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

by · The Cerbat Gem

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX – Get Free Report) have been given a consensus rating of “Moderate Buy” by the fifteen ratings firms that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $32.14.

Several equities analysts recently issued reports on the stock. HC Wainwright upgraded shares of Travere Therapeutics to a “buy” rating and set a $30.00 target price for the company in a research note on Wednesday, June 11th. Canaccord Genuity Group upped their price objective on shares of Travere Therapeutics from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday, April 10th. Scotiabank reissued an “outperform” rating on shares of Travere Therapeutics in a research note on Friday, April 11th. Stifel Nicolaus lifted their price target on Travere Therapeutics from $22.00 to $23.00 and gave the company a “hold” rating in a research note on Friday, May 2nd. Finally, Guggenheim reiterated a “buy” rating and set a $47.00 price target on shares of Travere Therapeutics in a research report on Monday, April 14th.

Check Out Our Latest Stock Analysis on TVTX

Travere Therapeutics Stock Performance

Shares of TVTX stock opened at $14.77 on Monday. The stock has a market cap of $1.31 billion, a PE ratio of -5.26 and a beta of 0.75. The business has a 50-day simple moving average of $16.90 and a 200-day simple moving average of $18.23. The company has a quick ratio of 2.03, a current ratio of 2.05 and a debt-to-equity ratio of 9.46. Travere Therapeutics has a 52-week low of $7.72 and a 52-week high of $25.29.

Travere Therapeutics (NASDAQ:TVTX – Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported ($0.47) earnings per share for the quarter, beating the consensus estimate of ($0.55) by $0.08. Travere Therapeutics had a negative return on equity of 1,179.73% and a negative net margin of 82.88%. The company had revenue of $81.73 million during the quarter, compared to analysts’ expectations of $77.44 million. During the same period last year, the business earned ($1.76) earnings per share. Travere Therapeutics’s quarterly revenue was up 83.3% on a year-over-year basis. On average, equities analysts expect that Travere Therapeutics will post -1.4 EPS for the current year.

Insider Buying and Selling at Travere Therapeutics

In other news, CEO Eric M. Dube sold 18,924 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $21.05, for a total value of $398,350.20. Following the completion of the sale, the chief executive officer now directly owns 419,173 shares in the company, valued at $8,823,591.65. This represents a 4.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Peter Heerma sold 1,771 shares of the company’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $21.05, for a total transaction of $37,279.55. Following the sale, the insider now directly owns 128,215 shares of the company’s stock, valued at approximately $2,698,925.75. This represents a 1.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,527 shares of company stock valued at $473,814 over the last quarter. 4.06% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Travere Therapeutics

Large investors have recently made changes to their positions in the stock. GF Fund Management CO. LTD. acquired a new stake in Travere Therapeutics during the fourth quarter worth about $31,000. Sterling Capital Management LLC increased its holdings in shares of Travere Therapeutics by 859.8% during the 4th quarter. Sterling Capital Management LLC now owns 2,361 shares of the company’s stock worth $41,000 after buying an additional 2,115 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Travere Therapeutics during the 1st quarter valued at approximately $62,000. Gen Wealth Partners Inc acquired a new position in Travere Therapeutics in the fourth quarter valued at approximately $73,000. Finally, KBC Group NV acquired a new position in Travere Therapeutics in the first quarter valued at approximately $75,000.

About Travere Therapeutics

(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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