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

Travere Therapeutics, Inc. (NASDAQ:TVTX) has been given an average recommendation of “Moderate Buy” by the twelve analysts that are covering the stock, Marketbeat reports. One analyst has rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $23.67.

Several analysts recently commented on TVTX shares. HC Wainwright reduced their target price on Travere Therapeutics from $23.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, September 27th. Scotiabank upped their price objective on shares of Travere Therapeutics from $23.00 to $27.00 and gave the company a “sector outperform” rating in a research note on Friday, November 1st. Canaccord Genuity Group lowered their target price on shares of Travere Therapeutics from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Piper Sandler upped their price target on shares of Travere Therapeutics from $12.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Finally, Leerink Partners reissued an “outperform” rating and issued a $20.00 price objective on shares of Travere Therapeutics in a research report on Tuesday, October 8th.

Insider Transactions at Travere Therapeutics

In related news, CAO Sandra Calvin sold 15,000 shares of the company’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $17.22, for a total value of $258,300.00. Following the sale, the chief accounting officer now owns 54,927 shares in the company, valued at $945,842.94. This represents a 21.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.75% of the stock is owned by insiders.

Hedge Funds Weigh In On Travere Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. CWM LLC lifted 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 valued at $70,000 after purchasing an additional 3,065 shares in the last quarter. Quarry LP purchased a new position in Travere Therapeutics during the 3rd quarter worth $105,000. Diversified Trust Co bought a new stake in shares of Travere Therapeutics in the 3rd quarter worth $161,000. DRW Securities LLC purchased a new stake in shares of Travere Therapeutics in the second quarter valued at about $95,000. Finally, Aigen Investment Management LP bought a new position in shares of Travere Therapeutics during the third quarter valued at about $170,000.

Travere Therapeutics Price Performance

TVTX stock opened at $18.86 on Monday. 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 52-week low of $5.12 and a 52-week high of $20.33. The company has a market capitalization of $1.47 billion, a P/E ratio of -4.15 and a beta of 0.69. The company has a fifty day moving average price of $18.12 and a 200-day moving average price of $13.72.

Travere Therapeutics (NASDAQ:TVTX) last announced its earnings results on Thursday, October 31st. The company reported ($0.70) EPS for the quarter, topping the consensus estimate of ($0.71) by $0.01. The firm had revenue of $62.90 million for the quarter, compared to the consensus estimate of $60.87 million. Travere Therapeutics had a negative return on equity of 537.74% and a negative net margin of 172.75%. The business’s quarterly revenue was up 69.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.17) EPS. As a group, equities analysts expect that Travere Therapeutics will post -3.94 EPS for the current year.

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.