On March 1, 2023, Guggenheim initiated coverage of Travere Therapeutics with a Buy recommendation.
Analyst Price Forecast Suggests 56.78% Upside
As of March 2, 2023, the average one-year price target for Travere Therapeutics is $34.09. The forecasts range from a low of $17.17 to a high of $52.50. The average price target represents an increase of 56.78% from its latest reported closing price of $21.74.
The projected annual revenue for Travere Therapeutics is $287MM, an increase of 35.41%. The projected annual non-GAAP EPS is -$3.37.
What are large shareholders doing?
Armistice Capital holds 6,412K shares representing 9.90% ownership of the company. In it's prior filing, the firm reported owning 5,836K shares, representing an increase of 8.98%. The firm decreased its portfolio allocation in TVTX by 5.69% over the last quarter.
Janus Henderson Group holds 5,091K shares representing 7.86% ownership of the company. In it's prior filing, the firm reported owning 3,912K shares, representing an increase of 23.15%. The firm increased its portfolio allocation in TVTX by 5.89% over the last quarter.
Deep Track Capital holds 4,582K shares representing 7.08% ownership of the company. In it's prior filing, the firm reported owning 4,000K shares, representing an increase of 12.70%. The firm decreased its portfolio allocation in TVTX by 10.37% over the last quarter.
Ra Capital Management holds 3,985K shares representing 6.15% ownership of the company. In it's prior filing, the firm reported owning 4,923K shares, representing a decrease of 23.55%. The firm decreased its portfolio allocation in TVTX by 34.32% over the last quarter.
Macquarie Group holds 3,556K shares representing 5.49% ownership of the company. In it's prior filing, the firm reported owning 3,310K shares, representing an increase of 6.91%. The firm decreased its portfolio allocation in TVTX by 68.20% over the last quarter.
What is the Fund Sentiment?
There are 394 funds or institutions reporting positions in Travere Therapeutics. This is a decrease of 13 owner(s) or 3.19% in the last quarter. Average portfolio weight of all funds dedicated to TVTX is 0.15%, a decrease of 14.93%. Total shares owned by institutions increased in the last three months by 4.86% to 81,416K shares. The put/call ratio of TVTX is 1.10, indicating a bearish outlook.
Travere Therapeutics Background Information
(This description is provided by the company.)
Travere Therapeutics is a biopharmaceutical company that comes together every day to help patients, families and caregivers of all backgrounds as they navigate life with a rare disease. On this path, the company knows the need for treatment options is urgent - that is why its global team works with the rare disease community to identify, develop and deliver life-changing therapies. In pursuit of this mission, Travere continuously seeks to understand the diverse perspectives of rare patients and to courageously forge new paths to make a difference in their lives and provide hope - today and tomorrow.
This story originally appeared on Fintel.
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