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

by · The Markets Daily

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX – Get Free Report) have received a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are presently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $20.00.

TVTX has been the subject of several research analyst reports. Leerink Partners reiterated an “outperform” rating and set a $20.00 target price on shares of Travere Therapeutics in a research report on Tuesday, October 8th. Scotiabank initiated coverage on shares of Travere Therapeutics in a research report on Wednesday, October 16th. They issued a “sector outperform” rating and a $23.00 price objective for the company. Barclays raised their target price on shares of Travere Therapeutics from $14.00 to $18.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. JPMorgan Chase & Co. boosted their price target on Travere Therapeutics from $20.00 to $23.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Finally, Piper Sandler raised their price objective on Travere Therapeutics from $11.00 to $12.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd.

Get Our Latest Analysis on TVTX

Insider Buying and Selling

In other Travere Therapeutics news, insider Jula Inrig sold 2,191 shares of Travere Therapeutics stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $11.52, for a total value of $25,240.32. Following the transaction, the insider now owns 62,633 shares in the company, valued at $721,532.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Travere Therapeutics news, insider Jula Inrig sold 2,191 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $11.52, for a total value of $25,240.32. Following the completion of the sale, the insider now directly owns 62,633 shares in the company, valued at $721,532.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey A. Meckler sold 40,000 shares of the company’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $14.06, for a total value of $562,400.00. Following the transaction, the director now directly owns 81,000 shares in the company, valued at approximately $1,138,860. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 110,707 shares of company stock worth $1,504,312 in the last three months. 3.75% of the stock is owned by insiders.

Institutional Investors Weigh In On Travere Therapeutics

Several institutional investors have recently added to or reduced their stakes in TVTX. EntryPoint Capital LLC purchased a new position in shares of Travere Therapeutics in the 1st quarter valued at approximately $32,000. CWM LLC raised its holdings in shares of Travere Therapeutics by 158.5% in the third quarter. CWM LLC now owns 4,999 shares of the company’s stock worth $70,000 after buying an additional 3,065 shares during the last quarter. DRW Securities LLC acquired a new stake in shares of Travere Therapeutics during the second quarter worth $95,000. Forefront Analytics LLC grew its holdings in shares of Travere Therapeutics by 10.2% during the second quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock valued at $109,000 after buying an additional 1,237 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its holdings in shares of Travere Therapeutics by 68.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 14,652 shares of the company’s stock valued at $113,000 after buying an additional 5,962 shares during the last quarter.

Travere Therapeutics Stock Performance

Travere Therapeutics stock opened at $17.87 on Wednesday. The company has a debt-to-equity ratio of 24.96, a current ratio of 3.04 and a quick ratio of 2.99. The firm has a market capitalization of $1.36 billion, a P/E ratio of -8.51 and a beta of 0.73. Travere Therapeutics has a 1-year low of $5.12 and a 1-year high of $18.82. The company’s 50-day moving average is $12.71 and its 200 day moving average is $9.35.

Travere Therapeutics (NASDAQ:TVTX – Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($0.03). Travere Therapeutics had a negative return on equity of 269.18% and a negative net margin of 82.14%. The business had revenue of $54.12 million during the quarter, compared to analysts’ expectations of $49.50 million. Research analysts forecast that Travere Therapeutics will post -3.95 EPS for the current year.

Travere Therapeutics Company Profile

(Get Free Report

Travere Therapeutics, Inc, a biopharmaceutical company, identifies, develops, and delivers therapies to people living with rare kidney and metabolic diseases. Its products include FILSPARI (sparsentan), a once-daily, oral medication designed to target two critical pathways in the disease progression of IgA Nephropathy (endothelin 1 and angiotensin-II); and Thiola and Thiola EC (tiopronin tablets) for the treatment of cystinuria, a rare genetic cystine transport disorder that causes high cystine levels in the urine and the formation of recurring kidney stones.

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