Travere Therapeutics (NASDAQ:TVTX) Downgraded to Buy Rating by Wall Street Zen

Wall Street Zen lowered shares of Travere Therapeutics (NASDAQ:TVTX) from a strong-buy rating to a buy rating in a report published on Saturday morning.

Other equities analysts have also issued reports about the company. Zacks Research lowered Travere Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. Piper Sandler increased their price target on shares of Travere Therapeutics from $26.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday, November 4th. Scotiabank reissued an “outperform” rating on shares of Travere Therapeutics in a research note on Thursday, August 7th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Travere Therapeutics in a research note on Wednesday, October 8th. Finally, Stifel Nicolaus increased their target price on shares of Travere Therapeutics from $20.00 to $25.00 and gave the company a “hold” rating in a report on Friday, September 12th. Thirteen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $38.71.

Travere Therapeutics Trading Down 1.9%

Shares of TVTX opened at $35.58 on Friday. Travere Therapeutics has a 1-year low of $12.91 and a 1-year high of $37.50. The company has a market capitalization of $3.18 billion, a P/E ratio of -17.44 and a beta of 0.90. The company has a debt-to-equity ratio of 9.50, a current ratio of 2.00 and a quick ratio of 1.98. The firm’s 50 day simple moving average is $30.04 and its 200 day simple moving average is $21.65.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings results on Thursday, October 30th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.59. The business had revenue of $164.86 million during the quarter, compared to analysts’ expectations of $106.09 million. Travere Therapeutics had a negative net margin of 50.64% and a negative return on equity of 717.68%. The business’s quarterly revenue was up 162.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.70) EPS. 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, insider Elizabeth E. Reed sold 10,000 shares of the business’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $25.00, for a total value of $250,000.00. Following the transaction, the insider owned 89,878 shares in the company, valued at approximately $2,246,950. The trade was a 10.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sandra Calvin sold 67,115 shares of the company’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $36.00, for a total transaction of $2,416,140.00. Following the transaction, the chief accounting officer directly owned 48,545 shares of the company’s stock, valued at approximately $1,747,620. This trade represents a 58.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 223,941 shares of company stock valued at $7,221,380 over the last quarter. Company insiders own 4.19% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TVTX. Penn Capital Management Company LLC grew its position in shares of Travere Therapeutics by 39.7% in the 3rd quarter. Penn Capital Management Company LLC now owns 27,004 shares of the company’s stock worth $645,000 after buying an additional 7,680 shares during the last quarter. CIBC Bancorp USA Inc. bought a new position in shares of Travere Therapeutics during the third quarter valued at approximately $225,000. PharVision Advisers LLC bought a new position in shares of Travere Therapeutics during the third quarter valued at approximately $210,000. Voloridge Investment Management LLC lifted its stake in Travere Therapeutics by 18.7% in the third quarter. Voloridge Investment Management LLC now owns 883,672 shares of the company’s stock worth $21,120,000 after acquiring an additional 139,018 shares during the period. Finally, Quarry LP boosted its holdings in Travere Therapeutics by 113.7% in the third quarter. Quarry LP now owns 14,960 shares of the company’s stock valued at $358,000 after acquiring an additional 7,960 shares in the last quarter.

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.