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

Shares of Travere Therapeutics, Inc. (NASDAQ:TVTX) have received an average recommendation of “Moderate Buy” from the thirteen analysts that are covering the firm, Marketbeat reports. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $15.58.

A number of research analysts have issued reports on the stock. Guggenheim restated a “neutral” rating on shares of Travere Therapeutics in a research note on Wednesday, March 27th. Wedbush restated an “outperform” rating and set a $13.00 price target on shares of Travere Therapeutics in a research note on Wednesday, April 17th. Canaccord Genuity Group upped their price objective on shares of Travere Therapeutics from $15.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Travere Therapeutics in a report on Tuesday, May 7th.

Travere Therapeutics Trading Up 2.2 %

Shares of Travere Therapeutics stock opened at $7.33 on Thursday. The company has a current ratio of 2.78, a quick ratio of 2.75 and a debt-to-equity ratio of 5.10. Travere Therapeutics has a 12-month low of $5.12 and a 12-month high of $17.73. The firm has a market capitalization of $558.03 million, a price-to-earnings ratio of -3.49 and a beta of 0.77. The firm’s 50 day simple moving average is $6.52 and its two-hundred day simple moving average is $7.71.

Travere Therapeutics (NASDAQ:TVTX) last issued its quarterly earnings results on Monday, May 6th. The company reported ($1.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.98) by ($0.78). Travere Therapeutics had a negative net margin of 87.94% and a negative return on equity of 238.06%. The company had revenue of $41.40 million for the quarter, compared to analyst estimates of $43.46 million. During the same quarter in the previous year, the company posted ($1.27) EPS. The company’s revenue for the quarter was up 34.0% compared to the same quarter last year. Analysts predict that Travere Therapeutics will post -3.77 EPS for the current year.

Institutional Trading of Travere Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Travere Therapeutics by 10.9% during the third quarter. Vanguard Group Inc. now owns 4,667,458 shares of the company’s stock worth $41,727,000 after acquiring an additional 460,176 shares during the period. Parkman Healthcare Partners LLC raised its position in Travere Therapeutics by 76.4% during the fourth quarter. Parkman Healthcare Partners LLC now owns 1,018,812 shares of the company’s stock worth $9,159,000 after acquiring an additional 441,318 shares during the period. Schonfeld Strategic Advisors LLC raised its position in Travere Therapeutics by 71.4% during the third quarter. Schonfeld Strategic Advisors LLC now owns 524,000 shares of the company’s stock worth $4,685,000 after acquiring an additional 218,371 shares during the period. Jacobs Levy Equity Management Inc. raised its position in Travere Therapeutics by 9.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,671,770 shares of the company’s stock worth $14,946,000 after acquiring an additional 146,970 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Travere Therapeutics during the fourth quarter worth $137,000.

About Travere Therapeutics

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.