Leerink Partners Has Lowered Expectations for Travere Therapeutics (NASDAQ:TVTX) Stock Price

Travere Therapeutics (NASDAQ:TVTX) had its price objective reduced by equities research analysts at Leerink Partners from $78.00 to $67.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Leerink Partners‘s price target indicates a potential upside of 35.08% from the stock’s current price.

TVTX has been the topic of several other reports. Canaccord Genuity Group boosted their price target on shares of Travere Therapeutics from $70.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Travere Therapeutics in a report on Friday, September 18th. Wedbush reissued an “outperform” rating and set a $76.00 price objective on shares of Travere Therapeutics in a research report on Tuesday, September 22nd. Zacks Research downgraded Travere Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 20th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $67.00 target price on shares of Travere Therapeutics in a research report on Tuesday, September 22nd. Eleven analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $68.45.

Travere Therapeutics Stock Performance

Shares of NASDAQ:TVTX traded up $0.73 during trading on Thursday, hitting $49.60. 1,006,200 shares of the company traded hands, compared to its average volume of 2,096,064. The company has a quick ratio of 3.99, a current ratio of 4.05 and a debt-to-equity ratio of 24.58. The business’s fifty day moving average is $57.40 and its 200-day moving average is $47.00. The stock has a market capitalization of $4.68 billion, a price-to-earnings ratio of -38.45 and a beta of 1.11. Travere Therapeutics has a one year low of $22.59 and a one year high of $68.73.

Travere Therapeutics (NASDAQ:TVTX) last posted its earnings results on Monday, November 2nd. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.49). The business had revenue of $224.56 million during the quarter, compared to analyst estimates of $195.29 million. Travere Therapeutics had a negative net margin of 18.66% and a negative return on equity of 152.48%. The firm’s revenue was up 36.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.28 earnings per share. As a group, equities analysts predict that Travere Therapeutics will post -0.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Peter Heerma sold 8,282 shares of Travere Therapeutics stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $65.07, for a total value of $538,909.74. Following the completion of the sale, the executive vice president owned 117,066 shares of the company’s stock, valued at approximately $7,617,484.62. The trade was a 6.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Eric Dube sold 243,735 shares of the company’s stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $53.82, for a total transaction of $13,117,817.70. Following the completion of the sale, the chief executive officer owned 432,886 shares of the company’s stock, valued at $23,297,924.52. This represents a 36.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 1,294,029 shares of company stock valued at $79,454,261. 4.44% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TVTX. Diversified Trust Co raised its stake in shares of Travere Therapeutics by 4.5% in the 3rd quarter. Diversified Trust Co now owns 36,874 shares of the company’s stock valued at $2,171,000 after acquiring an additional 1,593 shares in the last quarter. Aberdeen Group plc boosted its position in Travere Therapeutics by 483.3% during the third quarter. Aberdeen Group plc now owns 728,295 shares of the company’s stock worth $42,882,000 after purchasing an additional 603,440 shares during the period. JW Asset Management LLC boosted its position in Travere Therapeutics by 50.0% during the third quarter. JW Asset Management LLC now owns 45,000 shares of the company’s stock worth $2,650,000 after purchasing an additional 15,000 shares during the period. Allworth Financial LP grew its holdings in Travere Therapeutics by 98.7% during the third quarter. Allworth Financial LP now owns 1,657 shares of the company’s stock valued at $94,000 after purchasing an additional 823 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Travere Therapeutics by 96.6% in the third quarter. Russell Investments Group Ltd. now owns 778,340 shares of the company’s stock valued at $45,829,000 after purchasing an additional 382,371 shares during the period.

Key Travere Therapeutics News

Here are the key news stories impacting Travere Therapeutics this week:

• Positive Sentiment: Canaccord Genuity raised its price target to $72 from $70 and maintained a Buy rating, signaling continued confidence in the shares. Article: Travere Therapeutics Stock Gets Price Target Increase from Canaccord Genuity Group
• Positive Sentiment: HC Wainwright kept its Buy rating and $67 target while raising its earnings forecasts for 2027–2030, including its 2030 EPS estimate to $6.84 from $5.73. The revisions point to stronger expected longer-term earnings.
• Neutral Sentiment: Analyst actions were mixed: Leerink Partners cut its target to $67 from $78 but retained an Outperform rating, while Guggenheim also lowered its target; the report provided no revised figure. Article: Travere Therapeutics Stock Price Target Cut by Guggenheim
• Negative Sentiment: Travere’s latest quarterly results missed sharply on earnings: EPS was a loss of $0.55 versus the expected loss of $0.06. Revenue beat estimates at $224.56 million and rose 36.2% year over year, but the earnings shortfall contributed to reports of a post-results share-price gap down. Article: Travere Therapeutics Shares Gap Down After Earnings Miss

About Travere Therapeutics

Travere Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare diseases, with an emphasis on serious kidney conditions. The company’s work centers on addressing diseases with limited treatment options and improving outcomes for patients with progressive renal disorders.

Travere’s lead commercial product is FILSPARI (sparsentan), an oral treatment for adults with primary immunoglobulin A nephropathy (IgA nephropathy) who are at risk of disease progression.