Travere Therapeutics, Inc. (NASDAQ:TVTX) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) have received an average rating of “Moderate Buy” from the fifteen ratings firms that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $32.14.

TVTX has been the topic of a number of recent research reports. Stifel Nicolaus boosted their price target on shares of Travere Therapeutics from $22.00 to $23.00 and gave the stock a “hold” rating in a research report on Friday, May 2nd. Guggenheim restated a “buy” rating and set a $47.00 price target on shares of Travere Therapeutics in a research report on Monday, April 14th. Scotiabank reiterated an “outperform” rating on shares of Travere Therapeutics in a report on Friday, April 11th. HC Wainwright reiterated a “buy” rating and issued a $30.00 target price on shares of Travere Therapeutics in a report on Tuesday, July 1st. Finally, Citigroup reduced their price target on shares of Travere Therapeutics from $35.00 to $32.00 and set a “buy” rating on the stock in a research note on Wednesday, June 11th.

Insider Buying and Selling at Travere Therapeutics

In other Travere Therapeutics news, CFO Christopher R. Cline sold 1,784 shares of the company’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $21.05, for a total value of $37,553.20. Following the transaction, the chief financial officer directly owned 93,126 shares of the company’s stock, valued at $1,960,302.30. This represents a 1.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Peter Heerma sold 1,771 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $21.05, for a total value of $37,279.55. Following the sale, the insider directly owned 128,215 shares in the company, valued at approximately $2,698,925.75. This trade represents a 1.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,294 shares of company stock valued at $485,123 in the last ninety days. 4.19% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Travere Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. GF Fund Management CO. LTD. bought a new position in shares of Travere Therapeutics during the 4th quarter worth approximately $31,000. Sterling Capital Management LLC raised its position in Travere Therapeutics by 859.8% in the fourth quarter. Sterling Capital Management LLC now owns 2,361 shares of the company’s stock worth $41,000 after acquiring an additional 2,115 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in shares of Travere Therapeutics in the first quarter valued at $62,000. Gen Wealth Partners Inc purchased a new position in shares of Travere Therapeutics during the 4th quarter valued at $73,000. Finally, KBC Group NV bought a new position in Travere Therapeutics in the 1st quarter worth approximately $75,000.

Travere Therapeutics Price Performance

Shares of TVTX opened at $16.51 on Friday. The company has a market cap of $1.47 billion, a price-to-earnings ratio of -5.88 and a beta of 0.72. Travere Therapeutics has a twelve month low of $7.93 and a twelve month high of $25.29. The company has a quick ratio of 2.03, a current ratio of 2.05 and a debt-to-equity ratio of 9.46. The company has a 50 day moving average of $15.95 and a two-hundred day moving average of $18.06.

Travere Therapeutics (NASDAQ:TVTX) last issued its earnings results on Thursday, May 1st. The company reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.55) by $0.08. Travere Therapeutics had a negative net margin of 82.88% and a negative return on equity of 1,179.73%. The firm had revenue of $81.73 million during the quarter, compared to analysts’ expectations of $77.44 million. During the same quarter last year, the company posted ($1.76) earnings per share. The firm’s revenue was up 83.3% compared to the same quarter last year. As a group, analysts predict that Travere Therapeutics will post -1.4 earnings per share for the current fiscal year.

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.