Canaccord Genuity Group Increases Travere Therapeutics (NASDAQ:TVTX) Price Target to $18.00

Travere Therapeutics (NASDAQ:TVTX) had its price objective lifted by Canaccord Genuity Group from $15.00 to $18.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective suggests a potential upside of 163.93% from the stock’s previous close.

A number of other equities analysts have also commented on TVTX. Wells Fargo & Company raised their price objective on shares of Travere Therapeutics from $8.00 to $9.00 and gave the company an “equal weight” rating in a research report on Friday, February 16th. Wedbush restated an “outperform” rating and set a $13.00 price target on shares of Travere Therapeutics in a research report on Wednesday, April 17th. HC Wainwright increased their price objective on Travere Therapeutics from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Guggenheim reissued a “neutral” rating on shares of Travere Therapeutics in a research note on Wednesday, March 27th. Finally, Piper Sandler upped their target price on Travere Therapeutics from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Thursday, January 18th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $16.69.

Travere Therapeutics Trading Up 1.0 %

NASDAQ:TVTX opened at $6.82 on Tuesday. Travere Therapeutics has a 1 year low of $5.12 and a 1 year high of $19.54. The stock’s fifty day moving average price is $6.99 and its two-hundred day moving average price is $7.60. The company has a debt-to-equity ratio of 1.88, a current ratio of 3.47 and a quick ratio of 3.41. The company has a market cap of $519.07 million, a P/E ratio of -4.24 and a beta of 0.69.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings data on Monday, May 6th. The company reported ($1.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.98) by ($0.78). Travere Therapeutics had a negative net margin of 56.02% and a negative return on equity of 177.97%. The company had revenue of $41.40 million for the quarter, compared to the consensus estimate of $43.46 million. During the same quarter in the previous year, the firm posted ($1.27) earnings per share. The business’s revenue for the quarter was up 34.0% compared to the same quarter last year. As a group, analysts expect that Travere Therapeutics will post -3.1 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TVTX. ProShare Advisors LLC boosted its stake in shares of Travere Therapeutics by 9.2% in the 1st quarter. ProShare Advisors LLC now owns 18,421 shares of the company’s stock valued at $142,000 after purchasing an additional 1,557 shares in the last quarter. Teacher Retirement System of Texas lifted its stake in Travere Therapeutics by 9.6% in the third quarter. Teacher Retirement System of Texas now owns 18,804 shares of the company’s stock worth $168,000 after purchasing an additional 1,641 shares during the last quarter. Arizona State Retirement System boosted its position in Travere Therapeutics by 9.7% during the fourth quarter. Arizona State Retirement System now owns 20,969 shares of the company’s stock valued at $189,000 after buying an additional 1,851 shares during the period. Signaturefd LLC grew its stake in shares of Travere Therapeutics by 1,656.4% during the fourth quarter. Signaturefd LLC now owns 3,021 shares of the company’s stock valued at $27,000 after buying an additional 2,849 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Travere Therapeutics by 7.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 46,424 shares of the company’s stock worth $417,000 after buying an additional 3,083 shares during the period.

About Travere Therapeutics

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.