Travere Therapeutics (NASDAQ:TVTX) Stock Rating Upgraded by Zacks Investment Research

Travere Therapeutics (NASDAQ:TVTXGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “Travere Therapeutics Inc. is a biopharmaceutical company. It engages to identify, develop and deliver life-changing therapies. Travere Therapeutics Inc., formerly known as Retrophin Inc., is based in SAN DIEGO. “

A number of other equities analysts have also commented on TVTX. HC Wainwright assumed coverage on shares of Travere Therapeutics in a research report on Monday, February 28th. They issued a “buy” rating and a $45.00 price objective for the company. Piper Sandler initiated coverage on shares of Travere Therapeutics in a report on Wednesday, March 30th. They issued an “overweight” rating and a $42.00 price target for the company. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Travere Therapeutics currently has an average rating of “Buy” and a consensus price target of $34.11.

NASDAQ:TVTX opened at $26.20 on Thursday. Travere Therapeutics has a 1 year low of $12.75 and a 1 year high of $31.65. The stock’s fifty day moving average price is $26.81 and its two-hundred day moving average price is $27.65. The company has a debt-to-equity ratio of 0.75, a current ratio of 4.70 and a quick ratio of 4.64. The company has a market cap of $1.66 billion, a P/E ratio of -8.65 and a beta of 0.74.

Travere Therapeutics (NASDAQ:TVTXGet Rating) last released its quarterly earnings data on Thursday, February 24th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.12). Travere Therapeutics had a negative net margin of 79.16% and a negative return on equity of 55.22%. The company had revenue of $57.25 million for the quarter, compared to the consensus estimate of $56.40 million. During the same quarter in the previous year, the firm posted ($2.37) earnings per share. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. On average, analysts expect that Travere Therapeutics will post -3.68 earnings per share for the current fiscal year.

In other news, insider Peter Heerma sold 1,125 shares of the business’s stock in a transaction dated Monday, January 31st. The stock was sold at an average price of $27.40, for a total value of $30,825.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Laura Clague sold 1,238 shares of the firm’s stock in a transaction that occurred on Monday, January 31st. The stock was sold at an average price of $27.40, for a total value of $33,921.20. The disclosure for this sale can be found here. Insiders have sold 9,324 shares of company stock worth $254,767 over the last quarter. Company insiders own 4.31% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Advisor Group Holdings Inc. grew its holdings in Travere Therapeutics by 1,448.0% in the 3rd quarter. Advisor Group Holdings Inc. now owns 1,161 shares of the company’s stock worth $28,000 after acquiring an additional 1,086 shares during the last quarter. Lindbrook Capital LLC purchased a new stake in shares of Travere Therapeutics during the third quarter worth about $36,000. Royal Bank of Canada grew its stake in shares of Travere Therapeutics by 132.7% in the second quarter. Royal Bank of Canada now owns 4,053 shares of the company’s stock worth $59,000 after purchasing an additional 2,311 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in Travere Therapeutics by 50.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,860 shares of the company’s stock valued at $134,000 after purchasing an additional 1,640 shares during the period. Finally, Teacher Retirement System of Texas bought a new position in Travere Therapeutics during the 3rd quarter valued at approximately $202,000.

Travere Therapeutics Company Profile (Get Rating)

Travere Therapeutics, Inc, a biopharmaceutical company, focuses on the identification, development, commercialization, and delivering of therapies for the treatment of rare diseases. Its marketed products include Chenodal, a synthetic oral form of chenodeoxycholic acid for the treatment of radiolucent stones in gallbladders; Cholbam, a cholic acid capsule to treat pediatric and adult patients with bile acid synthesis disorders due to single enzyme defects, as well as for adjunctive treatment of patients with peroxisomal disorders; and Thiola and Thiola EC, a tiopronin tablet for the treatment of homozygous cystinuria.

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