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

Travere Therapeutics, Inc. (NASDAQ:TVTX) has been given a consensus rating of “Moderate Buy” by the twelve ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $19.75.

TVTX has been the subject of a number of analyst reports. Bank of America boosted their price objective on shares of Travere Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Leerink Partners reissued an “outperform” rating and issued a $20.00 price target on shares of Travere Therapeutics in a report on Tuesday, October 8th. Piper Sandler raised their price objective on Travere Therapeutics from $11.00 to $12.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Barclays raised their target price on shares of Travere Therapeutics from $14.00 to $18.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. boosted their price target on Travere Therapeutics from $20.00 to $23.00 and gave the company an “overweight” rating in a report on Friday, September 13th.

Travere Therapeutics Trading Up 1.4 %

TVTX opened at $17.69 on Wednesday. Travere Therapeutics has a fifty-two week low of $5.12 and a fifty-two week high of $18.60. The company has a market cap of $1.35 billion, a price-to-earnings ratio of -8.42 and a beta of 0.73. The company has a debt-to-equity ratio of 24.96, a current ratio of 3.04 and a quick ratio of 2.99. The firm has a 50 day simple moving average of $12.13 and a 200 day simple moving average of $9.12.

Travere Therapeutics (NASDAQ:TVTX) last posted 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 during 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%. On average, sell-side analysts anticipate that Travere Therapeutics will post -3.95 earnings per share for the current year.

Insider Buying and Selling at Travere Therapeutics

In other news, Director Gary A. Lyons sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $14.73, for a total transaction of $589,200.00. Following the sale, the director now owns 51,000 shares in the company, valued at $751,230. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Travere Therapeutics news, SVP William E. Rote sold 4,387 shares of the business’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 transaction of $50,538.24. Following the transaction, the senior vice president now owns 84,455 shares of the company’s stock, valued at $972,921.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gary A. Lyons sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $14.73, for a total value of $589,200.00. Following the completion of the sale, the director now owns 51,000 shares in the company, valued at $751,230. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 110,707 shares of company stock worth $1,504,312 over the last ninety days. 3.75% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Virtu Financial LLC bought a new stake in Travere Therapeutics in the 4th quarter valued at $175,000. Los Angeles Capital Management LLC acquired a new position in shares of Travere Therapeutics in the first quarter valued at about $720,000. Hennion & Walsh Asset Management Inc. increased its position in Travere Therapeutics by 14.4% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 40,790 shares of the company’s stock worth $314,000 after acquiring an additional 5,123 shares during the period. China Universal Asset Management Co. Ltd. increased its position in Travere Therapeutics by 68.6% during the first 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 period. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Travere Therapeutics by 8.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,178 shares of the company’s stock worth $387,000 after purchasing an additional 3,754 shares in the last quarter.

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.