Wall Street Zen Upgrades Travere Therapeutics (NASDAQ:TVTX) to “Buy”

Travere Therapeutics (NASDAQ:TVTX) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Several other equities analysts also recently weighed in on TVTX. Scotiabank reiterated an “outperform” rating on shares of Travere Therapeutics in a research report on Thursday, August 7th. Wells Fargo & Company increased their price objective on shares of Travere Therapeutics from $27.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, September 11th. Weiss Ratings restated a “sell (e+)” rating on shares of Travere Therapeutics in a report on Saturday, September 27th. Citigroup reaffirmed a “buy” rating on shares of Travere Therapeutics in a research report on Sunday, August 10th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $47.00 price target on shares of Travere Therapeutics in a research note on Friday, September 19th. Thirteen research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Travere Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.20.

Travere Therapeutics Stock Up 1.7%

Shares of NASDAQ TVTX opened at $24.64 on Friday. The firm has a market cap of $2.20 billion, a P/E ratio of -12.08 and a beta of 0.83. The company has a debt-to-equity ratio of 9.50, a quick ratio of 1.98 and a current ratio of 2.00. Travere Therapeutics has a 1 year low of $12.91 and a 1 year high of $28.69. The firm’s 50 day moving average price is $20.18 and its 200 day moving average price is $17.85.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.14. Travere Therapeutics had a negative return on equity of 717.68% and a negative net margin of 50.64%.The company had revenue of $94.84 million during the quarter, compared to the consensus estimate of $100.18 million. During the same period in the previous year, the firm posted ($0.65) EPS. Travere Therapeutics’s revenue was up 111.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Travere Therapeutics will post -1.4 earnings per share for the current year.

Insider Activity at Travere Therapeutics

In related news, insider Elizabeth E. Reed sold 10,000 shares of the business’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $25.00, for a total value of $250,000.00. Following the transaction, the insider owned 89,878 shares in the company, valued at approximately $2,246,950. The trade was a 10.01% 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. Insiders sold a total of 10,573 shares of company stock valued at $260,608 in the last 90 days. Insiders own 4.06% of the company’s stock.

Hedge Funds Weigh In On Travere Therapeutics

Institutional investors have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Travere Therapeutics during the first quarter worth approximately $182,000. Polar Asset Management Partners Inc. bought a new position in Travere Therapeutics during the 1st quarter valued at $304,000. Wellington Management Group LLP acquired a new position in Travere Therapeutics during the 4th quarter worth $583,000. Northern Trust Corp increased its position in shares of Travere Therapeutics by 7.2% in the 1st quarter. Northern Trust Corp now owns 808,687 shares of the company’s stock worth $14,492,000 after purchasing an additional 54,292 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of Travere Therapeutics by 166.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,103,075 shares of the company’s stock valued at $16,326,000 after purchasing an additional 689,561 shares in the last quarter.

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.