Travere Therapeutics, Inc. (NASDAQ:TVTX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Travere Therapeutics, Inc. (NASDAQ:TVTX) has received a consensus rating of “Moderate Buy” from the thirteen brokerages that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $24.00.

A number of equities research analysts recently weighed in on the company. Piper Sandler raised their price target on Travere Therapeutics from $12.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Bank of America raised their price target on Travere Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. HC Wainwright raised their price target on Travere Therapeutics from $18.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. Leerink Partners restated an “outperform” rating and set a $20.00 target price on shares of Travere Therapeutics in a research report on Tuesday, October 8th. Finally, Barclays boosted their target price on Travere Therapeutics from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st.

Travere Therapeutics Price Performance

Travere Therapeutics stock opened at $20.81 on Friday. The company has a debt-to-equity ratio of 24.96, a current ratio of 1.71 and a quick ratio of 1.68. The company has a market capitalization of $1.62 billion, a PE ratio of -4.57 and a beta of 0.70. Travere Therapeutics has a one year low of $5.12 and a one year high of $20.89. The business has a 50 day simple moving average of $18.28 and a 200 day simple moving average of $14.79.

Travere Therapeutics (NASDAQ:TVTX) last posted its earnings results on Thursday, October 31st. The company reported ($0.70) EPS for the quarter, topping the consensus estimate of ($0.71) by $0.01. The business had revenue of $62.90 million during the quarter, compared to the consensus estimate of $60.87 million. Travere Therapeutics had a negative return on equity of 537.74% and a negative net margin of 172.75%. Travere Therapeutics’s revenue was up 69.6% on a year-over-year basis. During the same quarter last year, the company earned ($1.17) EPS. On average, sell-side analysts forecast that Travere Therapeutics will post -3.92 EPS for the current fiscal year.

Insider Transactions at Travere Therapeutics

In other news, insider Peter Heerma sold 1,584 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $18.94, for a total transaction of $30,000.96. Following the completion of the transaction, the insider now directly owns 106,374 shares of the company’s stock, valued at $2,014,723.56. This represents a 1.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP William E. Rote sold 2,437 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $19.46, for a total value of $47,424.02. Following the transaction, the senior vice president now directly owns 83,170 shares of the company’s stock, valued at $1,618,488.20. This represents a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 62,143 shares of company stock valued at $1,167,512 over the last three months. Company insiders own 3.75% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TVTX. Millennium Management LLC raised its stake in Travere Therapeutics by 33.9% in the second quarter. Millennium Management LLC now owns 2,949,335 shares of the company’s stock valued at $24,244,000 after buying an additional 747,406 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Travere Therapeutics by 203.0% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 615,000 shares of the company’s stock valued at $5,055,000 after buying an additional 412,000 shares during the period. Emerald Advisers LLC raised its stake in Travere Therapeutics by 19.8% in the third quarter. Emerald Advisers LLC now owns 1,960,659 shares of the company’s stock valued at $27,430,000 after buying an additional 323,513 shares during the period. Emerald Mutual Fund Advisers Trust raised its stake in Travere Therapeutics by 26.0% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 1,185,709 shares of the company’s stock valued at $16,588,000 after buying an additional 244,444 shares during the period. Finally, Walleye Capital LLC raised its stake in Travere Therapeutics by 70.1% in the third quarter. Walleye Capital LLC now owns 488,453 shares of the company’s stock valued at $6,833,000 after buying an additional 201,282 shares during the period.

Travere Therapeutics Company Profile

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.