Travere Therapeutics (NASDAQ:TVTX) Shares Down 10.4%

Travere Therapeutics, Inc. (NASDAQ:TVTX)’s share price was down 10.4% on Monday . The stock traded as low as $7.93 and last traded at $8.06. Approximately 564,545 shares traded hands during mid-day trading, a decline of 54% from the average daily volume of 1,227,376 shares. The stock had previously closed at $9.00.

Analysts Set New Price Targets

A number of research analysts have commented on the company. HC Wainwright increased their target price on Travere Therapeutics from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Monday. Piper Sandler raised their price objective on Travere Therapeutics from $11.00 to $12.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Canaccord Genuity Group boosted their target price on shares of Travere Therapeutics from $15.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Wedbush increased their target price on shares of Travere Therapeutics from $13.00 to $16.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, Barclays lifted their price target on shares of Travere Therapeutics from $12.00 to $14.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.27.

Travere Therapeutics Price Performance

The company has a debt-to-equity ratio of 5.10, a quick ratio of 2.75 and a current ratio of 2.78. The stock has a market capitalization of $641.01 million, a price-to-earnings ratio of -4.01 and a beta of 0.77. The business’s 50 day simple moving average is $8.48 and its 200-day simple moving average is $7.75.

Travere Therapeutics (NASDAQ:TVTX) last released its quarterly earnings results on Monday, May 6th. The company reported ($1.76) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.98) by ($0.78). Travere Therapeutics had a negative net margin of 82.14% and a negative return on equity of 207.40%. The business had revenue of $41.40 million for the quarter, compared to the consensus estimate of $43.46 million. During the same period last year, the firm posted ($1.27) EPS. The business’s quarterly revenue was up 34.0% on a year-over-year basis. Research analysts anticipate that Travere Therapeutics, Inc. will post -3.92 earnings per share for the current year.

Institutional Trading of Travere Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC boosted its holdings in shares of Travere Therapeutics by 1,656.4% in the fourth quarter. Signaturefd LLC now owns 3,021 shares of the company’s stock valued at $27,000 after acquiring an additional 2,849 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in Travere Therapeutics in the first quarter worth approximately $32,000. Nisa Investment Advisors LLC boosted its stake in Travere Therapeutics by 968.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 5,650 shares of the company’s stock valued at $51,000 after purchasing an additional 5,121 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of Travere Therapeutics by 68.6% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 14,652 shares of the company’s stock worth $113,000 after buying an additional 5,962 shares in the last quarter. Finally, Quest Partners LLC lifted its holdings in shares of Travere Therapeutics by 240.6% in the second quarter. Quest Partners LLC now owns 14,336 shares of the company’s stock valued at $118,000 after buying an additional 10,127 shares during the period.

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.