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

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) have been given a consensus rating of “Moderate Buy” by the fifteen brokerages that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $32.14.

A number of brokerages have commented on TVTX. Guggenheim restated a “buy” rating and set a $47.00 price target on shares of Travere Therapeutics in a research note on Monday, April 14th. Cantor Fitzgerald restated an “overweight” rating on shares of Travere Therapeutics in a research note on Wednesday, April 23rd. Bank of America boosted their price target on shares of Travere Therapeutics from $29.00 to $31.00 and gave the company a “buy” rating in a research note on Tuesday, April 1st. Canaccord Genuity Group boosted their price target on shares of Travere Therapeutics from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Thursday, April 10th. Finally, Citigroup decreased their price target on shares of Travere Therapeutics from $35.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday, June 11th.

Travere Therapeutics Stock Down 2.4%

Travere Therapeutics stock opened at $14.77 on Monday. The company has a quick ratio of 2.03, a current ratio of 2.05 and a debt-to-equity ratio of 9.46. Travere Therapeutics has a 12-month low of $7.72 and a 12-month high of $25.29. The firm’s fifty day moving average is $16.90 and its 200 day moving average is $18.23. The company has a market capitalization of $1.31 billion, a PE ratio of -5.26 and a beta of 0.75.

Travere Therapeutics (NASDAQ:TVTX) last released its earnings results on Thursday, May 1st. The company reported ($0.47) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.08. Travere Therapeutics had a negative net margin of 82.88% and a negative return on equity of 1,179.73%. The company had revenue of $81.73 million for the quarter, compared to the consensus estimate of $77.44 million. During the same quarter in the previous year, the company earned ($1.76) EPS. Travere Therapeutics’s quarterly revenue was up 83.3% compared to the same quarter last year. As a group, sell-side analysts predict that Travere Therapeutics will post -1.4 EPS for the current fiscal year.

Insider Transactions at Travere Therapeutics

In related news, insider Peter Heerma sold 1,771 shares of the business’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $21.05, for a total value of $37,279.55. Following the transaction, the insider now directly owns 128,215 shares of the company’s stock, valued at approximately $2,698,925.75. The trade was a 1.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Christopher R. Cline sold 1,784 shares of the business’s stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $21.05, for a total transaction of $37,553.20. Following the completion of the transaction, the chief financial officer now directly owns 93,126 shares in the company, valued at $1,960,302.30. This trade represents a 1.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,527 shares of company stock worth $473,814 in the last quarter. 4.19% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Travere Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GF Fund Management CO. LTD. purchased a new position in shares of Travere Therapeutics in the 4th quarter worth about $31,000. Sterling Capital Management LLC lifted its holdings in Travere Therapeutics by 859.8% during the fourth quarter. Sterling Capital Management LLC now owns 2,361 shares of the company’s stock valued at $41,000 after purchasing an additional 2,115 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Travere Therapeutics during the first quarter valued at about $62,000. Gen Wealth Partners Inc purchased a new stake in Travere Therapeutics during the fourth quarter valued at about $73,000. Finally, KBC Group NV purchased a new stake in Travere Therapeutics during the first quarter valued at about $75,000.

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.