Travere Therapeutics, Inc. (NASDAQ:TVTX) Receives Average Recommendation of “Moderate Buy” from Analysts

Travere Therapeutics, Inc. (NASDAQ:TVTX) has been given a consensus recommendation of “Moderate Buy” by the fifteen research firms that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $31.79.

TVTX has been the subject of a number of recent analyst reports. Evercore ISI boosted their target price on shares of Travere Therapeutics from $33.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Canaccord Genuity Group upped their price objective on Travere Therapeutics from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday, April 10th. Bank of America boosted their price target on Travere Therapeutics from $29.00 to $31.00 and gave the company a “buy” rating in a research report on Tuesday, April 1st. Guggenheim restated a “buy” rating and set a $47.00 price target on shares of Travere Therapeutics in a research note on Monday, April 14th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $30.00 price objective on shares of Travere Therapeutics in a research note on Friday.

Travere Therapeutics Stock Up 1.9 %

TVTX stock opened at $21.15 on Friday. Travere Therapeutics has a one year low of $6.01 and a one year high of $25.29. The stock has a market capitalization of $1.88 billion, a P/E ratio of -5.16 and a beta of 0.84. The company has a 50 day moving average price of $18.08 and a two-hundred day moving average price of $18.74. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71.

Travere Therapeutics (NASDAQ:TVTX) last released its earnings results on Thursday, May 1st. The company reported ($0.47) EPS for the quarter, beating the consensus estimate of ($0.55) by $0.08. Travere Therapeutics had a negative return on equity of 1,636.87% and a negative net margin of 137.90%. The firm had revenue of $81.73 million during the quarter, compared to analyst estimates of $77.44 million. During the same period in the prior year, the firm posted ($1.76) earnings per share. The business’s quarterly revenue was up 83.3% compared to the same quarter last year. As a group, sell-side analysts expect that Travere Therapeutics will post -1.4 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Sandra Calvin sold 3,348 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $20.12, for a total value of $67,361.76. Following the transaction, the chief accounting officer now owns 63,654 shares in the company, valued at approximately $1,280,718.48. The trade was a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Peter Heerma sold 3,074 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $25.00, for a total value of $76,850.00. Following the sale, the insider now owns 127,634 shares of the company’s stock, valued at approximately $3,190,850. This trade represents a 2.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 156,330 shares of company stock worth $3,507,377 in the last quarter. 4.06% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Driehaus Capital Management LLC lifted its position in shares of Travere Therapeutics by 608.1% during the fourth quarter. Driehaus Capital Management LLC now owns 2,217,975 shares of the company’s stock worth $38,637,000 after purchasing an additional 1,904,733 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in Travere Therapeutics during the fourth quarter valued at approximately $21,075,000. RA Capital Management L.P. bought a new position in Travere Therapeutics during the 4th quarter worth approximately $20,033,000. Jennison Associates LLC acquired a new position in shares of Travere Therapeutics in the 4th quarter worth approximately $14,222,000. Finally, Jacobs Levy Equity Management Inc. increased its holdings in shares of Travere Therapeutics by 36.7% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,174,213 shares of the company’s stock valued at $37,875,000 after acquiring an additional 583,836 shares during the last quarter.

About Travere Therapeutics

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.