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

Travere Therapeutics, Inc. (NASDAQ:TVTX) has been given a consensus rating of “Moderate Buy” by the fourteen research firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $38.1667.

A number of analysts recently weighed in on TVTX shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Travere Therapeutics in a research note on Wednesday, January 21st. HC Wainwright reissued a “buy” rating and set a $47.00 target price on shares of Travere Therapeutics in a research report on Friday, November 28th. Wall Street Zen lowered shares of Travere Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 21st. Guggenheim reaffirmed a “buy” rating and issued a $49.00 price target on shares of Travere Therapeutics in a research report on Wednesday, January 14th. Finally, Piper Sandler increased their price objective on shares of Travere Therapeutics from $35.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, February 6th.

Insider Activity at Travere Therapeutics

In other Travere Therapeutics news, CFO Christopher R. Cline sold 1,745 shares of the company’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $32.19, for a total transaction of $56,171.55. Following the completion of the sale, the chief financial officer owned 111,226 shares in the company, valued at $3,580,364.94. This represents a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Sandra Calvin sold 4,333 shares of Travere Therapeutics stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $32.12, for a total value of $139,175.96. Following the completion of the transaction, the chief accounting officer owned 49,080 shares in the company, valued at $1,576,449.60. This represents a 8.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 234,543 shares of company stock valued at $7,368,175 over the last 90 days. Insiders own 4.06% of the company’s stock.

Hedge Funds Weigh In On Travere Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State of Wyoming bought a new position in Travere Therapeutics in the fourth quarter worth about $37,000. Torren Management LLC purchased a new position in shares of Travere Therapeutics in the 4th quarter worth approximately $38,000. Comerica Bank grew its position in shares of Travere Therapeutics by 77.5% in the 4th quarter. Comerica Bank now owns 1,127 shares of the company’s stock worth $43,000 after buying an additional 492 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Travere Therapeutics by 69.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the company’s stock worth $45,000 after acquiring an additional 487 shares in the last quarter. Finally, First Horizon Corp bought a new position in shares of Travere Therapeutics during the 3rd quarter worth approximately $36,000.

Travere Therapeutics Price Performance

Shares of TVTX stock opened at $26.79 on Wednesday. Travere Therapeutics has a twelve month low of $12.91 and a twelve month high of $42.13. The company has a current ratio of 2.74, a quick ratio of 2.70 and a debt-to-equity ratio of 2.71. The stock has a fifty day simple moving average of $29.12 and a two-hundred day simple moving average of $30.60. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of -89.30 and a beta of 0.81.

Travere Therapeutics Company Profile

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.