Fintel reports that on September 22, 2023, Wells Fargo downgraded their outlook for Travere Therapeutics (NASDAQ:TVTX) from Overweight to Equal-Weight.
Analyst Price Forecast Suggests 259.52% Upside
As of August 31, 2023, the average one-year price target for Travere Therapeutics is 27.47. The forecasts range from a low of 15.15 to a high of $43.05. The average price target represents an increase of 259.52% from its latest reported closing price of 7.64.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Travere Therapeutics is 287MM, an increase of 27.01%. The projected annual non-GAAP EPS is -3.37.
What is the Fund Sentiment?
There are 383 funds or institutions reporting positions in Travere Therapeutics. This is a decrease of 17 owner(s) or 4.25% in the last quarter. Average portfolio weight of all funds dedicated to TVTX is 0.14%, a decrease of 28.93%. Total shares owned by institutions decreased in the last three months by 0.06% to 94,665K shares. The put/call ratio of TVTX is 1.36, indicating a bearish outlook.
What are Other Shareholders Doing?
Armistice Capital holds 7,450K shares representing 9.93% ownership of the company. In it’s prior filing, the firm reported owning 7,148K shares, representing an increase of 4.05%. The firm decreased its portfolio allocation in TVTX by 28.47% over the last quarter.
Deep Track Capital holds 7,370K shares representing 9.83% ownership of the company. In it’s prior filing, the firm reported owning 6,147K shares, representing an increase of 16.59%. The firm decreased its portfolio allocation in TVTX by 7.71% over the last quarter.
Janus Henderson Group holds 6,967K shares representing 9.29% ownership of the company. In it’s prior filing, the firm reported owning 6,846K shares, representing an increase of 1.74%. The firm decreased its portfolio allocation in TVTX by 35.27% over the last quarter.
XBI – SPDR(R) S&P(R) Biotech ETF holds 4,301K shares representing 5.73% ownership of the company. In it’s prior filing, the firm reported owning 3,027K shares, representing an increase of 29.62%. The firm decreased its portfolio allocation in TVTX by 3.41% over the last quarter.
Macquarie Group holds 3,953K shares representing 5.27% ownership of the company. In it’s prior filing, the firm reported owning 3,645K shares, representing an increase of 7.80%. The firm decreased its portfolio allocation in TVTX by 23.40% over the last quarter.
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 article originally appeared on Fintel
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