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.

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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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