Travere Therapeutics (NASDAQ:TVTX) Releases Quarterly Earnings Results, Misses Expectations By $0.35 EPS

Travere Therapeutics (NASDAQ:TVTXGet Rating) issued its quarterly earnings results on Thursday. The company reported ($1.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.85) by ($0.35), MarketWatch Earnings reports. Travere Therapeutics had a negative return on equity of 55.22% and a negative net margin of 79.16%. The company had revenue of $48.49 million for the quarter, compared to analysts’ expectations of $51.92 million. During the same quarter in the previous year, the business earned ($0.96) EPS. The company’s revenue for the quarter was up 2.3% on a year-over-year basis.

Travere Therapeutics stock opened at $22.24 on Friday. The firm has a 50 day simple moving average of $26.48 and a 200 day simple moving average of $27.65. The company has a current ratio of 4.70, a quick ratio of 4.64 and a debt-to-equity ratio of 0.75. Travere Therapeutics has a 1-year low of $12.75 and a 1-year high of $31.65. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of -6.80 and a beta of 0.72.

A number of large investors have recently made changes to their positions in TVTX. Royal Bank of Canada boosted its holdings in Travere Therapeutics by 132.7% in the 2nd quarter. Royal Bank of Canada now owns 4,053 shares of the company’s stock valued at $59,000 after purchasing an additional 2,311 shares during the period. Amalgamated Bank bought a new position in Travere Therapeutics in the 4th quarter valued at $242,000. Envestnet Asset Management Inc. boosted its holdings in Travere Therapeutics by 13.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 10,362 shares of the company’s stock valued at $267,000 after purchasing an additional 1,224 shares during the period. Schonfeld Strategic Advisors LLC boosted its holdings in Travere Therapeutics by 35.1% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 13,100 shares of the company’s stock valued at $407,000 after purchasing an additional 3,400 shares during the period. Finally, Invesco Ltd. boosted its holdings in Travere Therapeutics by 8.4% in the 3rd quarter. Invesco Ltd. now owns 36,972 shares of the company’s stock valued at $897,000 after purchasing an additional 2,868 shares during the period.

Several brokerages have recently issued reports on TVTX. HC Wainwright began coverage on shares of Travere Therapeutics in a research note on Monday, February 28th. They set a “buy” rating and a $45.00 price target for the company. Piper Sandler decreased their price target on shares of Travere Therapeutics from $42.00 to $40.00 in a research note on Friday. Finally, Zacks Investment Research upgraded shares of Travere Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, April 28th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Travere Therapeutics currently has an average rating of “Buy” and an average price target of $33.89.

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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Earnings History for Travere Therapeutics (NASDAQ:TVTX)

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