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

Travere Therapeutics, Inc. (NASDAQ:TVTX) has received an average rating of “Moderate Buy” from the sixteen ratings firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and twelve have issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $38.8571.

TVTX has been the topic of a number of recent analyst reports. TD Cowen reissued a “buy” rating on shares of Travere Therapeutics in a research report on Friday, October 31st. Citigroup raised their price objective on Travere Therapeutics from $34.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Wall Street Zen raised Travere Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 13th. HC Wainwright restated a “buy” rating and issued a $47.00 price target on shares of Travere Therapeutics in a report on Friday, November 28th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Travere Therapeutics in a research report on Wednesday, January 21st.

Insider Transactions at Travere Therapeutics

In other news, CEO Eric M. Dube sold 51,865 shares of the company’s stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $30.10, for a total value of $1,561,136.50. Following the completion of the transaction, the chief executive officer owned 419,173 shares in the company, valued at $12,617,107.30. This represents a 11.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider William E. Rote sold 60,000 shares of the stock in a transaction on Wednesday, December 24th. The stock was sold at an average price of $40.10, for a total transaction of $2,406,000.00. Following the sale, the insider directly owned 101,443 shares of the company’s stock, valued at $4,067,864.30. This represents a 37.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 179,858 shares of company stock valued at $6,408,552. 4.19% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of TVTX. Vanguard Group Inc. grew its holdings in shares of Travere Therapeutics by 10.3% during the third quarter. Vanguard Group Inc. now owns 6,613,368 shares of the company’s stock worth $158,059,000 after buying an additional 619,085 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its position in Travere Therapeutics by 27.4% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,784,000 shares of the company’s stock worth $41,203,000 after acquiring an additional 599,102 shares during the last quarter. Emerald Advisers LLC grew its stake in shares of Travere Therapeutics by 2.6% during the 3rd quarter. Emerald Advisers LLC now owns 2,146,767 shares of the company’s stock worth $51,308,000 after acquiring an additional 55,407 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Travere Therapeutics by 1.4% in the second quarter. Geode Capital Management LLC now owns 2,003,701 shares of the company’s stock valued at $29,658,000 after purchasing an additional 27,040 shares during the last quarter. Finally, Stephens Investment Management Group LLC acquired a new stake in shares of Travere Therapeutics in the third quarter valued at approximately $38,232,000.

Travere Therapeutics Stock Performance

Shares of TVTX stock opened at $33.10 on Tuesday. The stock has a market cap of $2.96 billion, a PE ratio of -31.23, a price-to-earnings-growth ratio of 1.02 and a beta of 0.85. The stock has a 50-day moving average of $34.17 and a 200-day moving average of $27.64. 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 has a one year low of $12.91 and a one year high of $42.13.

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.