Travere Therapeutics (NASDAQ:TVTX) Now Covered by Cantor Fitzgerald

Cantor Fitzgerald started coverage on shares of Travere Therapeutics (NASDAQ:TVTX) in a research note published on Friday, MarketBeat reports. The firm issued an overweight rating on the stock.

A number of other research analysts have also issued reports on the stock. Barclays raised their price objective on shares of Travere Therapeutics from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Bank of America lifted their price target on shares of Travere Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Canaccord Genuity Group decreased their price objective on Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating for the company in a report on Monday, September 30th. Wedbush lifted their target price on Travere Therapeutics from $17.00 to $25.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. Finally, Citigroup decreased their price target on Travere Therapeutics from $23.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, September 27th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Travere Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $23.67.

Travere Therapeutics Stock Performance

NASDAQ TVTX opened at $18.09 on Friday. The firm’s fifty day moving average price is $18.20 and its two-hundred day moving average price is $14.05. The stock has a market cap of $1.41 billion, a PE ratio of -3.98 and a beta of 0.70. The company has a debt-to-equity ratio of 24.96, a quick ratio of 1.68 and a current ratio of 1.71. Travere Therapeutics has a fifty-two week low of $5.12 and a fifty-two week high of $20.33.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.70) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.01. The business had revenue of $62.90 million for the quarter, compared to analyst estimates of $60.87 million. Travere Therapeutics had a negative return on equity of 537.74% and a negative net margin of 172.75%. Travere Therapeutics’s quarterly revenue was up 69.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.17) EPS. On average, equities analysts expect that Travere Therapeutics will post -3.94 EPS for the current fiscal year.

Insider Activity at Travere Therapeutics

In other Travere Therapeutics news, insider Jula Inrig sold 2,066 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $19.10, for a total value of $39,460.60. Following the completion of the sale, the insider now owns 59,883 shares of the company’s stock, valued at approximately $1,143,765.30. This trade represents a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Sandra Calvin sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $17.22, for a total value of $258,300.00. Following the transaction, the chief accounting officer now directly owns 54,927 shares in the company, valued at $945,842.94. The trade was a 21.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,596 shares of company stock worth $527,262 in the last quarter. Company insiders own 3.75% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TVTX. Creative Planning raised its holdings in shares of Travere Therapeutics by 4.3% in the 3rd quarter. Creative Planning now owns 23,938 shares of the company’s stock worth $335,000 after acquiring an additional 995 shares during the last quarter. Forefront Analytics LLC increased its holdings in Travere Therapeutics by 10.2% during the 2nd quarter. Forefront Analytics LLC now owns 13,317 shares of the company’s stock worth $109,000 after purchasing an additional 1,237 shares in the last quarter. CWM LLC raised its stake 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 purchasing an additional 3,065 shares during the last quarter. Diversified Trust Co lifted its holdings in shares of Travere Therapeutics by 27.5% in the fourth quarter. Diversified Trust Co now owns 14,701 shares of the company’s stock valued at $256,000 after purchasing an additional 3,169 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Travere Therapeutics by 20.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,969 shares of the company’s stock valued at $279,000 after buying an additional 3,458 shares during the last quarter.

Travere Therapeutics Company Profile

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.