Travere Therapeutics (NASDAQ:TVTX) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of Travere Therapeutics (NASDAQ:TVTX) from a buy rating to a hold rating in a report issued on Saturday morning.

Other equities research analysts have also recently issued research reports about the stock. Citigroup restated a “buy” rating on shares of Travere Therapeutics in a research report on Sunday, August 10th. Jefferies Financial Group set a $35.00 target price on shares of Travere Therapeutics in a research note on Wednesday, September 10th. Wedbush raised their target price on shares of Travere Therapeutics from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. HC Wainwright reaffirmed a “buy” rating and issued a $47.00 target price on shares of Travere Therapeutics in a research note on Friday. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Travere Therapeutics in a research note on Thursday, August 7th. Thirteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Travere Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $34.20.

Travere Therapeutics Price Performance

Shares of Travere Therapeutics stock opened at $25.43 on Friday. The company has a debt-to-equity ratio of 9.50, a current ratio of 2.00 and a quick ratio of 1.98. Travere Therapeutics has a fifty-two week low of $12.91 and a fifty-two week high of $28.69. The firm has a fifty day moving average price of $18.67 and a two-hundred day moving average price of $17.54. The company has a market cap of $2.27 billion, a PE ratio of -12.47 and a beta of 0.78.

Travere Therapeutics (NASDAQ:TVTX) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.14. The company had revenue of $94.84 million during the quarter, compared to analysts’ expectations of $100.18 million. Travere Therapeutics had a negative net margin of 50.64% and a negative return on equity of 717.68%. The business’s revenue was up 111.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.65) EPS. Analysts expect that Travere Therapeutics will post -1.4 EPS for the current year.

Institutional Trading of Travere Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. GF Fund Management CO. LTD. bought a new stake in shares of Travere Therapeutics during the 4th quarter worth about $31,000. Raymond James Financial Inc. bought a new stake in shares of Travere Therapeutics during the 2nd quarter worth about $33,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Travere Therapeutics during the 1st quarter worth about $62,000. KBC Group NV bought a new stake in shares of Travere Therapeutics during the 1st quarter worth about $75,000. Finally, Headlands Technologies LLC bought a new stake in shares of Travere Therapeutics during the 2nd quarter worth about $73,000.

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.