Citigroup Reaffirms Buy Rating for Travere Therapeutics, Sets $70 Target
Citigroup continues to recommend buying Travere Therapeutics, aiming for a $70 price target.
Key Points
- On June 15, 2026, Citigroup reiterated its buy rating for Travere Therapeutics with a price target of $70.
- Shares of NasdaqGM:TVTX traded at $52.04, with a market cap of approximately $4.84 billion and a forward P/E of 10.64.
- Recent insider activity included multiple buys in May, and analysts like Wells Fargo also maintain buy ratings on the stock.
Citigroup reiterated its buy rating on Travere Therapeutics, Inc. (NasdaqGM: TVTX) on June 15, 2026, maintaining a price target of $70. This suggests confidence in the stock's potential upside, as shares currently trade at $52.04.
Other Institutional Activity in Travere Therapeutics
Janus Henderson Group increased its holdings by 908,420 shares to a total of 11.4 million shares, valued at about $339.2 million. FMR LLC also boosted its stake by 1.35 million shares, ending with nearly 11 million shares worth $325.9 million. BlackRock, Inc. slightly reduced its position by 77,319 shares, holding about 7.8 million shares valued at $231.5 million. State Street Corp added 203,322 shares to reach nearly 5 million shares, valued at $147.4 million. Armistice Capital, LLC grew its holdings by 1.13 million shares, totaling approximately 4.9 million shares worth $145.5 million.
Travere Therapeutics Stock Snapshot
Shares of Travere Therapeutics are trading near $52.04. The company has a market capitalization of roughly $4.84 billion and a forward P/E ratio of 10.64. With a beta of 1.141, the stock has seen a 52-week range between $13.88 and $52.72. The 50-day moving average is $41.99, while the 200-day moving average stands at $32.89. Travere has a strong liquidity position with a current ratio of 3.131 and a quick ratio of 2.816, though it carries a high debt-to-equity ratio of 331.884.
Recent Earnings
Travere reported revenue of $536.2 million, showing a robust growth rate of 55.6%. Despite this, the company posted a net margin of -3.995% and a return on equity of -69.383%. The company expects to report its next earnings on August 6, 2026.
Insider Buying and Selling at Travere Therapeutics, Inc.
In May 2026, several insiders made significant purchases of Travere stock. Gary Lyons bought a total of 16,000 shares, while Sandra Poole, Suzanne Louise Bruhn, John Orwin, and Ron Squarer each acquired 12,000 shares. These transactions were not part of planned trading programs.
Analysts Set New Price Targets
On June 15, 2026, Citigroup maintained its buy rating with a $70 target. Earlier, Wells Fargo reaffirmed its buy rating with a $65 target on June 12, and HC Wainwright & Co. held its buy rating with a $67 target on June 2. The consensus among 14 analysts is a strong buy, with an average price target of $56.14.
About Travere Therapeutics
Travere Therapeutics, Inc., headquartered in San Diego, California, is a biopharmaceutical company focused on developing treatments for rare kidney and metabolic diseases. Led by CEO Dr. Eric M. Dube, the company employs 497 people. Travere's key products include FILSPARI, an oral medication for IgA Nephropathy, and Thiola for cystinuria. The company's pipeline features Sparsentan, an investigational drug with Orphan Drug Designation, and Pegtibatinase for classical homocystinuria.
Bottom Line
Citigroup's reiterated buy rating and $70 price target reflect optimism in Travere Therapeutics' potential. Investors closely watch such analyst opinions as they often indicate confidence in future performance. However, it's important to remember that these ratings are based on past data and projections, which may not capture future market conditions.
See Also
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