Travere Therapeutics, Inc. (NASDAQ:TVTX) Given Average Rating of “Moderate Buy” by Analysts

Travere Therapeutics, Inc. (NASDAQ:TVTX) has received an average rating of “Moderate Buy” from the seventeen ratings firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $38.7143.

Several analysts have recently issued reports on TVTX shares. TD Cowen upped their price target on Travere Therapeutics from $30.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Cowen restated a “buy” rating on shares of Travere Therapeutics in a report on Friday, October 31st. HC Wainwright reaffirmed a “buy” rating and set a $47.00 target price on shares of Travere Therapeutics in a research report on Friday, November 28th. Piper Sandler increased their price target on Travere Therapeutics from $26.00 to $35.00 and gave the company a “neutral” rating in a report on Tuesday, November 4th. Finally, Wall Street Zen upgraded shares of Travere Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 13th.

Insider Transactions at Travere Therapeutics

In other Travere Therapeutics news, Director Timothy Coughlin sold 18,000 shares of the business’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $35.03, for a total transaction of $630,540.00. Following the completion of the transaction, the director owned 55,500 shares of the company’s stock, valued at $1,944,165. The trade was a 24.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eric M. Dube sold 92,872 shares of the firm’s 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 completion of the sale, the chief executive officer directly owned 419,173 shares in the company, valued at approximately $12,734,475.74. This represents a 18.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 323,226 shares of company stock worth $11,290,656. Corporate insiders own 4.19% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Travere Therapeutics by 13.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,777 shares of the company’s stock valued at $1,029,000 after acquiring an additional 6,831 shares during the period. Rhumbline Advisers raised its stake in Travere Therapeutics by 2.7% during the 1st quarter. Rhumbline Advisers now owns 124,550 shares of the company’s stock valued at $2,232,000 after purchasing an additional 3,302 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Travere Therapeutics by 166.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,103,075 shares of the company’s stock valued at $16,326,000 after purchasing an additional 689,561 shares during the period. Diversified Trust Co boosted its holdings in Travere Therapeutics by 43.5% in the 2nd quarter. Diversified Trust Co now owns 22,899 shares of the company’s stock valued at $339,000 after purchasing an additional 6,940 shares during the period. Finally, KLP Kapitalforvaltning AS grew its position in Travere Therapeutics by 30.0% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 19,500 shares of the company’s stock worth $289,000 after purchasing an additional 4,500 shares during the last quarter.

Travere Therapeutics Stock Down 1.9%

TVTX stock opened at $35.60 on Friday. The company has a 50 day moving average of $35.73 and a two-hundred day moving average of $25.74. The company has a market cap of $3.19 billion, a price-to-earnings ratio of -33.58, a PEG ratio of 1.28 and a beta of 0.85. Travere Therapeutics has a 12-month low of $12.91 and a 12-month high of $42.13. The company has a quick ratio of 2.71, a current ratio of 2.75 and a debt-to-equity ratio of 4.23.

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

About Travere Therapeutics

Travere Therapeutics, Inc (NASDAQ: TVTX) is a biopharmaceutical company headquartered in San Diego, California, dedicated to the development and commercialization of therapies for rare kidney and genetic disorders. The company’s mission is to address unmet needs in conditions with limited treatment options by focusing on diseases that affect small patient populations. Travere combines research, development and commercial capabilities to bring innovative medicines to market.

The company’s lead product is sparsentan, a dual endothelin angiotensin receptor antagonist that has received accelerated approval from the U.S.