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

Travere Therapeutics, Inc. (NASDAQ:TVTX) has received an average recommendation of “Moderate Buy” from the twelve analysts that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $23.67.

TVTX has been the subject of several analyst reports. Guggenheim upped their target price on Travere Therapeutics from $23.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Citigroup decreased their target price on shares of Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating for the company in a report on Friday, September 27th. Wells Fargo & Company upgraded shares of Travere Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $9.00 to $27.00 in a report on Monday, October 21st. Barclays raised their price objective on shares of Travere Therapeutics from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Travere Therapeutics from $20.00 to $23.00 and gave the company an “overweight” rating in a research note on Friday, September 13th.

Travere Therapeutics Stock Down 2.8 %

Shares of TVTX stock opened at $17.28 on Monday. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71. The stock has a market cap of $1.35 billion, a PE ratio of -3.80 and a beta of 0.69. The business’s fifty day moving average is $18.11 and its 200-day moving average is $13.39. Travere Therapeutics has a 1 year low of $5.12 and a 1 year high of $20.33.

Travere Therapeutics (NASDAQ:TVTX) last released its earnings results on Thursday, October 31st. The company reported ($0.70) EPS for the quarter, beating the consensus estimate of ($0.71) by $0.01. The business had revenue of $62.90 million during the quarter, compared to analyst estimates of $60.87 million. Travere Therapeutics had a negative net margin of 172.75% and a negative return on equity of 537.74%. The business’s quarterly revenue was up 69.6% on a year-over-year basis. During the same period in the prior year, the business earned ($1.17) earnings per share. Equities analysts expect that Travere Therapeutics will post -3.94 earnings per share for the current fiscal year.

Insider Activity at Travere Therapeutics

In related news, CAO Sandra Calvin sold 15,000 shares of Travere Therapeutics stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $17.22, for a total value of $258,300.00. Following the transaction, the chief accounting officer now owns 54,927 shares in the company, valued at $945,842.94. This trade represents a 21.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gary A. Lyons sold 40,000 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were 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 of the company’s stock, valued at $751,230. This trade represents a 43.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 67,090 shares of company stock valued at $1,068,747. Insiders own 3.75% of the company’s stock.

Institutional Trading of Travere Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. CWM LLC lifted its holdings in shares of Travere Therapeutics by 158.5% during the third quarter. CWM LLC now owns 4,999 shares of the company’s stock worth $70,000 after buying an additional 3,065 shares during the last quarter. Quarry LP bought a new position in Travere Therapeutics during the third quarter worth $105,000. Diversified Trust Co bought a new position in Travere Therapeutics during the third quarter worth $161,000. DRW Securities LLC acquired a new position in shares of Travere Therapeutics during the second quarter valued at about $95,000. Finally, Aigen Investment Management LP bought a new stake in shares of Travere Therapeutics in the 3rd quarter worth approximately $170,000.

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.