Travere Therapeutics (NASDAQ:TVTX) Downgraded by Wall Street Zen to Buy

Travere Therapeutics (NASDAQ:TVTX) was downgraded by stock analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Saturday.

TVTX has been the subject of a number of other research reports. Piper Sandler upped their price target on Travere Therapeutics from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, February 6th. Zacks Research downgraded Travere Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Guggenheim reaffirmed a “buy” rating and issued a $49.00 price target on shares of Travere Therapeutics in a research note on Wednesday, January 14th. Citigroup lifted their price target on shares of Travere Therapeutics from $34.00 to $48.00 and gave the company a “buy” rating in a report on Friday, October 31st. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Travere Therapeutics in a report on Wednesday, January 21st. Eleven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $38.62.

Travere Therapeutics Price Performance

TVTX stock opened at $30.39 on Friday. The stock has a market capitalization of $2.72 billion, a price-to-earnings ratio of -101.30, a PEG ratio of 0.81 and a beta of 0.83. The firm’s 50-day moving average price is $32.68 and its two-hundred day moving average price is $28.84. The company has a current ratio of 2.75, a quick ratio of 2.71 and a debt-to-equity ratio of 4.23. Travere Therapeutics has a 12-month low of $12.91 and a 12-month high of $42.13.

Insiders Place Their Bets

In other Travere Therapeutics news, insider William E. Rote sold 60,000 shares of the stock in a transaction dated Wednesday, December 24th. The stock was sold at an average price of $40.10, for a total value of $2,406,000.00. Following the transaction, the insider owned 101,443 shares of the company’s stock, valued at approximately $4,067,864.30. This represents a 37.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Eric M. Dube sold 100,087 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $32.28, for a total transaction of $3,230,808.36. Following the sale, the chief executive officer owned 432,886 shares of the company’s stock, valued at $13,973,560.08. This trade represents a 18.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 331,925 shares of company stock worth $11,318,755 in the last three months. Corporate insiders own 4.19% of the company’s stock.

Hedge Funds Weigh In On Travere Therapeutics

A number of hedge funds have recently modified their holdings of TVTX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Travere Therapeutics by 13.7% in the 1st 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 last quarter. AlphaQuest LLC grew its position in shares of Travere Therapeutics by 881.6% during the second quarter. AlphaQuest LLC now owns 35,250 shares of the company’s stock valued at $522,000 after purchasing an additional 31,659 shares in the last quarter. Y Intercept Hong Kong Ltd increased its holdings in shares of Travere Therapeutics by 343.7% in the second quarter. Y Intercept Hong Kong Ltd now owns 68,000 shares of the company’s stock worth $1,006,000 after purchasing an additional 52,675 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in shares of Travere Therapeutics by 3.5% during the 2nd quarter. Teacher Retirement System of Texas now owns 22,688 shares of the company’s stock worth $336,000 after acquiring an additional 773 shares in the last quarter. Finally, Emerald Advisers LLC increased its stake in Travere Therapeutics by 0.7% during the second quarter. Emerald Advisers LLC now owns 2,091,360 shares of the company’s stock worth $30,952,000 after acquiring an additional 14,187 shares during the last quarter.

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.