Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX – Get Free Report) have been given a consensus rating of “Moderate Buy” by the thirteen analysts that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $52.0833.
A number of analysts have recently weighed in on TVTX shares. Citigroup boosted their price objective on shares of Travere Therapeutics from $62.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, June 15th. Canaccord Genuity Group raised their target price on shares of Travere Therapeutics from $47.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, April 14th. Piper Sandler upgraded shares of Travere Therapeutics from a “neutral” rating to an “overweight” rating and set a $49.00 target price on the stock in a report on Tuesday, April 14th. HC Wainwright boosted their target price on shares of Travere Therapeutics from $57.00 to $67.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Finally, Weiss Ratings lowered shares of Travere Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 23rd.
View Our Latest Research Report on TVTX
Travere Therapeutics Stock Performance
Travere Therapeutics (NASDAQ:TVTX – Get Free Report) last posted its earnings results on Monday, May 4th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.29. Travere Therapeutics had a negative return on equity of 26.16% and a negative net margin of 4.00%.The firm had revenue of $127.20 million during the quarter, compared to analyst estimates of $136.23 million. During the same period in the previous year, the company earned ($0.47) EPS. The company’s revenue for the quarter was up 55.6% on a year-over-year basis. As a group, equities research analysts expect that Travere Therapeutics will post -0.25 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Travere Therapeutics news, Director Roy D. Baynes sold 32,750 shares of the firm’s stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $41.29, for a total value of $1,352,247.50. Following the sale, the director owned 37,500 shares of the company’s stock, valued at $1,548,375. This trade represents a 46.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Elizabeth E. Reed sold 44,715 shares of Travere Therapeutics stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $41.21, for a total value of $1,842,705.15. Following the completion of the transaction, the insider directly owned 111,996 shares in the company, valued at approximately $4,615,355.16. This represents a 28.53% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 324,515 shares of company stock valued at $13,854,428 in the last ninety days. Company insiders own 4.44% of the company’s stock.
Institutional Investors Weigh In On Travere Therapeutics
Hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its position in Travere Therapeutics by 53.4% during the second quarter. GAMMA Investing LLC now owns 606 shares of the company’s stock worth $34,000 after acquiring an additional 211 shares during the period. State of Wyoming bought a new stake in Travere Therapeutics in the 4th quarter valued at $37,000. Torren Management LLC acquired a new stake in Travere Therapeutics in the 4th quarter worth $38,000. Comerica Bank grew its position in Travere Therapeutics by 77.5% in the 4th quarter. Comerica Bank now owns 1,127 shares of the company’s stock worth $43,000 after purchasing an additional 492 shares during the last quarter. Finally, Fifth Third Bancorp bought a new position in shares of Travere Therapeutics during the 1st quarter worth about $35,000.
About Travere Therapeutics
Travere Therapeutics, Inc (NASDAQ: TVTX) is a biopharmaceutical company headquartered in San Diego, California, dedicated to the development and commercialization of therapies for rare kidney and genetic disorders. The company’s mission is to address unmet needs in conditions with limited treatment options by focusing on diseases that affect small patient populations. Travere combines research, development and commercial capabilities to bring innovative medicines to market.
The company’s lead product is sparsentan, a dual endothelin angiotensin receptor antagonist that has received accelerated approval from the U.S.
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