Travere Therapeutics (NASDAQ:TVTX) Stock Price Down 3.3%

Travere Therapeutics, Inc. (NASDAQ:TVTX) shares traded down 3.3% on Friday . The company traded as low as $7.98 and last traded at $8.01. 233,480 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 1,224,588 shares. The stock had previously closed at $8.28.

Wall Street Analysts Forecast Growth

TVTX has been the subject of a number of recent research reports. Guggenheim reiterated a “neutral” rating on shares of Travere Therapeutics in a research report on Wednesday, March 27th. HC Wainwright reiterated a “buy” rating and set a $19.00 price objective on shares of Travere Therapeutics in a research report on Tuesday, May 7th. Wedbush restated an “outperform” rating and issued a $13.00 target price on shares of Travere Therapeutics in a report on Wednesday, April 17th. Finally, Canaccord Genuity Group increased their target price on Travere Therapeutics from $15.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Travere Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $15.58.

Travere Therapeutics Stock Performance

The company has a quick ratio of 2.75, a current ratio of 2.78 and a debt-to-equity ratio of 5.10. The stock’s 50 day moving average price is $6.77 and its two-hundred day moving average price is $7.71.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings results on Monday, May 6th. The company reported ($1.76) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.98) by ($0.78). The company had revenue of $41.40 million during the quarter, compared to analyst estimates of $43.46 million. Travere Therapeutics had a negative return on equity of 238.06% and a negative net margin of 87.94%. The company’s revenue was up 34.0% compared to the same quarter last year. During the same period last year, the company posted ($1.27) earnings per share. On average, sell-side analysts predict that Travere Therapeutics, Inc. will post -3.92 EPS for the current year.

Hedge Funds Weigh In On Travere Therapeutics

Several hedge funds have recently bought and sold shares of the business. Bayesian Capital Management LP acquired a new position in Travere Therapeutics during the first quarter worth $177,000. Price T Rowe Associates Inc. MD increased its position in Travere Therapeutics by 10.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 31,009 shares of the company’s stock worth $240,000 after buying an additional 2,948 shares during the last quarter. Affinity Asset Advisors LLC acquired a new position in Travere Therapeutics during the first quarter worth $964,000. EntryPoint Capital LLC bought a new stake in Travere Therapeutics during the first quarter valued at about $32,000. Finally, Acadian Asset Management LLC bought a new stake in Travere Therapeutics during the first quarter valued at about $368,000.

About Travere Therapeutics

Travere Therapeutics, Inc, a biopharmaceutical company, identifies, develops, and delivers therapies to people living with rare kidney and metabolic diseases. Its products include FILSPARI (sparsentan), a once-daily, oral medication designed to target two critical pathways in the disease progression of IgA Nephropathy (endothelin 1 and angiotensin-II); and Thiola and Thiola EC (tiopronin tablets) for the treatment of cystinuria, a rare genetic cystine transport disorder that causes high cystine levels in the urine and the formation of recurring kidney stones.