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

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) have been given an average rating of “Moderate Buy” by the thirteen ratings firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $52.0833.

A number of brokerages have commented on TVTX. Piper Sandler raised Travere Therapeutics from a “neutral” rating to an “overweight” rating and set a $49.00 price objective for the company in a report on Tuesday, April 14th. Wells Fargo & Company raised their target price on Travere Therapeutics from $50.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, June 12th. Guggenheim lifted their target price on Travere Therapeutics from $56.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, June 25th. Citigroup upped their price target on Travere Therapeutics from $62.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, June 15th. Finally, TD Cowen increased their price target on Travere Therapeutics from $45.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th.

Travere Therapeutics Stock Down 1.2%

Travere Therapeutics stock opened at $56.68 on Tuesday. The firm has a market capitalization of $5.27 billion, a price-to-earnings ratio of -246.42 and a beta of 1.10. The firm’s fifty day moving average price is $52.56 and its two-hundred day moving average price is $39.69. Travere Therapeutics has a 1-year low of $15.03 and a 1-year high of $60.10. The company has a current ratio of 3.13, a quick ratio of 3.08 and a debt-to-equity ratio of 3.16.

Travere Therapeutics (NASDAQ:TVTX) last posted its earnings results on Monday, May 4th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.24) by $0.29. Travere Therapeutics had a negative net margin of 4.00% and a negative return on equity of 26.16%. The company had revenue of $127.20 million during the quarter, compared to the consensus estimate of $136.23 million. During the same period in the previous year, the firm posted ($0.47) earnings per share. The firm’s revenue for the quarter was up 55.6% on a year-over-year basis. On average, equities research analysts predict that Travere Therapeutics will post -0.31 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Jula Inrig sold 20,000 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $45.00, for a total transaction of $900,000.00. Following the transaction, the insider directly owned 111,473 shares of the company’s stock, valued at $5,016,285. This trade represents a 15.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Elizabeth E. Reed sold 20,000 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $45.00, for a total transaction of $900,000.00. Following the transaction, the insider owned 105,211 shares in the company, valued at approximately $4,734,495. This trade represents a 15.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 113,413 shares of company stock worth $5,161,607. Company insiders own 4.44% of the company’s stock.

Institutional Investors Weigh In On Travere Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. State Street Corp lifted its position in shares of Travere Therapeutics by 47.8% during the 4th quarter. State Street Corp now owns 4,756,666 shares of the company’s stock worth $181,752,000 after buying an additional 1,538,827 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Travere Therapeutics by 3,331.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,201,469 shares of the company’s stock worth $28,715,000 after buying an additional 1,166,460 shares during the last quarter. Fiera Capital Corp bought a new position in shares of Travere Therapeutics in the fourth quarter valued at approximately $33,398,000. Perceptive Advisors LLC bought a new position in shares of Travere Therapeutics in the second quarter valued at approximately $12,347,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Travere Therapeutics during the second quarter valued at approximately $10,348,000.

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.