Travere Therapeutics (NASDAQ:TVTX) Stock Gets Downgrade from Zacks Research

Travere Therapeutics (NASDAQ:TVTX) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Tuesday, Zacks reports.

Other analysts have also issued reports about the company. Guggenheim boosted their price target on Travere Therapeutics from $75.00 to $89.00 and gave the company a “buy” rating in a report on Thursday, September 24th. Citigroup lifted their target price on Travere Therapeutics from $70.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Piper Sandler reaffirmed an “overweight” rating on shares of Travere Therapeutics in a research report on Monday, August 17th. Wedbush reaffirmed an “outperform” rating and set a $76.00 price target on shares of Travere Therapeutics in a research note on Tuesday, September 22nd. Finally, TD Cowen raised their price target on shares of Travere Therapeutics from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $69.50.

Travere Therapeutics Stock Performance

Shares of Travere Therapeutics stock opened at $52.58 on Tuesday. The stock’s fifty day simple moving average is $60.89 and its 200 day simple moving average is $53.23. The company has a current ratio of 4.05, a quick ratio of 3.99 and a debt-to-equity ratio of 24.58. The company has a market capitalization of $4.96 billion, a PE ratio of -114.30 and a beta of 1.13. Travere Therapeutics has a 12 month low of $22.59 and a 12 month high of $68.73.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings data on Tuesday, August 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.03. The business had revenue of $169.58 million during the quarter, compared to analyst estimates of $157.27 million. Travere Therapeutics had a negative return on equity of 55.15% and a negative net margin of 7.35%. Travere Therapeutics’s quarterly revenue was up 48.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.13 EPS. On average, research analysts predict that Travere Therapeutics will post -0.92 EPS for the current year.

Insider Transactions at Travere Therapeutics

In other Travere Therapeutics news, EVP Peter Heerma sold 172,717 shares of the business’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $63.43, for a total transaction of $10,955,439.31. Following the transaction, the executive vice president owned 117,066 shares of the company’s stock, valued at $7,425,496.38. The trade was a 59.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider William Rote sold 112,850 shares of the company’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $63.33, for a total value of $7,146,790.50. Following the sale, the insider owned 98,197 shares in the company, valued at approximately $6,218,816.01. This represents a 53.47% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 1,294,029 shares of company stock valued at $79,454,261. 4.44% of the stock is owned by insiders.

Hedge Funds Weigh In On Travere Therapeutics

A number of institutional investors have recently added to or reduced their stakes in TVTX. GAMMA Investing LLC lifted its stake in Travere Therapeutics by 53.4% in the second quarter. GAMMA Investing LLC now owns 606 shares of the company’s stock valued at $34,000 after acquiring an additional 211 shares during the last quarter. Allworth Financial LP bought a new position in shares of Travere Therapeutics in the 2nd quarter valued at about $47,000. Fifth Third Bancorp bought a new position in shares of Travere Therapeutics in the 1st quarter valued at about $35,000. Integrated Wealth Concepts LLC acquired a new position in shares of Travere Therapeutics during the 2nd quarter worth about $70,000. Finally, Rockefeller Capital Management L.P. increased its stake in shares of Travere Therapeutics by 1,604.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,642 shares of the company’s stock worth $101,000 after purchasing an additional 2,487 shares during the last quarter.

Travere Therapeutics Company Profile

Travere Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing therapies for rare diseases, with an emphasis on serious kidney conditions. The company’s work centers on addressing diseases with limited treatment options and improving outcomes for patients with progressive renal disorders.

Travere’s lead commercial product is FILSPARI (sparsentan), an oral treatment for adults with primary immunoglobulin A nephropathy (IgA nephropathy) who are at risk of disease progression.