Travere Therapeutics (NASDAQ:TVTX) Coverage Initiated at Cantor Fitzgerald

Research analysts at Cantor Fitzgerald began coverage on shares of Travere Therapeutics (NASDAQ:TVTX) in a report released on Friday, Marketbeat.com reports. The brokerage set an “overweight” rating on the stock.

TVTX has been the subject of several other reports. Scotiabank upped their price target on Travere Therapeutics from $23.00 to $27.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. increased 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. Guggenheim boosted their price objective on Travere Therapeutics from $23.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Barclays increased their target price on Travere Therapeutics from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Finally, Wells Fargo & Company raised Travere Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $9.00 to $27.00 in a research report on Monday, October 21st. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $23.67.

Travere Therapeutics Trading Down 4.8 %

Shares of Travere Therapeutics stock opened at $18.09 on Friday. Travere Therapeutics has a fifty-two week low of $5.12 and a fifty-two week high of $20.33. The business’s fifty day moving average is $18.21 and its two-hundred day moving average is $14.17. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 24.96. The firm has a market cap of $1.41 billion, a PE ratio of -3.98 and a beta of 0.70.

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

Insider Activity at Travere Therapeutics

In other news, CAO Sandra Calvin sold 15,000 shares of Travere Therapeutics stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $17.22, for a total value of $258,300.00. Following the completion of the transaction, the chief accounting officer now owns 54,927 shares in the company, valued at approximately $945,842.94. This trade represents a 21.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jula Inrig sold 2,066 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $19.10, for a total value of $39,460.60. Following the sale, the insider now directly owns 59,883 shares in the company, valued at approximately $1,143,765.30. This represents a 3.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,596 shares of company stock valued at $527,262 over the last ninety days. Corporate insiders own 3.75% of the company’s stock.

Institutional Trading of Travere Therapeutics

Several hedge funds have recently made changes to their positions in TVTX. CWM LLC increased its position in Travere Therapeutics by 158.5% in 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 period. DRW Securities LLC acquired a new stake in Travere Therapeutics in the 2nd quarter valued at about $95,000. Quarry LP bought a new position in shares of Travere Therapeutics during the 3rd quarter valued at about $105,000. Forefront Analytics LLC grew its position in Travere Therapeutics by 10.2% in the second quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock worth $109,000 after buying an additional 1,237 shares during the last quarter. Finally, Sei Investments Co. acquired a new stake in shares of Travere Therapeutics during the second quarter worth $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.