Travere Therapeutics (NASDAQ:TVTX) Given New $45.00 Price Target at Canaccord Genuity Group

Travere Therapeutics (NASDAQ:TVTX) had its price target raised by Canaccord Genuity Group from $22.00 to $45.00 in a report released on Wednesday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Other analysts have also recently issued research reports about the stock. Cantor Fitzgerald assumed coverage on shares of Travere Therapeutics in a research note on Friday, January 10th. They issued an “overweight” rating on the stock. Barclays increased their target price on Travere Therapeutics from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Scotiabank upped their price target on Travere Therapeutics from $23.00 to $27.00 and gave the company a “sector outperform” rating in a research report on Friday, November 1st. Wells Fargo & Company raised Travere Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $9.00 to $27.00 in a report on Monday, October 21st. Finally, Piper Sandler upped their target price on shares of Travere Therapeutics from $12.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $27.77.

Travere Therapeutics Stock Down 2.3 %

Shares of TVTX stock opened at $23.20 on Wednesday. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96. The stock has a fifty day moving average price of $19.06 and a 200 day moving average price of $15.95. Travere Therapeutics has a one year low of $5.12 and a one year high of $25.29.

Insider Activity at Travere Therapeutics

In related news, CFO Christopher R. Cline sold 5,192 shares of Travere Therapeutics stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $20.12, for a total value of $104,463.04. Following the completion of the sale, the chief financial officer now directly owns 90,038 shares in the company, valued at $1,811,564.56. This trade represents a 5.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sandra Calvin sold 54,244 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $25.00, for a total transaction of $1,356,100.00. Following the transaction, the chief accounting officer now owns 54,410 shares in the company, valued at approximately $1,360,250. The trade was a 49.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 218,425 shares of company stock valued at $4,674,259 over the last quarter. Corporate insiders own 3.75% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in TVTX. Emerald Advisers LLC increased its holdings in Travere Therapeutics by 8.4% in the fourth quarter. Emerald Advisers LLC now owns 2,125,744 shares of the company’s stock valued at $37,030,000 after purchasing an additional 165,085 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Travere Therapeutics by 6.4% in the 4th quarter. Geode Capital Management LLC now owns 1,842,301 shares of the company’s stock valued at $32,100,000 after acquiring an additional 111,256 shares during the period. Finepoint Capital LP raised its position in shares of Travere Therapeutics by 0.3% in the 3rd quarter. Finepoint Capital LP now owns 1,782,267 shares of the company’s stock valued at $24,934,000 after acquiring an additional 5,539 shares during the period. Emerald Mutual Fund Advisers Trust boosted its stake in Travere Therapeutics by 26.0% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 1,185,709 shares of the company’s stock worth $16,588,000 after acquiring an additional 244,444 shares during the last quarter. Finally, Parkman Healthcare Partners LLC grew its holdings in Travere Therapeutics by 12.0% during the third quarter. Parkman Healthcare Partners LLC now owns 1,086,067 shares of the company’s stock valued at $15,194,000 after purchasing an additional 116,175 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.