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

by · The Markets Daily

Travere Therapeutics, Inc. (NASDAQ:TVTX – Get Free Report) has been given a consensus recommendation of “Moderate Buy” by the fourteen brokerages that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $38.1667.

TVTX has been the topic of a number of recent research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Travere Therapeutics in a report on Wednesday, January 21st. Guggenheim reiterated a “buy” rating and issued a $49.00 price objective on shares of Travere Therapeutics in a research report on Wednesday, January 14th. Wall Street Zen cut shares of Travere Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 21st. Piper Sandler upped their price objective on shares of Travere Therapeutics from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, February 6th. Finally, HC Wainwright restated a “buy” rating and issued a $47.00 target price on shares of Travere Therapeutics in a research note on Friday, November 28th.

Get Our Latest Report on TVTX

Travere Therapeutics Stock Performance

TVTX traded down $0.07 on Friday, hitting $27.24. 1,429,488 shares of the company traded hands, compared to its average volume of 1,426,632. Travere Therapeutics has a 12-month low of $12.91 and a 12-month high of $42.13. The company has a 50 day moving average of $31.18 and a 200-day moving average of $29.64. The company has a quick ratio of 2.70, a current ratio of 2.74 and a debt-to-equity ratio of 2.71. The stock has a market capitalization of $2.51 billion, a PE ratio of -90.80 and a beta of 0.81.

Insider Activity

In other news, CEO Eric M. Dube sold 100,087 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $32.28, for a total transaction of $3,230,808.36. Following the completion of the transaction, the chief executive officer directly owned 432,886 shares of the company’s stock, valued at approximately $13,973,560.08. This represents a 18.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Sandra Calvin sold 7,402 shares of the stock in a transaction that occurred on Wednesday, December 24th. The stock was sold at an average price of $40.00, for a total value of $296,080.00. Following the transaction, the chief accounting officer directly owned 38,233 shares of the company’s stock, valued at approximately $1,529,320. This trade represents a 16.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 311,925 shares of company stock valued at $10,618,555 over the last ninety days. 4.19% of the stock is currently owned by company insiders.

Institutional Trading of Travere Therapeutics

A number of institutional investors have recently modified their holdings of the business. Arizona State Retirement System raised its position in Travere Therapeutics by 1.5% in the third quarter. Arizona State Retirement System now owns 24,964 shares of the company’s stock worth $597,000 after acquiring an additional 375 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in Travere Therapeutics by 69.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,193 shares of the company’s stock valued at $45,000 after acquiring an additional 487 shares during the period. Comerica Bank boosted its position in shares of Travere Therapeutics by 77.5% during the 4th quarter. Comerica Bank now owns 1,127 shares of the company’s stock worth $43,000 after purchasing an additional 492 shares in the last quarter. Prudential Financial Inc. grew its stake in shares of Travere Therapeutics by 0.3% during the 2nd quarter. Prudential Financial Inc. now owns 244,256 shares of the company’s stock worth $3,615,000 after purchasing an additional 615 shares during the period. Finally, ProShare Advisors LLC grew its stake in shares of Travere Therapeutics by 4.1% during the 4th quarter. ProShare Advisors LLC now owns 19,007 shares of the company’s stock worth $726,000 after purchasing an additional 756 shares during the period.

About Travere Therapeutics

(Get Free Report)

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.

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