Travere Therapeutics, Inc. (NASDAQ:TVTX) Given Average Recommendation of “Moderate Buy” by Brokerages

Travere Therapeutics, Inc. (NASDAQ:TVTX) has earned an average recommendation of “Moderate Buy” from the twelve research firms that are covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $17.58.

Several research firms recently weighed in on TVTX. Piper Sandler boosted their price objective on Travere Therapeutics from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Wedbush boosted their price objective on Travere Therapeutics from $13.00 to $16.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Barclays boosted their price objective on Travere Therapeutics from $12.00 to $14.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Guggenheim raised Travere Therapeutics from a “neutral” rating to a “buy” rating and set a $25.00 price objective for the company in a research report on Monday, September 9th. Finally, HC Wainwright boosted their price objective on Travere Therapeutics from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, September 6th.

Travere Therapeutics Stock Performance

TVTX opened at $15.21 on Friday. The company has a market cap of $1.16 billion, a PE ratio of -7.24 and a beta of 0.71. The stock has a 50-day moving average of $10.09 and a 200-day moving average of $8.18. Travere Therapeutics has a 52-week low of $5.12 and a 52-week high of $15.26. The company has a debt-to-equity ratio of 24.96, a quick ratio of 2.99 and a current ratio of 3.04.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.87) by ($0.03). The company had revenue of $54.12 million for the quarter, compared to the consensus estimate of $49.50 million. Travere Therapeutics had a negative return on equity of 269.18% and a negative net margin of 82.14%. As a group, equities research analysts forecast that Travere Therapeutics will post -3.96 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Eric M. Dube sold 21,125 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $11.52, for a total value of $243,360.00. Following the sale, the chief executive officer now directly owns 361,975 shares in the company, valued at approximately $4,169,952. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Eric M. Dube sold 21,125 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $11.52, for a total value of $243,360.00. Following the sale, the chief executive officer now directly owns 361,975 shares in the company, valued at approximately $4,169,952. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jula Inrig sold 2,191 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $25,240.32. Following the completion of the sale, the insider now owns 62,633 shares in the company, valued at $721,532.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,707 shares of company stock worth $352,712. Company insiders own 3.75% of the company’s stock.

Institutional Investors Weigh In On Travere Therapeutics

A number of large investors have recently bought and sold shares of TVTX. EntryPoint Capital LLC bought a new stake in Travere Therapeutics during the 1st quarter worth approximately $32,000. DRW Securities LLC bought a new stake in Travere Therapeutics during the 2nd quarter worth approximately $95,000. Forefront Analytics LLC grew its position in Travere Therapeutics by 10.2% during the 2nd quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock worth $109,000 after acquiring an additional 1,237 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its position in Travere Therapeutics by 68.6% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 14,652 shares of the company’s stock worth $113,000 after acquiring an additional 5,962 shares during the last quarter. Finally, Sei Investments Co. bought a new stake in Travere Therapeutics during the 2nd quarter worth approximately $117,000.

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.