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

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) have been given an average recommendation of “Moderate Buy” by the fifteen analysts that are presently covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $18.00.

Several equities analysts have recently weighed in on TVTX shares. Piper Sandler lifted their price objective on Travere Therapeutics from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Thursday, January 18th. HC Wainwright boosted their target price on Travere Therapeutics from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Wedbush restated an “outperform” rating and issued a $13.00 target price on shares of Travere Therapeutics in a research note on Wednesday, April 17th. Guggenheim restated a “neutral” rating on shares of Travere Therapeutics in a research note on Wednesday, March 27th. Finally, Wells Fargo & Company boosted their target price on Travere Therapeutics from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Friday, February 16th.

Insider Transactions at Travere Therapeutics

In related news, CFO Christopher R. Cline sold 3,818 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $8.53, for a total transaction of $32,567.54. Following the transaction, the chief financial officer now directly owns 70,903 shares of the company’s stock, valued at approximately $604,802.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Christopher R. Cline sold 3,818 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $8.53, for a total transaction of $32,567.54. Following the transaction, the chief financial officer now directly owns 70,903 shares of the company’s stock, valued at approximately $604,802.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP William E. Rote sold 4,764 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $8.71, for a total value of $41,494.44. Following the transaction, the senior vice president now directly owns 80,720 shares in the company, valued at $703,071.20. The disclosure for this sale can be found here. Insiders have sold a total of 34,773 shares of company stock worth $300,625 in the last 90 days. Corporate insiders own 3.75% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TVTX. Avidity Partners Management LP acquired a new position in Travere Therapeutics in the 3rd quarter valued at $11,828,000. Kynam Capital Management LP grew its holdings in Travere Therapeutics by 105.6% in the 4th quarter. Kynam Capital Management LP now owns 2,000,000 shares of the company’s stock valued at $17,980,000 after buying an additional 1,027,398 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Travere Therapeutics in the 4th quarter valued at $5,711,000. Finepoint Capital LP grew its holdings in Travere Therapeutics by 60.2% in the 4th quarter. Finepoint Capital LP now owns 1,435,321 shares of the company’s stock valued at $12,904,000 after buying an additional 539,500 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Travere Therapeutics by 10.9% in the 3rd quarter. Vanguard Group Inc. now owns 4,667,458 shares of the company’s stock valued at $41,727,000 after buying an additional 460,176 shares in the last quarter.

Travere Therapeutics Price Performance

Travere Therapeutics stock opened at $5.26 on Wednesday. The firm has a market capitalization of $400.34 million, a P/E ratio of -3.27 and a beta of 0.58. Travere Therapeutics has a 1 year low of $5.12 and a 1 year high of $22.75. The business has a 50-day moving average of $7.28 and a 200-day moving average of $7.65. The company has a current ratio of 3.47, a quick ratio of 3.41 and a debt-to-equity ratio of 1.88.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings data on Thursday, February 15th. The company reported ($1.16) earnings per share for the quarter, beating the consensus estimate of ($1.27) by $0.11. Travere Therapeutics had a negative return on equity of 177.97% and a negative net margin of 56.02%. The business had revenue of $45.06 million for the quarter, compared to analysts’ expectations of $41.25 million. On average, equities analysts anticipate that Travere Therapeutics will post -3.1 EPS for the current year.

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.