Travere Therapeutics (NASDAQ:TVTX) Given New $44.00 Price Target at Wedbush

Travere Therapeutics (NASDAQ:TVTX) had its price objective upped by Wedbush from $39.00 to $44.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Wedbush’s target price points to a potential upside of 7.33% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on the stock. JPMorgan Chase & Co. lowered their price target on shares of Travere Therapeutics from $44.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, March 25th. Guggenheim lifted their target price on shares of Travere Therapeutics from $49.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Travere Therapeutics in a report on Wednesday, January 21st. Piper Sandler lifted their price objective on Travere Therapeutics from $35.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, February 6th. Finally, Citigroup reiterated a “buy” rating on shares of Travere Therapeutics in a report on Tuesday. Nine equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $39.82.

Travere Therapeutics Stock Performance

TVTX opened at $41.00 on Tuesday. The company has a current ratio of 2.74, a quick ratio of 2.70 and a debt-to-equity ratio of 2.71. The company’s fifty day moving average price is $29.20 and its two-hundred day moving average price is $31.18. Travere Therapeutics has a 1-year low of $13.88 and a 1-year high of $42.50. The company has a market cap of $3.79 billion, a price-to-earnings ratio of -136.65 and a beta of 0.86.

Insiders Place Their Bets

In other Travere Therapeutics news, insider Elizabeth E. Reed sold 10,000 shares of the business’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $30.00, for a total transaction of $300,000.00. Following the transaction, the insider directly owned 105,211 shares of the company’s stock, valued at approximately $3,156,330. The trade was a 8.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Roy D. Baynes sold 10,000 shares of the business’s stock in a transaction on Monday, April 6th. The shares were sold at an average price of $33.00, for a total transaction of $330,000.00. Following the transaction, the director directly owned 37,500 shares in the company, valued at approximately $1,237,500. The trade was a 21.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 312,067 shares of company stock valued at $9,755,570 over the last quarter. 4.19% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Emerald Advisers LLC boosted its holdings in shares of Travere Therapeutics by 2.6% during the 3rd quarter. Emerald Advisers LLC now owns 2,146,767 shares of the company’s stock valued at $51,308,000 after buying an additional 55,407 shares in the last quarter. Essex Investment Management Co. LLC bought a new stake in shares of Travere Therapeutics during the 3rd quarter valued at $3,872,000. Palisades Investment Partners LLC bought a new stake in shares of Travere Therapeutics during the 4th quarter valued at $5,264,000. Voya Investment Management LLC boosted its holdings in shares of Travere Therapeutics by 16.2% during the 3rd quarter. Voya Investment Management LLC now owns 194,854 shares of the company’s stock valued at $4,657,000 after buying an additional 27,133 shares in the last quarter. Finally, Lisanti Capital Growth LLC bought a new stake in shares of Travere Therapeutics during the 3rd quarter valued at $3,095,000.

Trending Headlines about Travere Therapeutics

Here are the key news stories impacting Travere Therapeutics this week:

• Positive Sentiment: FDA issues full/expanded approval of FILSPARI (sparsentan) for FSGS — this makes FILSPARI the first approved medicine for the disease, opening a commercial opportunity and potential revenue stream for Travere. Travere Announces Full FDA Approval (BusinessWire)
• Positive Sentiment: HC Wainwright reaffirmed a Buy rating and set a $47 price target (roughly a mid-50% upside vs. current levels), which can support bullish sentiment from growth-oriented investors. HC Wainwright Reaffirms Buy (Benzinga)
• Positive Sentiment: Unusually large call-option activity (21,305 calls, a ~552% jump vs. normal volume) signals short-term bullish positioning by traders, which can amplify intraday upward pressure on the stock as buyers cover or adjust positions.
• Neutral Sentiment: Trading was briefly halted for “news pending” during the announcement window — a technical/regulatory pause that accompanied the company’s disclosure but did not change the substance of the approval news.
• Neutral Sentiment: Company-hosted materials and conference-transcript coverage provide more detail on the approval, commercial plans and FSGS market dynamics; useful for modeling uptake but not new to the approval itself. FDA Approval Transcript (Seeking Alpha)

Travere Therapeutics Company Profile

Travere Therapeutics, Inc (NASDAQ: TVTX) is a biopharmaceutical company headquartered in San Diego, California, dedicated to the development and commercialization of therapies for rare kidney and genetic disorders. The company’s mission is to address unmet needs in conditions with limited treatment options by focusing on diseases that affect small patient populations. Travere combines research, development and commercial capabilities to bring innovative medicines to market.

The company’s lead product is sparsentan, a dual endothelin angiotensin receptor antagonist that has received accelerated approval from the U.S.