Travere Therapeutics, Inc. (NASDAQ:TVTX) Receives $48.92 Consensus Target Price from Brokerages

Travere Therapeutics, Inc. (NASDAQ:TVTX) has been given an average recommendation of “Moderate Buy” by the thirteen research firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and ten have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $50.1667.

A number of research firms have commented on TVTX. Citigroup increased their price objective on shares of Travere Therapeutics from $59.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday, June 3rd. HC Wainwright increased their price objective on shares of Travere Therapeutics from $57.00 to $67.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. JPMorgan Chase & Co. reduced their price objective on shares of Travere Therapeutics from $44.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 25th. Wedbush reiterated an “outperform” rating and set a $55.00 price objective on shares of Travere Therapeutics in a research note on Wednesday, June 3rd. Finally, Wells Fargo & Company raised their price target on shares of Travere Therapeutics from $50.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday.

Insider Buying and Selling

In other news, CAO Sandra Calvin sold 21,977 shares of the firm’s stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $41.07, for a total value of $902,595.39. Following the transaction, the chief accounting officer directly owned 42,353 shares in the company, valued at approximately $1,739,437.71. This trade represents a 34.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Roy D. Baynes sold 32,750 shares of the firm’s stock in a transaction dated Tuesday, April 14th. The stock was sold at an average price of $41.29, for a total transaction of $1,352,247.50. Following the completion of the transaction, the director owned 37,500 shares in the company, valued at approximately $1,548,375. The trade was a 46.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 390,015 shares of company stock worth $15,614,528. Company insiders own 4.44% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TVTX. State Street Corp lifted its position in shares of Travere Therapeutics by 47.8% in the 4th quarter. State Street Corp now owns 4,756,666 shares of the company’s stock worth $181,752,000 after buying an additional 1,538,827 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Travere Therapeutics by 3,331.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,201,469 shares of the company’s stock worth $28,715,000 after acquiring an additional 1,166,460 shares during the period. Fiera Capital Corp acquired a new stake in shares of Travere Therapeutics in the 4th quarter worth about $33,398,000. Perceptive Advisors LLC acquired a new stake in shares of Travere Therapeutics in the 2nd quarter worth about $12,347,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Travere Therapeutics in the 2nd quarter worth about $10,348,000.

Travere Therapeutics Stock Performance

NASDAQ TVTX opened at $52.04 on Monday. Travere Therapeutics has a 12 month low of $13.88 and a 12 month high of $52.72. The company has a debt-to-equity ratio of 3.16, a current ratio of 3.13 and a quick ratio of 3.08. The company has a market capitalization of $4.84 billion, a price-to-earnings ratio of -226.25 and a beta of 1.13. The company’s fifty day moving average price is $41.70 and its two-hundred day moving average price is $35.26.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings data on Monday, May 4th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.29. Travere Therapeutics had a negative net margin of 4.00% and a negative return on equity of 26.16%. The firm had revenue of $127.20 million for the quarter, compared to the consensus estimate of $136.23 million. During the same period in the prior year, the firm posted ($0.47) EPS. The firm’s revenue was up 55.6% compared to the same quarter last year. As a group, research analysts predict that Travere Therapeutics will post -0.29 earnings per share for the current fiscal year.

Travere Therapeutics Company Profile

Travere Therapeutics, Inc (NASDAQ: TVTX) is a biopharmaceutical company headquartered in San Diego, California, dedicated to the development and commercialization of therapies for rare kidney and genetic disorders. The company’s mission is to address unmet needs in conditions with limited treatment options by focusing on diseases that affect small patient populations. Travere combines research, development and commercial capabilities to bring innovative medicines to market.

The company’s lead product is sparsentan, a dual endothelin angiotensin receptor antagonist that has received accelerated approval from the U.S.