.1% during the fourth quarter. Driehaus Capital Management LLC now owns 2,217,975 shares of the company’s stock worth $38,637,000 after buying an additional 1,904,733 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in shares of Travere Therapeutics by 36.7% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,174,213 shares of the company’s stock valued at $37,875,000 after acquiring an additional 583,836 shares during the last quarter. Finally, Emerald Advisers LLC boosted its holdings in shares of Travere Therapeutics by 8.4% during the 4th quarter. Emerald Advisers LLC now owns 2,125,744 shares of the company’s stock valued at $37,030,000 after acquiring an additional 165,085 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.