Research Analysts Issue Forecasts for TVTX FY2024 Earnings

Travere Therapeutics, Inc. (NASDAQ:TVTX) – Equities research analysts at HC Wainwright reduced their FY2024 earnings per share (EPS) estimates for shares of Travere Therapeutics in a research report issued on Wednesday, January 15th. HC Wainwright analyst E. Arce now forecasts that the company will post earnings of ($3.96) per share for the year, down from their previous forecast of ($3.84). HC Wainwright currently has a “Buy” rating and a $22.00 target price on the stock. The consensus estimate for Travere Therapeutics’ current full-year earnings is ($3.92) per share. HC Wainwright also issued estimates for Travere Therapeutics’ Q4 2024 earnings at ($0.59) EPS, Q1 2025 earnings at ($0.43) EPS, Q2 2025 earnings at ($0.24) EPS, Q3 2025 earnings at ($0.20) EPS, Q4 2025 earnings at ($0.04) EPS, FY2025 earnings at ($0.90) EPS, FY2026 earnings at ($0.67) EPS, FY2027 earnings at $0.57 EPS and FY2028 earnings at $2.48 EPS.

A number of other research analysts also recently issued reports on TVTX. Wedbush lifted their price target on shares of Travere Therapeutics from $17.00 to $25.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. Scotiabank increased their price objective on Travere Therapeutics from $23.00 to $27.00 and gave the company a “sector outperform” rating in a report on Friday, November 1st. Cantor Fitzgerald initiated coverage on Travere Therapeutics in a report on Friday, January 10th. They set an “overweight” rating on the stock. Canaccord Genuity Group dropped their price objective on shares of Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Finally, Bank of America increased their target price on Travere Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $24.00.

Travere Therapeutics Trading Down 0.5 %

TVTX opened at $18.37 on Friday. 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 $1.43 billion, a P/E ratio of -4.04 and a beta of 0.70. The business has a fifty day simple moving average of $18.24 and a 200-day simple moving average of $14.40. Travere Therapeutics has a 52 week low of $5.12 and a 52 week high of $20.33.

Travere Therapeutics (NASDAQ:TVTX) last issued its earnings results on Thursday, October 31st. The company reported ($0.70) EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $60.87 million. During the same period in the prior year, the business earned ($1.17) earnings per share. The company’s quarterly revenue was up 69.6% compared to the same quarter last year.

Insider Buying and Selling

In related news, CAO Sandra Calvin sold 12,090 shares of Travere Therapeutics stock in a transaction on Monday, November 25th. The stock was sold at an average price of $18.30, for a total value of $221,247.00. Following the transaction, the chief accounting officer now owns 54,927 shares in the company, valued at approximately $1,005,164.10. This trade represents a 18.04 % decrease in their ownership of the stock. 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 dated Friday, January 3rd. The stock was sold at an average price of $19.10, for a total value of $39,460.60. Following the sale, the insider now owns 59,883 shares of the company’s stock, valued at $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. Over the last quarter, insiders sold 29,596 shares of company stock valued at $527,262. Insiders own 3.75% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Millennium Management LLC increased its position in shares of Travere Therapeutics by 33.9% in the second quarter. Millennium Management LLC now owns 2,949,335 shares of the company’s stock worth $24,244,000 after acquiring an additional 747,406 shares in the last quarter. Emerald Advisers LLC boosted its position in Travere Therapeutics by 19.8% during the 3rd quarter. Emerald Advisers LLC now owns 1,960,659 shares of the company’s stock worth $27,430,000 after purchasing an additional 323,513 shares during the period. Finepoint Capital LP increased its holdings in Travere Therapeutics by 0.3% in the 3rd quarter. Finepoint Capital LP now owns 1,782,267 shares of the company’s stock valued at $24,934,000 after purchasing an additional 5,539 shares in the last quarter. Geode Capital Management LLC raised its position in Travere Therapeutics by 3.9% in the third quarter. Geode Capital Management LLC now owns 1,731,045 shares of the company’s stock valued at $24,222,000 after purchasing an additional 64,744 shares during the period. Finally, Emerald Mutual Fund Advisers Trust lifted its stake in shares of Travere Therapeutics by 26.0% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 1,185,709 shares of the company’s stock worth $16,588,000 after purchasing an additional 244,444 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.