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

Travere Therapeutics, Inc. (NASDAQ:TVTX) has been assigned an average recommendation of “Moderate Buy” from the sixteen research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $34.20.

A number of research firms have weighed in on TVTX. Stifel Nicolaus lifted their price target on shares of Travere Therapeutics from $20.00 to $25.00 and gave the stock a “hold” rating in a research note on Friday, September 12th. Wells Fargo & Company upped their price target on Travere Therapeutics from $27.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday, September 11th. Citigroup reiterated a “buy” rating on shares of Travere Therapeutics in a report on Sunday, August 10th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Travere Therapeutics in a report on Saturday, September 27th. Finally, Scotiabank restated an “outperform” rating on shares of Travere Therapeutics in a research note on Thursday, August 7th.

Travere Therapeutics Stock Performance

NASDAQ:TVTX opened at $24.64 on Wednesday. The company has a current ratio of 2.00, a quick ratio of 1.98 and a debt-to-equity ratio of 9.50. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of -12.08 and a beta of 0.83. The company has a 50-day moving average of $20.18 and a 200-day moving average of $17.85. Travere Therapeutics has a twelve month low of $12.91 and a twelve month high of $28.69.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.14. The business had revenue of $94.84 million for the quarter, compared to analysts’ expectations of $100.18 million. Travere Therapeutics had a negative net margin of 50.64% and a negative return on equity of 717.68%. Travere Therapeutics’s revenue was up 111.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.65) EPS. Analysts forecast that Travere Therapeutics will post -1.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Elizabeth E. Reed sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $25.00, for a total value of $250,000.00. Following the completion of the transaction, the insider owned 89,878 shares of the company’s stock, valued at $2,246,950. This represents a 10.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last ninety days, insiders have sold 10,573 shares of company stock valued at $260,608. 4.06% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Travere Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System increased its position in Travere Therapeutics by 10.8% in the 4th quarter. California State Teachers Retirement System now owns 72,192 shares of the company’s stock valued at $1,258,000 after buying an additional 7,041 shares in the last quarter. Wellington Management Group LLP purchased a new position in Travere Therapeutics in the fourth quarter valued at about $583,000. GAMMA Investing LLC lifted its holdings in Travere Therapeutics by 5,072.9% during the first quarter. GAMMA Investing LLC now owns 10,501 shares of the company’s stock valued at $188,000 after purchasing an additional 10,298 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Travere Therapeutics by 2.7% during the 1st quarter. Rhumbline Advisers now owns 124,550 shares of the company’s stock valued at $2,232,000 after purchasing an additional 3,302 shares during the period. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Travere Therapeutics in the first quarter worth $182,000.

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.