Travere Therapeutics (NASDAQ:TVTX) Trading Up 5% Following Analyst Upgrade

Travere Therapeutics, Inc. (NASDAQ:TVTX)’s share price was up 5% during trading on Tuesday after Wall Street Zen upgraded the stock from a hold rating to a buy rating. The stock traded as high as $18.31 and last traded at $18.37. Approximately 180,628 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 1,640,927 shares. The stock had previously closed at $17.50.

TVTX has been the subject of several other reports. Citigroup reaffirmed a “buy” rating on shares of Travere Therapeutics in a research report on Sunday, August 10th. Scotiabank restated an “outperform” rating on shares of Travere Therapeutics in a research note on Thursday, August 7th. Wedbush raised their price objective on Travere Therapeutics from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Finally, HC Wainwright raised their price objective on Travere Therapeutics from $30.00 to $47.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. Thirteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $33.43.

Institutional Trading of Travere Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of TVTX. Tudor Investment Corp ET AL grew its holdings in Travere Therapeutics by 13.3% during the fourth quarter. Tudor Investment Corp ET AL now owns 43,213 shares of the company’s stock worth $753,000 after acquiring an additional 5,069 shares during the period. Northern Trust Corp grew its holdings in Travere Therapeutics by 11.3% during the fourth quarter. Northern Trust Corp now owns 754,395 shares of the company’s stock worth $13,142,000 after acquiring an additional 76,358 shares during the period. AQR Capital Management LLC grew its holdings in Travere Therapeutics by 117.8% during the fourth quarter. AQR Capital Management LLC now owns 424,024 shares of the company’s stock worth $7,386,000 after acquiring an additional 229,361 shares during the period. Algert Global LLC acquired a new stake in Travere Therapeutics during the fourth quarter worth about $282,000. Finally, Ameriprise Financial Inc. grew its holdings in Travere Therapeutics by 132.6% during the fourth quarter. Ameriprise Financial Inc. now owns 285,350 shares of the company’s stock worth $4,971,000 after acquiring an additional 162,649 shares during the period.

Travere Therapeutics Stock Performance

The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of -8.90 and a beta of 0.79. The firm has a fifty day moving average of $16.48 and a 200 day moving average of $17.35. The company has a debt-to-equity ratio of 9.50, a current ratio of 2.00 and a quick ratio of 1.98.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.14. Travere Therapeutics had a negative return on equity of 717.68% and a negative net margin of 50.64%.The company had revenue of $94.84 million for the quarter, compared to analyst estimates of $100.18 million. During the same period last year, the company earned ($0.65) earnings per share. Travere Therapeutics’s quarterly revenue was up 111.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Travere Therapeutics, Inc. 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.