Travere Therapeutics (NASDAQ:TVTX) Earns “Overweight” Rating from Cantor Fitzgerald

Travere Therapeutics (NASDAQ:TVTX)‘s stock had its “overweight” rating restated by research analysts at Cantor Fitzgerald in a note issued to investors on Thursday,Benzinga reports.

Several other analysts have also issued reports on the company. JPMorgan Chase & Co. increased their price objective on Travere Therapeutics from $42.00 to $44.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Canaccord Genuity Group boosted their price target on Travere Therapeutics from $22.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Citigroup increased their price target on shares of Travere Therapeutics from $31.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, February 24th. Scotiabank lifted their price objective on shares of Travere Therapeutics from $27.00 to $32.00 and gave the company a “sector outperform” rating in a research note on Wednesday, February 12th. Finally, HC Wainwright increased their target price on shares of Travere Therapeutics from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $31.46.

Travere Therapeutics Stock Performance

Shares of NASDAQ TVTX opened at $14.99 on Thursday. 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 stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of -3.66 and a beta of 0.84. The stock’s fifty day simple moving average is $20.48 and its 200 day simple moving average is $18.58. Travere Therapeutics has a 52-week low of $5.12 and a 52-week high of $25.29.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.15). Travere Therapeutics had a negative return on equity of 1,636.87% and a negative net margin of 137.90%. The company had revenue of $74.79 million during the quarter, compared to analysts’ expectations of $72.38 million. As a group, sell-side analysts forecast that Travere Therapeutics will post -1.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Travere Therapeutics news, CEO Eric M. Dube sold 10,736 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $19.46, for a total value of $208,922.56. Following the transaction, the chief executive officer now directly owns 351,239 shares in the company, valued at $6,835,110.94. The trade was a 2.97 % 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, 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 sale, the insider now directly owns 106,374 shares in the company, valued at $2,014,723.56. This represents a 1.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 189,269 shares of company stock valued at $4,155,251 over the last ninety days. 3.75% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of TVTX. GF Fund Management CO. LTD. bought a new stake in Travere Therapeutics during the 4th quarter worth approximately $31,000. Sterling Capital Management LLC grew its holdings in shares of Travere Therapeutics by 859.8% during the fourth quarter. Sterling Capital Management LLC now owns 2,361 shares of the company’s stock worth $41,000 after purchasing an additional 2,115 shares during the last quarter. R Squared Ltd bought a new stake in shares of Travere Therapeutics during the fourth quarter worth $53,000. Gen Wealth Partners Inc acquired a new stake in shares of Travere Therapeutics in the fourth quarter valued at $73,000. Finally, Quarry LP bought a new position in shares of Travere Therapeutics in the third quarter valued at about $105,000.

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.