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

Travere Therapeutics, Inc. (NASDAQ:TVTX) has been given a consensus recommendation of “Moderate Buy” by the sixteen brokerages that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $34.20.

TVTX has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Travere Therapeutics in a report on Saturday, September 27th. Wells Fargo & Company lifted their target price on Travere Therapeutics from $27.00 to $35.00 and gave the stock an “overweight” rating in a research report on Thursday, September 11th. HC Wainwright reiterated a “buy” rating and issued a $47.00 price target on shares of Travere Therapeutics in a report on Friday, September 19th. Wall Street Zen raised Travere Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Citigroup restated a “buy” rating on shares of Travere Therapeutics in a report on Sunday, August 10th.

Travere Therapeutics Price Performance

TVTX opened at $24.64 on Wednesday. The company’s 50-day simple moving average is $20.18 and its two-hundred day simple moving average is $17.85. The company has a debt-to-equity ratio of 9.50, a quick ratio of 1.98 and a current ratio of 2.00. The stock has a market capitalization of $2.20 billion, a P/E ratio of -12.08 and a beta of 0.83. Travere Therapeutics has a 52-week low of $12.91 and a 52-week high of $28.69.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.14. Travere Therapeutics had a negative return on equity of 717.68% and a negative net margin of 50.64%.The firm had revenue of $94.84 million during the quarter, compared to analyst estimates of $100.18 million. During the same quarter in the prior year, the company posted ($0.65) earnings per share. The business’s quarterly revenue was up 111.5% compared to the same quarter last year. As a group, analysts predict that Travere Therapeutics will post -1.4 EPS for the current year.

Insider Transactions at Travere Therapeutics

In other news, insider Elizabeth E. Reed sold 10,000 shares of the business’s stock in a transaction 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 directly owned 89,878 shares of the company’s stock, valued at approximately $2,246,950. The trade was a 10.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last quarter, insiders sold 10,573 shares of company stock worth $260,608. 4.06% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TVTX. Squarepoint Ops LLC boosted its holdings in Travere Therapeutics by 98.7% in the second quarter. Squarepoint Ops LLC now owns 479,394 shares of the company’s stock worth $7,095,000 after acquiring an additional 238,070 shares in the last quarter. Headlands Technologies LLC acquired a new position in Travere Therapeutics during the second quarter valued at $73,000. Tower Research Capital LLC TRC boosted its holdings in Travere Therapeutics by 609.4% in the second quarter. Tower Research Capital LLC TRC now owns 24,998 shares of the company’s stock valued at $370,000 after purchasing an additional 21,474 shares during the last quarter. Perceptive Advisors LLC acquired a new stake in Travere Therapeutics during the 2nd quarter worth about $12,347,000. Finally, Man Group plc raised its stake in shares of Travere Therapeutics by 185.0% during the 2nd quarter. Man Group plc now owns 139,044 shares of the company’s stock valued at $2,058,000 after buying an additional 90,265 shares during the last quarter.

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.