Travere Therapeutics (NASDAQ:TVTX) PT Raised to $23.00

Travere Therapeutics (NASDAQ:TVTX) had its price target upped by investment analysts at Citigroup from $14.00 to $23.00 in a report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price objective indicates a potential upside of 102.64% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on TVTX. Wedbush upped their price objective on Travere Therapeutics from $13.00 to $16.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. HC Wainwright upped their target price on Travere Therapeutics from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Friday. JPMorgan Chase & Co. upped their target price on Travere Therapeutics from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. Piper Sandler upped their target price on Travere Therapeutics from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Finally, Barclays upped their target price on Travere Therapeutics from $12.00 to $14.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Travere Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $16.33.

Travere Therapeutics Price Performance

Shares of NASDAQ:TVTX traded up $1.42 during mid-day trading on Friday, reaching $11.35. The stock had a trading volume of 6,232,162 shares, compared to its average volume of 1,213,543. The company has a current ratio of 3.04, a quick ratio of 2.99 and a debt-to-equity ratio of 24.96. The company has a market cap of $864.06 million, a P/E ratio of -5.35 and a beta of 0.71. Travere Therapeutics has a 1 year low of $5.12 and a 1 year high of $14.82. The business’s 50 day moving average price is $9.15 and its 200 day moving average price is $7.81.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.03). Travere Therapeutics had a negative net margin of 82.14% and a negative return on equity of 269.18%. The company had revenue of $54.12 million for the quarter, compared to analysts’ expectations of $49.50 million. Research analysts expect that Travere Therapeutics will post -3.98 EPS for the current fiscal year.

Hedge Funds Weigh In On Travere Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TVTX. Forefront Analytics LLC grew its position in Travere Therapeutics by 10.2% during the 2nd quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock worth $109,000 after purchasing an additional 1,237 shares during the period. Millennium Management LLC grew its position in Travere Therapeutics by 33.9% during the 2nd quarter. Millennium Management LLC now owns 2,949,335 shares of the company’s stock worth $24,244,000 after purchasing an additional 747,406 shares during the period. AQR Capital Management LLC grew its position in Travere Therapeutics by 55.7% during the 2nd quarter. AQR Capital Management LLC now owns 74,069 shares of the company’s stock worth $609,000 after purchasing an additional 26,485 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Travere Therapeutics during the 2nd quarter worth about $291,000. Finally, Point72 DIFC Ltd acquired a new stake in Travere Therapeutics during the 2nd quarter worth about $175,000.

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.