Travere Therapeutics (NASDAQ:TVTX) Given New $54.00 Price Target at Guggenheim

Travere Therapeutics (NASDAQ:TVTX) had its target price boosted by investment analysts at Guggenheim from $49.00 to $54.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Guggenheim’s target price points to a potential upside of 75.90% from the company’s current price.

Several other analysts also recently commented on TVTX. Piper Sandler upped their price target on shares of Travere Therapeutics from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, February 6th. Wall Street Zen downgraded shares of Travere Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 21st. HC Wainwright reiterated a “buy” rating and issued a $47.00 price target on shares of Travere Therapeutics in a research report on Tuesday. JPMorgan Chase & Co. reduced their price target on shares of Travere Therapeutics from $44.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, March 25th. Finally, Citigroup reiterated a “buy” rating on shares of Travere Therapeutics in a research report on Tuesday. Nine investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Travere Therapeutics has an average rating of “Moderate Buy” and an average price target of $38.73.

Travere Therapeutics Stock Up 6.0%

Shares of NASDAQ:TVTX opened at $30.70 on Tuesday. The firm has a 50 day simple moving average of $29.20 and a 200-day simple moving average of $31.18. Travere Therapeutics has a twelve month low of $13.88 and a twelve month high of $42.13. The company has a market capitalization of $2.84 billion, a PE ratio of -102.33 and a beta of 0.86. The company has a current ratio of 2.74, a quick ratio of 2.70 and a debt-to-equity ratio of 2.71.

Insider Transactions at Travere Therapeutics

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 value 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 filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jula Inrig sold 1,779 shares of the business’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $32.21, for a total transaction of $57,301.59. Following the completion of the transaction, the insider directly owned 105,706 shares in the company, valued at $3,404,790.26. This represents a 1.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 312,067 shares of company stock worth $9,755,570 over the last 90 days. Company insiders own 4.06% of the company’s stock.

Hedge Funds Weigh In On Travere Therapeutics

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Travere Therapeutics by 10.3% in the 3rd quarter. Vanguard Group Inc. now owns 6,613,368 shares of the company’s stock valued at $158,059,000 after buying an additional 619,085 shares during the period. State Street Corp grew its stake in shares of Travere Therapeutics by 47.8% during the 4th quarter. State Street Corp now owns 4,756,666 shares of the company’s stock worth $181,752,000 after purchasing an additional 1,538,827 shares during the period. Perceptive Advisors LLC grew its stake in shares of Travere Therapeutics by 12.7% during the 4th quarter. Perceptive Advisors LLC now owns 4,278,180 shares of the company’s stock worth $163,469,000 after purchasing an additional 483,565 shares during the period. Adage Capital Partners GP L.L.C. boosted its position in shares of Travere Therapeutics by 27.4% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,784,000 shares of the company’s stock worth $41,203,000 after buying an additional 599,102 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Travere Therapeutics by 28.2% in the 4th quarter. Renaissance Technologies LLC now owns 2,246,779 shares of the company’s stock worth $85,849,000 after buying an additional 494,665 shares in the last quarter.

Key Headlines Impacting 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.