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

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) have received an average rating of “Moderate Buy” from the thirteen research firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $52.5833.

TVTX has been the topic of several recent analyst reports. Wells Fargo & Company upped their price objective on shares of Travere Therapeutics from $50.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. Canaccord Genuity Group lifted their target price on shares of Travere Therapeutics from $56.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Guggenheim boosted their target price on Travere Therapeutics from $56.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, June 25th. Citigroup upped their price target on Travere Therapeutics from $62.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, June 15th. Finally, Wedbush raised their price target on Travere Therapeutics from $55.00 to $61.00 and gave the stock an “outperform” rating in a research report on Monday, June 22nd.

Travere Therapeutics Stock Down 1.6%

Shares of TVTX opened at $54.98 on Tuesday. The company’s 50-day moving average price is $53.77 and its 200 day moving average price is $40.46. Travere Therapeutics has a 12-month low of $15.42 and a 12-month high of $60.10. The company has a current ratio of 3.13, a quick ratio of 3.08 and a debt-to-equity ratio of 3.16. The firm has a market cap of $5.11 billion, a P/E ratio of -239.03 and a beta of 1.12.

Travere Therapeutics (NASDAQ:TVTX) last announced its earnings results on Monday, May 4th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.29. The company had revenue of $127.20 million during the quarter, compared to analyst estimates of $136.23 million. Travere Therapeutics had a negative net margin of 4.00% and a negative return on equity of 26.16%. Travere Therapeutics’s revenue was up 55.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.47) earnings per share. On average, sell-side analysts forecast that Travere Therapeutics will post -0.56 earnings per share for the current year.

Insider Transactions at Travere Therapeutics

In other Travere Therapeutics news, Director Timothy Coughlin sold 10,000 shares of Travere Therapeutics stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $50.07, for a total value of $500,700.00. Following the completion of the transaction, the director directly owned 56,250 shares of the company’s stock, valued at $2,816,437.50. The trade was a 15.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Elizabeth E. Reed sold 2,076 shares of the business’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $43.95, for a total transaction of $91,240.20. Following the sale, the insider owned 105,211 shares in the company, valued at $4,624,023.45. This trade represents a 1.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 42,460 shares of company stock worth $1,954,542. 4.44% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in TVTX. State Street Corp increased its stake in Travere Therapeutics by 47.8% during the 4th quarter. State Street Corp now owns 4,756,666 shares of the company’s stock worth $181,752,000 after buying an additional 1,538,827 shares during the period. Perceptive Advisors LLC boosted its position in Travere Therapeutics by 12.7% in the 4th quarter. Perceptive Advisors LLC now owns 4,278,180 shares of the company’s stock valued at $163,469,000 after buying an additional 483,565 shares during the period. Adage Capital Partners GP L.L.C. boosted its position in Travere Therapeutics by 27.4% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,784,000 shares of the company’s stock valued at $41,203,000 after buying an additional 599,102 shares during the period. Renaissance Technologies LLC grew its stake in shares of Travere Therapeutics by 28.2% in the fourth quarter. Renaissance Technologies LLC now owns 2,246,779 shares of the company’s stock worth $85,849,000 after acquiring an additional 494,665 shares in the last quarter. Finally, Rock Springs Capital Management LP grew its stake in shares of Travere Therapeutics by 2.1% in the fourth quarter. Rock Springs Capital Management LP now owns 2,210,322 shares of the company’s stock worth $84,456,000 after acquiring an additional 45,549 shares in the last quarter.

Travere Therapeutics Company Profile

Travere Therapeutics, Inc (NASDAQ: TVTX) is a biopharmaceutical company headquartered in San Diego, California, dedicated to the development and commercialization of therapies for rare kidney and genetic disorders. The company’s mission is to address unmet needs in conditions with limited treatment options by focusing on diseases that affect small patient populations. Travere combines research, development and commercial capabilities to bring innovative medicines to market.

The company’s lead product is sparsentan, a dual endothelin angiotensin receptor antagonist that has received accelerated approval from the U.S.