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

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) have been assigned an average rating of “Moderate Buy” from the seventeen ratings firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $37.7857.

TVTX has been the topic of a number of research reports. Jefferies Financial Group set a $35.00 target price on shares of Travere Therapeutics in a research note on Wednesday, September 10th. Wells Fargo & Company raised their price objective on Travere Therapeutics from $27.00 to $35.00 and gave the company an “overweight” rating in a research report on Thursday, September 11th. Scotiabank reaffirmed an “outperform” rating on shares of Travere Therapeutics in a research report on Thursday, August 7th. Stifel Nicolaus upped their price target on Travere Therapeutics from $20.00 to $25.00 and gave the stock a “hold” rating in a report on Friday, September 12th. Finally, Citigroup increased their price objective on shares of Travere Therapeutics from $34.00 to $48.00 and gave the company a “buy” rating in a research report on Friday.

Insider Activity at Travere Therapeutics

In related news, CEO Eric M. Dube sold 27,128 shares of the business’s stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $30.12, for a total value of $817,095.36. Following the transaction, the chief executive officer owned 419,173 shares in the company, valued at approximately $12,625,490.76. The trade was a 6.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Elizabeth E. Reed sold 10,000 shares of Travere Therapeutics 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 sale, the insider owned 89,878 shares in the company, valued at $2,246,950. This represents a 10.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 133,235 shares of company stock valued at $3,979,015. Corporate insiders own 4.19% of the company’s stock.

Institutional Trading of Travere Therapeutics

A number of hedge funds have recently made changes to their positions in TVTX. Armistice Capital LLC boosted its stake in Travere Therapeutics by 20.6% during the 1st quarter. Armistice Capital LLC now owns 8,872,000 shares of the company’s stock valued at $158,986,000 after acquiring an additional 1,514,000 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its stake in shares of Travere Therapeutics by 27.4% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,784,000 shares of the company’s stock valued at $41,203,000 after purchasing an additional 599,102 shares in the last quarter. Driehaus Capital Management LLC lifted its position in shares of Travere Therapeutics by 24.8% during the first quarter. Driehaus Capital Management LLC now owns 2,767,693 shares of the company’s stock worth $49,597,000 after purchasing an additional 549,718 shares during the last quarter. Emerald Advisers LLC grew its stake in Travere Therapeutics by 2.6% in the third quarter. Emerald Advisers LLC now owns 2,146,767 shares of the company’s stock worth $51,308,000 after purchasing an additional 55,407 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Travere Therapeutics by 1.4% in the second quarter. Geode Capital Management LLC now owns 2,003,701 shares of the company’s stock valued at $29,658,000 after buying an additional 27,040 shares during the last quarter.

Travere Therapeutics Stock Up 18.6%

Shares of TVTX opened at $35.16 on Friday. The firm has a market cap of $3.13 billion, a PE ratio of -17.24 and a beta of 0.83. The company has a quick ratio of 1.98, a current ratio of 2.00 and a debt-to-equity ratio of 9.50. The company’s fifty day moving average is $24.50 and its two-hundred day moving average is $19.37. Travere Therapeutics has a fifty-two week low of $12.91 and a fifty-two week high of $35.34.

Travere Therapeutics (NASDAQ:TVTX) last issued its earnings results on Thursday, October 30th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.59. The firm had revenue of $113.15 million for the quarter, compared to analysts’ expectations of $106.09 million. Travere Therapeutics had a negative return on equity of 717.68% and a negative net margin of 50.64%.The firm’s revenue for the quarter was up 162.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.70) earnings per share. Analysts forecast that Travere Therapeutics will post -1.4 earnings per share for the current year.

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.