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

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) have been assigned a consensus rating of “Moderate Buy” from the seventeen ratings firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have issued a buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $38.7143.

A number of research firms have issued reports on TVTX. Jefferies Financial Group set a $35.00 target price on Travere Therapeutics in a research note on Wednesday, September 10th. Citigroup raised their price target on shares of Travere Therapeutics from $34.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Wall Street Zen upgraded shares of Travere Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Wells Fargo & Company increased their price objective on shares of Travere Therapeutics from $27.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday, September 11th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Travere Therapeutics in a research report on Wednesday, October 8th.

Travere Therapeutics Stock Down 0.5%

NASDAQ TVTX opened at $34.83 on Monday. The business has a fifty day moving average price of $32.08 and a two-hundred day moving average price of $22.92. The stock has a market capitalization of $3.12 billion, a PE ratio of -32.86 and a beta of 0.89. Travere Therapeutics has a fifty-two week low of $12.91 and a fifty-two week high of $37.50. The company has a debt-to-equity ratio of 4.23, a current ratio of 2.75 and a quick ratio of 2.71.

Travere Therapeutics (NASDAQ:TVTX) last posted its quarterly earnings results on Thursday, October 30th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.59. Travere Therapeutics had a negative return on equity of 178.68% and a negative net margin of 20.32%.The company had revenue of $164.86 million during the quarter, compared to analysts’ expectations of $106.09 million. During the same quarter in the previous year, the firm earned ($0.70) EPS. Travere Therapeutics’s revenue was up 162.1% on a year-over-year basis. Equities analysts expect that Travere Therapeutics will post -1.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Travere Therapeutics news, CAO Sandra Calvin sold 67,115 shares of the stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $36.00, for a total value of $2,416,140.00. Following the completion of the transaction, the chief accounting officer directly owned 48,545 shares in the company, valued at approximately $1,747,620. This trade represents a 58.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Eric M. Dube sold 92,872 shares of Travere Therapeutics stock in a transaction dated Tuesday, October 28th. The shares were sold at an average price of $30.38, for a total value of $2,821,451.36. Following the sale, the chief executive officer directly owned 419,173 shares in the company, valued at $12,734,475.74. The trade was a 18.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 243,368 shares of company stock worth $7,910,972 in the last ninety days. Insiders own 4.06% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TVTX. Penn Capital Management Company LLC grew its holdings in Travere Therapeutics by 39.7% during the 3rd quarter. Penn Capital Management Company LLC now owns 27,004 shares of the company’s stock worth $645,000 after acquiring an additional 7,680 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new position in shares of Travere Therapeutics during the third quarter worth $225,000. PharVision Advisers LLC bought a new stake in shares of Travere Therapeutics in the third quarter worth $210,000. Voloridge Investment Management LLC increased its holdings in Travere Therapeutics by 18.7% in the third quarter. Voloridge Investment Management LLC now owns 883,672 shares of the company’s stock valued at $21,120,000 after purchasing an additional 139,018 shares during the period. Finally, Quarry LP increased its holdings in Travere Therapeutics by 113.7% in the third quarter. Quarry LP now owns 14,960 shares of the company’s stock valued at $358,000 after purchasing an additional 7,960 shares during the period.

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.