Travere Therapeutics (NASDAQ:TVTX) Rating Lowered to “Hold” at Zacks Research

Travere Therapeutics (NASDAQ:TVTX) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other research analysts also recently weighed in on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Travere Therapeutics in a research report on Wednesday, October 8th. Cowen reissued a “buy” rating on shares of Travere Therapeutics in a report on Friday, October 31st. Citigroup lifted their price target on Travere Therapeutics from $34.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Jefferies Financial Group set a $35.00 price target on Travere Therapeutics in a research report on Wednesday, September 10th. Finally, Wedbush raised their price objective on Travere Therapeutics from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Thirteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Travere Therapeutics has an average rating of “Moderate Buy” and an average price target of $38.71.

Travere Therapeutics Price Performance

Shares of Travere Therapeutics stock traded up $0.61 during trading hours on Wednesday, reaching $34.50. The stock had a trading volume of 1,217,915 shares, compared to its average volume of 1,828,224. Travere Therapeutics has a twelve month low of $12.91 and a twelve month high of $36.76. The company has a current ratio of 2.00, a quick ratio of 1.98 and a debt-to-equity ratio of 9.50. The firm has a market capitalization of $3.09 billion, a PE ratio of -16.91 and a beta of 0.90. The stock’s 50 day moving average is $27.40 and its 200 day moving average is $20.50.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings data on Thursday, October 30th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.59. The business had revenue of $164.86 million during 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 business’s revenue was up 162.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.70) earnings per share. Equities analysts expect that Travere Therapeutics will post -1.4 earnings per share for the current fiscal year.

Insider Transactions at Travere Therapeutics

In related news, CEO Eric M. Dube sold 92,872 shares of the stock in a transaction that occurred on Tuesday, October 28th. The stock was sold at an average price of $30.38, for a total value of $2,821,451.36. Following the completion of the transaction, the chief executive officer directly owned 419,173 shares in the company, valued at approximately $12,734,475.74. This represents a 18.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Elizabeth E. Reed sold 10,000 shares of Travere Therapeutics stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $25.00, for a total value of $250,000.00. Following the completion of the sale, the insider owned 89,878 shares in the company, valued at $2,246,950. This represents a 10.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 223,941 shares of company stock valued at $7,221,380 in the last ninety days. 4.19% of the stock is currently owned by corporate insiders.

Institutional Trading of Travere Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Raymond James Financial Inc. acquired a new position in shares of Travere Therapeutics in the second quarter valued at approximately $33,000. First Horizon Corp acquired a new stake in Travere Therapeutics during the 3rd quarter worth approximately $36,000. Caitong International Asset Management Co. Ltd purchased a new position in Travere Therapeutics in the 1st quarter valued at approximately $62,000. Headlands Technologies LLC acquired a new position in shares of Travere Therapeutics in the second quarter worth $73,000. Finally, Atria Investments Inc purchased a new stake in shares of Travere Therapeutics during the second quarter worth $154,000.

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.