Zacks Research upgraded shares of Travere Therapeutics (NASDAQ:TVTX – Free Report) from a hold rating to a strong-buy rating in a report released on Tuesday morning,Zacks.com reports.
Other equities research analysts also recently issued reports about the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Travere Therapeutics in a research report on Wednesday, October 8th. Scotiabank reaffirmed an “outperform” rating on shares of Travere Therapeutics in a research report on Thursday, August 7th. HC Wainwright reaffirmed a “buy” rating and set a $47.00 price target on shares of Travere Therapeutics in a research report on Friday, September 19th. Wedbush increased their price target on Travere Therapeutics from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Finally, Wall Street Zen upgraded Travere Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, October 4th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Travere Therapeutics has an average rating of “Moderate Buy” and an average target price of $35.21.
View Our Latest Stock Report on Travere Therapeutics
Travere Therapeutics Price Performance
Travere Therapeutics (NASDAQ:TVTX – Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.14. The company had revenue of $94.84 million for the quarter, compared to the consensus estimate of $100.18 million. Travere Therapeutics had a negative return on equity of 717.68% and a negative net margin of 50.64%.The firm’s revenue for the quarter was up 111.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.65) EPS. Research analysts predict that Travere Therapeutics will post -1.4 earnings per share for the current year.
Insider Transactions at Travere Therapeutics
In related news, insider Elizabeth E. Reed sold 10,000 shares of Travere Therapeutics stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $25.00, for a total value of $250,000.00. Following the sale, the insider directly owned 89,878 shares in the company, valued at approximately $2,246,950. The trade was a 10.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 10,573 shares of company stock valued at $260,608. Insiders own 4.19% of the company’s stock.
Institutional Investors Weigh In On Travere Therapeutics
Several institutional investors have recently bought and sold shares of TVTX. Adage Capital Partners GP L.L.C. lifted its stake in Travere Therapeutics by 479.9% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 2,184,898 shares of the company’s stock worth $39,153,000 after purchasing an additional 1,808,098 shares in the last quarter. Armistice Capital LLC lifted its stake in Travere Therapeutics by 20.6% in the 1st quarter. Armistice Capital LLC now owns 8,872,000 shares of the company’s stock worth $158,986,000 after purchasing an additional 1,514,000 shares in the last quarter. Nuveen LLC purchased a new position in Travere Therapeutics in the 1st quarter worth approximately $21,569,000. Frazier Life Sciences Management L.P. purchased a new position in Travere Therapeutics in the 2nd quarter worth approximately $14,831,000. Finally, Perceptive Advisors LLC purchased a new position in Travere Therapeutics in the 2nd quarter worth approximately $12,347,000.
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.
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